Both countries seem to focus on jointly coordinating efforts to develop 5G and 6G projects. Recent actions taken by the Chinese government, which has been cracking down on cryptocurrency trading, are a clear sign that Beijing is preparing the ground for introducing a digital yuan currency. Joe Biden’s administration has recently been debating whether the Chinese digital currency initiative can become a threat to the global supremacy of the US dollar. As of yet, there are no apparent signs of cooperation between Japan and the United States, although the issue of introducing a Central Bank Digital Currency (CBDC) has been receiving a lot of media coverage. Recent developments show that institutional players in Japan and the United States have finally decided to move faster on developing research on a CBDC. Please download the CAA Brief here.
