China Is Leading the Way on CBDCs, Fanusie Says

The video discusses the current state of Central Bank Digital Currencies (CBDCs) in the US and China. While the US is conducting research, China is leading with extensive pilot projects and collaborations. The geopolitical implications are significant, as new digital financial infrastructures could impact US economic influence and sanctions power. The global shift towards alternative financial systems is inevitable, and the US must engage in setting new standards to maintain its influence.

Which country is leading the way in the development and testing of CBDCs?

• China

• United States

• Japan

• United Kingdom

What is one of the key features being tested in China's CBDC pilots?

• Traditional banking methods

• Increased interest rates

• Smart contracts and programmability

• Physical currency exchange

What is a major concern regarding the global shift towards new digital financial infrastructures?

• Increased reliance on traditional banking

• Rise of physical currency usage

• Loss of US influence in setting financial standards

• Decreased global trade

What is the potential impact on US sanctions if new financial rails are established?

• Reduced potency of US sanctions

• No impact on US sanctions

• Increased reliance on US financial systems

• Strengthened US sanctions power

What is a potential risk if the US is not involved in setting new financial standards?

• Increased global influence

• Loss of economic statecraft

• Strengthened traditional banking

• Rise of the US dollar