The Hoover Working Group on the Global Implications of China’s Central Bank Digital Currency, led by Darrell Duffie and Elizabeth Economy, is comprised of approximately 25 leading authorities in economics, technology, national security, and China studies. The Working Group will produce a multi-chapter report intended to inform US policymakers on the global implications of China's Digital Currency and Electronic Payment (DC/EP) system. The report will have three main themes: 1) The domestic drivers of the DC/EP initiative and its implications for Chinese domestic political and economic priorities; 2) potential use of DC/EP for cross-border payments and within the domestic payment systems of other countries; and 3) the impact on U.S. geostrategic interests, such as the dominance of the dollar and U.S. political and economic influence globally. The report will conclude with a roadmap for U.S. policymakers that will assess the opportunities and challenges posed by DC/EP and recommend courses of action.



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Darrell Duffie

Darrell Duffie

Senior Fellow

Darrell Duffie is the Dean Witter Distinguished Professor of Finance at Stanford University's Graduate School of Business, professor (by courtesy) at the Department of Economics, and Senior Fellow (by courtesy) at the Hoover Institution.

Elizabeth Economy

Elizabeth Economy

Senior Fellow (ON LEAVE)

Elizabeth Economy is a senior fellow at the Hoover Institution at Stanford University and a senior fellow for China studies at the Council on Foreign Relations, where she previously served as the C.V. Starr senior fellow and director for Asia Studies for over a decade. Economy is currently on leave serving as a senior foreign advisor in the Department of Commerce for the current administration.

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