Beijing accelerates on the digital yuan. How it works and how the system will change

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When the United States and its allies wanted to strike Russia for the invasion of Ukraine, they used their power over the global financial system to isolate Moscow and its economy. But what if the world didn’t have a dollar-centric global frame of reference.

The question is legitimate in light of doubts as to whether the greenback can continue to be the cornerstone of the global system. Both because the United States may no longer be …