How COVID effects the global financial systems of US Dollar Banks and China's Digital Currency - The Economist

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Uploaded: 11 May 2020   (6 years ago)  ·  Shared: 26 Oct 2020
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What is Digital Currency?

Digital currency (digital money, electronic money or electronic currency) is a type of currency available in digital form. This is in contrast to physical, such as banknotes and coins. It exhibits properties similar to physical currencies, but can allow for instantaneous transactions and borderless transfer-of-ownership. Examples include virtual [...]

What is COVID?

Coronaviruses are a group of viruses that cause diseases in mammals and birds. In humans, coronaviruses cause respiratory tract infections that are typically mild, such as the common cold, though rarer forms such as SARS, MERS, and COVID-19 can be lethal. Symptoms vary in other species: in chickens, they cause an upper respiratory tract disease [...]

What is China?

China, officially the People's Republic of China (PRC) is a country in East Asia. It is the world's most populous country, with a population of around 1.4 billion in 2019. Covering approximately 9.6 million square kilometres, it is the world's third or fourth-largest country by area. Governed solely by the Chinese Communist Party (CCP), the state [...]

Video Description (from Youtube)

America has dominated global finance for decades. But could covid-19 tip the balance of financial power in China's favour?

Further reading:

Sign up to The Economist’s daily newsletter to keep up to date with our latest covid-19 coverage: https://econ.trib.al/YD53WI6

Find The Economist’s most recent coverage of covid-19 here: https://econ.st/2QXX9sJ

Read Matthieu Favas’ special report here: https://econ.st/3fAPKu1

How the pandemic is driving America and China further apart: https://econ.st/2SRk2Pl

Fu Ying: why China and America must co-operate on covid-19: https://econ.st/2YTYhma

Read our article on China’s aim to launch the world’s first official digital currency: https://econ.st/2SThC2Y
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