China Makes Asian Digital Currency Proposal to Fight Dollar Hegemony

Researchers from the Chinese State Institute have put forward the idea of ​​a pan-Asian digital currency to reduce the dependence of the region’s economies on the US dollar.

The initiative has been allegedly designed to strengthen China’s economic influence on neighboring countries and reduce the risks of possible financial restrictions from Washington.

According to the researchers:

“More than 20 years of deep economic integration in East Asia have set a good start for monetary cooperation. The conditions for the preparation of the Asian yuan have been formed.”

According to them, the digital token can be pegged to a basket of 13 currencies, including the yuan, the Japanese yen, the South Korean won and others.