'Geopolitical tensions, the pandemic and China's insistence on stamping out every trace of Covid are spoiling the party, dealing a blow to one of the most ambitious digital currency projects on the planet,' writes CNN's Laura He | Analysis
A version of this story appeared in CNN's Meanwhile in China newsletter, a three-times-a-week update exploring what you need to know about the country's rise and how it impacts the world. Sign up here.Instead, geopolitical tensions, the pandemic and China's insistence on stamping out every trace of Covid are spoiling the party, dealing a blow to one of the most ambitious digital currency projects on the planet.
Even if many of the people who do attend the event use the digital yuan,"it won't make a significant dent in overall transaction levels," said Scott Kennedy, senior adviser and trustee chair in Chinese Business and Economics at the Center for Strategic and International Studies.The digital yuan is available in 10 cities and regions, but experts cite a lack of incentives as a major reason for flagging enthusiasm.
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