Borders remain closed+ How steadily does Xi sit in the saddle?
Is anyone surprised that it is the People's Republic of China that is leading the global race to develop an electronic currency? By creating the regulatory framework, the government enables its country's smart minds to have enough fun churning out more and more new ideas. And it provides enough money to keep those ideas from fizzling out. The electronic yuan is all set to be used as a means of payment at the 2022 Winter Olympics.
That's why it was about time for Europe to think more intensively about a digital euro, according to our guest commentator Nils Beier. Nevertheless, Europe would be well-advised not to rush through but to shape the regulatory framework to preserve its citizens' fundamental rights and privacy. The challenge now is to play out the strengths of liberal societies. Not necessarily a strength of the Chinese government.
This probably applies equally to dealing with Chinese threat potential, which the Europeans – finally, I would say – have recognized and are also voicing openly. "China is willing to use economic sanctions to change EU policy," is the verdict of the European Council on Foreign Relations report, examined by our EU expert Amelie Richter.