Biden has not mentioned it in any significant way. policy makers are largely silent on the digital yuan. Is Washington even taking this seriously?ĭespite a constant flurry of China headlines, top U.S. Goldman Sachs predicts that within 10 years, the digital yuan could reach 1 billion users. dollar.Īs it turns out, China is already working on a solution to those problems.Ĭhina is moving quickly to launch a digital yuan, potentially replacing cash domestically and challenging the U.S. Relatedly, Russian Foreign Minister Sergey Lavrov recently traveled to China to complain about American sanctions and the world’s reliance on the U.S. The $400 billion deal entails China receiving oil in exchange for its investments, and notably, the establishment of an Iranian-Chinese bank. “The world is increasingly dividing into distinct, if not purely ideological, camps, with both China and the United States hoping to lure in supporters,” the article said.Ĭhina’s new agreement with Iran offers a hint of how that future might look. The U.S., along with 13 other countries, issued a j oint statement saying that the report was late and didn’t have access to complete data.īut if Biden’s plan is to form an “alliance of democracies,” China will seek alliances of its own, the New York Times wrote on Monday. Many countries found this conclusion to be unsatisfying. The U.S joined another multilateral effort in response to the just-released World Health Organization-China report on the origins of COVID-19, which ultimately found that the origins of COVID-19 were. Now, as Japanese Prime Minister Yoshihide Suga prepares for his first summit with Biden on April 9, Japan is under pressure to join these sanctions as well. Following a tense meeting with Chinese officials in Alaska last month, the United States placed human-rights sanctions on China in coordination with Canada, the European Union and the United Kingdom. Because while Trump was relatively isolated on the world stage, Biden will not be acting alone. The Biden administration could end up incurring greater wrath from Beijing. will not be lifting China tariffs anytime soon.īut this is more than Joe Biden just following Trump’s path. Trade Representative Katherine Tai just made it clear that the U.S. imposed tariffs on around $370 billion worth of Chinese goods annually. But it’s starting to look like U.S.-China relations could be even more strained under the Biden administration.įor starters, some China policies might not be that much of a departure from Trump’s. Over to you, Emily! – Ben Pauker, world and national security editorįormer President Donald Trump liked to present himself as tough on China. She’s also co-founder of LongHash, a blockchain startup that focuses on Asian markets. Her book, “Now I Know Who My Comrades Are,” (FSG) details the impact of the internet in China, Cuba and Russia. State Department and a former writer and editor at the Wall Street Journal, where she covered Asia. Emily is a former member of the Policy Planning Staff at the U.S. Your guest host this week is Emily Parker, a managing director at CoinDesk, a news site specializing in bitcoin and digital currencies, and co-anchor at CoinDesk TV. dollar at risk as China races ahead on digital yuan
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