CBDC as instruments of global power: monetary internationalization and geopolitical strategies in China, Europe, and the United States
DOI:
https://doi.org/10.32826/reyf.v3i8.395Keywords:
Central Bank Digital Currencies (CBDC), Geopolitics , Monetary power, Monetary internationalization, e-CNY, Digital euroAbstract
This paper analyses Central Bank Digital Currencies (CBDC) as strategic tools of monetary power and global influence. It compares China’s e-CNY, the European digital euro, and the United States (US) dollar-based stablecoin ecosystem through an Internationalization Potential Index of CBDC (IPI-CBDC), which integrates five analytical dimensions: privacy, interoperability, remuneration, limits of holding, and institutional legitimacy. Results show that China uses the e-CNY as a vector of regional control, the European Union (EU) deploys the digital euro to safeguard regulatory sovereignty, and the US maintains its global dominance through private digital infrastructures. The study concludes that the future of global money will be hybrid and multipolar: technological command, institutional trust, and strategic interoperability will define monetary power in the digital age.
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