With China’s e-CNY and as India pilots the e-Rupee, how will the rise of central bank digital currencies in the Global South challenge the dollar’s dominance in international trade?
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CBDC in the Global South and the American Dollar
CBDC in the Global South and the American Dollar
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CBDCs like e-CNY and e-Rupee could slowly chip away at dollar dominance by making cross-border trade cheaper, faster, and less dependent on U.S. financial systems. But real impact will take time — it depends on how widely these digital currencies are adopted internationally and whether trust in them can rival trust in the dollar.