SHS Web Conf.
Volume 181, 20242023 International Conference on Digital Economy and Business Administration (ICDEBA 2023)
|Number of page(s)
|Financial Analysis and Stock Market Strategies
|17 January 2024
The impact of central bank digital currency issuance on the international monetary system - taking China and other countries as examples
Economics, China University of Petroleum (East China), Qingdao, 266000, China
Corresponding author: email@example.com
As the current international monetary system is increasingly unstable and unbalanced, even more countries have begun to study and implement digital currency and put forward the concept of super-sovereign currency. The inherent defects of the international monetary system dominated by the US dollar provide space for the generation and development of super-sovereign digital currencies. Based on the superficial reasons for the issuance of decentralized digital currencies by various countries and the current policy situation, this paper proposes the impact of future super-sovereign digital currencies on the international monetary system. Taking the issuance of digital currencies by the People’s Bank of China as the starting point, this paper combines the data of the Federal Reserve and the Bureau of Economic Analysis from general to special. It is concluded that the super-sovereign digital currency may fundamentally reshape the international monetary system and the pattern of international trade. Developing countries, such as China, may hold the upper hand of the upcoming changes in the international monetary system by promoting the internationalization of the digital yuan with its leading position in the field of central bank digital currency and its important position in world trade.
© The Authors, published by EDP Sciences, 2024
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Current usage metrics show cumulative count of Article Views (full-text article views including HTML views, PDF and ePub downloads, according to the available data) and Abstracts Views on Vision4Press platform.
Data correspond to usage on the plateform after 2015. The current usage metrics is available 48-96 hours after online publication and is updated daily on week days.
Initial download of the metrics may take a while.