In response to the dollar’s dominance in the global financial system, several countries have begun to explore digital currencies as an alternative to the status quo. Photo: Shutterstock In response to the dollar’s dominance in the global financial system, several countries have begun to explore digital currencies as an alternative to the status quo. Photo: Shutterstock
In response to the dollar’s dominance in the global financial system, several countries have begun to explore digital currencies as an alternative to the status quo. Photo: Shutterstock
Alessandro Arduino
Opinion

Opinion

Alessandro Arduino

Cryptocurrency: the next battleground in the US-China rivalry

  • Washington’s weaponisation of the US dollar as a foreign policy tool depends on its pre-eminence as a global reserve currency
  • But the emerging threat to this hegemony is e-currencies, and Beijing’s huge head start could put it in control of the world’s financial structure

Alessandro Arduino
Alessandro Arduino

Updated: 2:28am, 7 Sep, 2020

Why you can trust SCMP
In response to the dollar’s dominance in the global financial system, several countries have begun to explore digital currencies as an alternative to the status quo. Photo: Shutterstock In response to the dollar’s dominance in the global financial system, several countries have begun to explore digital currencies as an alternative to the status quo. Photo: Shutterstock
In response to the dollar’s dominance in the global financial system, several countries have begun to explore digital currencies as an alternative to the status quo. Photo: Shutterstock
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Alessandro Arduino

Alessandro Arduino

Dr Alessandro Arduino is principal research fellow at the Middle East Institute at the National University of Singapore, specialising in the roles played by private military contractors and technology in modern warfare.