The Development of Digital Currency in China and Its Impact on International Trade

Abstract

The global economy has experienced significant upheavals over the past few years. With the development of new payment methods and the growth of crypto assets, digital currencies issued by private banks and even central banks have emerged in the global economy. This process was driven both by progress in the application of digital technologies and by the widespread demand for new international payment opportunities. The use of digital currencies has developed rapidly in many countries and in the trade of goods and services on the global market.