{"id":127948,"date":"2021-09-22T03:22:40","date_gmt":"2021-09-22T10:22:40","guid":{"rendered":"https:\/\/lifeboat.com\/blog\/2021\/09\/the-u-s-is-losing-the-global-race-to-decide-the-future-of-money-and-it-could-doom-the-almighty-dollar"},"modified":"2021-09-22T03:22:40","modified_gmt":"2021-09-22T10:22:40","slug":"the-u-s-is-losing-the-global-race-to-decide-the-future-of-money-and-it-could-doom-the-almighty-dollar","status":"publish","type":"post","link":"https:\/\/lifeboat.com\/blog\/2021\/09\/the-u-s-is-losing-the-global-race-to-decide-the-future-of-money-and-it-could-doom-the-almighty-dollar","title":{"rendered":"The U.S. Is Losing the Global Race to Decide the Future of Money \u2014and It Could Doom the Almighty Dollar"},"content":{"rendered":"<p><a class=\"aligncenter blog-photo\" href=\"https:\/\/lifeboat.com\/blog.images\/the-u-s-is-losing-the-global-race-to-decide-the-future-of-money-and-it-could-doom-the-almighty-dollar2.jpg\"><\/a><\/p>\n<p>What must the US do Eric Klien?<\/p>\n<hr>\n<p>\n<strong>Read More: <\/strong><a href=\"https:\/\/time.com\/6084146\/china-digital-rmb-currency\/\"><em>How China\u2019s Digital Currency Could Challenge the Almighty Dollar<\/em><\/a><\/p>\n<p>China has already largely moved away from coin and paper currency; Chinese consumers have racked up more than $41 trillion in mobile transactions, according to <a href=\"https:\/\/www.brookings.edu\/wp-content\/uploads\/2020\/04\/FP_20200427_china_digital_payments_klein.pdf\" target=\"_blank\">a recent research paper<\/a> from the Brookings Institution, with the lion\u2019s share (92%) going through digital payment processors WeChat Pay and Alipay.<\/p>\n<p>\u201cThe reason you could say the U.S. is behind in the digital currency race is I don\u2019t think the U.S. is aware there is a race,\u201d Yaya Fanusie, an Adjunct Senior Fellow at the Center for a New American Security, and a former CIA analyst, tells TIME in an interview. \u201cA lot of policymakers are looking at it and concerned\u2026but even with that I just don\u2019t think there\u2019s this sense of urgency because the risk from China is not an immediate threat.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What must the US do Eric Klien? Read More: How China\u2019s Digital Currency Could Challenge the Almighty Dollar China has already largely moved away from coin and paper currency; Chinese consumers have racked up more than $41 trillion in mobile transactions, according to a recent research paper from the Brookings Institution, with the lion\u2019s share [\u2026]<\/p>\n","protected":false},"author":556,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1761,39,1492],"tags":[],"class_list":["post-127948","post","type-post","status-publish","format-standard","hentry","category-cryptocurrencies","category-economics","category-security"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/127948","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/556"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=127948"}],"version-history":[{"count":0,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/127948\/revisions"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=127948"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=127948"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=127948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}