According to China Daily, Harvard economist Kenneth Rogoff predicts that the United States is at least a decade away from issuing its own central bank digital currency (CBDC), and the People’s Bank of China is far ahead of other major central banks.
Kenneth Rogoff predicts that the growth of the digital yuan will eventually boost the international use of the yuan. Global accounting firm PricewaterhouseCoopers found that the U.S. ranks 18th in central bank digital currency innovation, trailing not only China but smaller countries such as the Bahamas, Ecuador and Turkey.