Chinese news outlet Global Times published an article titled "China cannot be absent from the era of global digital currency competition," detailing that once Libra reaches a deal with regulators, it will become the de facto representative of the dollar in the global digital economy, where the dollar lacked dominance in the past. With Libra, the US could obtain a significant first-move advantage in digital economic competition, and it will be hard for governments to block Libra's penetration within their digital economies.
"China must be involved in this round of digital economic competition, given the fact that digital currency will become an inevitable trend, bringing profound changes to the digital economy and global technology, finance, capital and economic structure."
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