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Uploaded: 11 May 2020 (6 years ago) · Shared: 26 Oct 2020
Duration: 9:58
Uploaded: 11 May 2020 (6 years ago) · Shared: 26 Oct 2020
Duration: 9:58
Youtube Description
America has dominated global finance for decades. But could covid-19 tip the balance of financial power in China's favour? Further reading: Sign upto 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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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 currencies, cryptocurrencies, and central bank digital currency (CBDC). Digital money can either be centralized, where there is a central point of control over the money supply, or decentralized, where the control over the money supply can come from various sources.
Who are The Economist?The Economist is a highly respected, global weekly publication that focuses on international news, politics, business, finance, science, technology, and culture. Founded in September 1843 by Scottish businessman James Wilson, it is famous for its distinct, analytical voice, data-driven reporting, and commitment to free-market principles.
What is Coronavirus?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, while in cows and pigs they cause diarrhea. There are yet to be vaccines or antiviral drugs to prevent or treat human coronavirus infections.
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 exercises jurisdiction over 22 provinces, five autonomous regions, four direct-controlled municipalities (Beijing, Tianjin, Shanghai, and Chongqing), and the special administrative regions of Hong Kong and Macau. China is a unitary one-party socialist republic, and is one of the few existing nominally socialist states. Political dissidents and human rights groups have denounced and criticized the Chinese government for human rights abuses, including suppression of religious and ethnic minorities, censorship, mass surveillance, and their response to protests, notably in 1989.
