Today at the virtual World Economic Forum, leading Chinese economist Zhu Min, said he didn’t think there’s a plan for the digital yuan to expand the currency’s international reach through the Belt and Road Initiative, responding to a question from Coindesk’s Michael Casey.
Zhu Min is Chairman of China’s National Institute of Financial Research at Tsinghua University and a former Deputy Managing Director at the IMF and former Deputy Governor at the People’s Bank of China.
He also said, “I don’t think we thought of it (digital yuan) as an instrument to compete with the dollar. And currency competition is a very vague and unclear concept both in economic theory and also in practice.”
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