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Is America Losing the Digital-Currency Race?
With the explosive proliferation of cryptocurrencies, including China's introduction of a digital renminbi, it is not surprising to hear panicked warnings about the looming decline of the dollar. But the truth is that the greenback is the prime beneficiary of today's market developments.
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WASHINGTON – America’s global position is slipping. The reign of the dollar is waning as China, Russia, and other potentially hostile countries digitize their currencies and create parallel payment networks that can circumvent the long arm of US and Western sanctions.