Thinking About ChinaOpinionWill the Digital Yuan Challenge US Hegemony?Imminent debut of world’s first national cryptocurrency has very serious implications for US, the worldSavePrintA man uses his phone as he walks past ATM machines for digital currency Bitcoin in Hong Kong on Dec. 18, 2017. Anthony Wallace/AFP via Getty ImagesJames Gorrie6/10/2020|Updated: 6/23/2020CommentaryChina is now testing its digital version of the yuan after five years of development.We had a problem loading this article. Please enable javascript or use a different browser. If the issue persists, please visit our help center.Share this articleLeave a commentJames GorrieAuthorJames Gorrie is the author of the 2013 book “The China Crisis” and discusses current events and China on his YouTube Podcast, The Banana Republican. Author’s Selected ArticlesHow China Uses the Israel–Hamas Conflict to Reshape Global PoliticsDec 26, 2025How the CCP Persecutes Christians Who Celebrate Christmas in ChinaDec 23, 2025America’s Battle Against China’s Vast Spy NetworkDec 19, 2025How Tariffs Could Boost the US Economy and Fix the Trade Imbalance With ChinaDec 04, 2025Related Topicsbitcoinyuandigital currencydigital yuan