The expansion of China's central bank digital currency (CBDC) is impacting global trade networks and leaving Australia with a difficult choice between Beijing and Washington. The US decision to ban a digital dollar could disrupt global finance, as the West is falling behind in the development of digital currencies. Australia, which heavily relies on exports to China, has not yet made concrete plans for a CBDC, which raises concerns about economic sovereignty and geopolitical leverage. The shift away from the US dollar has been gaining momentum, with many countries exploring multi-CBDC platforms to reduce dependency on Western financial systems. CBDC networks allow nations to bypass traditional financial infrastructure and reduce reliance on the US dollar in cross-border trade. Australia must navigate these global power struggles while remaining ahead in digital finance.



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