As testing continues on China’s much-anticipated digital currency, how much will this help to internationalize the Renminbi while undermining the US dollar? Image credit: Shutterstock How will the digital yuan impact luxury consumption?
Posted Bya Luxury Daily columnistOn In Featured,Industry sectors,Retail | No Comments
As testing continues on China’s much-anticipated digital currency, how much will this help to internationalize the Renminbi while undermining the US dollar? Image credit: Shutterstock {"ct":"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","iv":"03034ef9e50064a8f112dd659b35050d","s":"0470f2d963520ba9"}