Researcher ORCID Identifier
0000-0003-0792-7215
Graduation Year
2021
Date of Submission
12-2021
Document Type
Campus Only Senior Thesis
Degree Name
Bachelor of Arts
Department
Government
Reader 1
Jordan Branch
Terms of Use & License Information
Rights Information
2021 Joshua L Rodriguez
Abstract
Almost 1,000 years ago, the Song Dynasty introduced the world’s first paper national currency. Today, China is once again leading the world towards the next revolution in payment technology: Central Bank Digital Currencies (CBDC). This thesis explores China’s motivations for developing its CBDC and how the e-CNY fits into China’s recent digital payment revolution, as well as its greater plans for the internationalization of the Renminbi. In analyzing the development of China’s CBDC, I conclude that it does not currently pose a threat to the dominance of the dollar and U.S. hegemony. Among the topics that I discuss are China’s global and political strategies for the internationalization of the Renminbi, the reasons behind China’s digital payment revolution, and the structure of China’s e-CNY, and the potential for U.S. digital dollar.
Recommended Citation
Rodriguez, Joshua, "The e-CNY: Implications of China's Digital Payment Technology and Central Bank Digital Currency for a Dollar Dominated World" (2021). CMC Senior Theses. 2813.
https://scholarship.claremont.edu/cmc_theses/2813
This thesis is restricted to the Claremont Colleges current faculty, students, and staff.
Comments
Almost 1,000 years ago, the Song Dynasty introduced the world’s first paper national currency. Today, China is once again leading the world towards the next revolution in payment technology: Central Bank Digital Currencies (CBDC). This thesis explores China’s motivations for developing its CBDC and how the e-CNY fits into China’s recent digital payment revolution, as well as its greater plans for the internationalization of the Renminbi. In analyzing the development of China’s CBDC, I conclude that it does not currently pose a threat to the dominance of the dollar and U.S. hegemony. Among the topics that I discuss are China’s global and political strategies for the internationalization of the Renminbi, the reasons behind China’s digital payment revolution, and the structure of China’s e-CNY, and the potential for U.S. digital dollar.