The world is engaging in financial warfare, and China is winning. China’s digital yuan — also referred to as Digital Currency Electronic Payment, or DCEP — will soon be used around the world. The People’s Bank of China is one of the most advanced central banks in the world. For that reason, it has been advancing on the digital currency front, while by all appearances, the United States Federal Reserve has not.
And now that Donald Trump and his “America First” policy has been defeated — though counting remains ongoing and court cases over the results are pending — China’s supremacy in the area of digital currency has been assured.
Joe Biden has not outlined a clear technology policy, let alone a digital currency policy. That will assure China the opportunity to increase its lead in the digital currency race. Maintaining the American position as the world’s superpower does not appear anywhere in Biden’s agenda. Back in 2015, as