CommentaryChina’s push for a yuan-backed stablecoin is less about innovation or global finance and more about extending the Chinese Communist Party’s (CCP’s) digital surveillance and control, making it unlikely to displace the dollar or deliver true financial freedom.
Beijing’s ambition to position the yuan as a powerful currency in global trade is facing renewed pressure.8/13/2025|Updated: 8/13/2025CommentaryThe Chinese Communist Party (CCP) and Xi Jinping’s push to make the yuan a global currency is undermined by their policies, tight capital controls, suppressed exchange rates, and...