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China and the Digital Yuan: What's at Stake?

A panel of experts discussed the digital yuan’s economic and security implications for China and the ripple effects it may have across the global economy.
Darrell Duffie
Yaya Fanusie
Cécile Shea
Event Date

About This Event

The Chinese government is reimagining money through the digital yuan, aiming to accelerate the replacement of cash. In a time when digital payments through platforms such as WeChat Pay and Alipay are increasingly common, advocates of the digital yuan argue it will compete with the US dollar as the default global currency and reduce user risk. Critics argue it may become another tool for surveillance. Stanford’s Dr. Darrell Duffie, CNAS’s Yaya Fanusie, and others will discuss the technology behind the use of the digital yuan, what it means for consumers, and what economic and security implications are at stake for China, the United States, and other major world economies.

About the Speakers
Adams Distinguished Professor of Management and Professor of Finance, Graduate School of Business, Stanford University
Duffie is the Adams Distinguished Professor of Management and professor of finance at Stanford University's Graduate School of Business. He is also a research fellow of the National Bureau of Economic Research and a fellow of the American Academy of Arts and Sciences. Duffie was the 2009 president of the American Finance Association. He co-chairs the Hoover Institution’s working group on China’s Central Bank Digital Currency and is on the advisory board of Stanford University’s Future of Digital Currency Initiative.
Adjunct Senior Fellow, Energy, Economics and Security Program, Center for a New American Security
Yaya J. Fanusie is an Adjunct Senior Fellow at the Center for a New American Security. Fanusie spent seven years as both an economic and counterterrorism analyst in the CIA. In 2009, he spent three months in Afghanistan providing analytic support to senior military officials, and he is also the founder of Cryptocurrency AML Strategies.
Nonresident Senior Fellow, Global Security and Diplomacy
Council expert Cécile Shea
Cécile Shea is a nonresident senior fellow on security and diplomacy at the Chicago Council on Global Affairs. She is the president of Wakaru Communications and a special advisor to the Council’s Next Generation programs.
Council expert Cécile Shea