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China’s Guangxi Zhuang Pioneers Use of E-Yuan in Trade With Southeast Asia

China's push to establish itself as a leader in digital finance is being spearheaded by Guangxi Zhuang, a southeastern region that is pioneering the use of the country's Central Bank Digital Currency (CBDC), the e-yuan, in trade with Southeast Asian countries. This move highlights China's strategic drive to expand the reach of its CBDC on a global scale.

Guangxi Zhuang, in collaboration with the People's Bank of China's Nanning branch, is working to accelerate the implementation of the CBDC. The use of the e-yuan domestically and internationally aligns with China's goals to bypass potential Western sanctions and gradually reduce the US dollar's global dominance in trade settlements.

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