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This research explores the emergence and importance of central bank digital currencies among leading economies, focusing on the U.S. and China.

China, the United States, and central bank digital currencies: how important is it to be first?

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Overview of CBDC development by major central banks, highlighting differences between China and the USA.

This research explores the emergence and importance of central bank digital currencies among leading economies, focusing on the U.S. and China.
Evaluated the current state of CBDC exploration by major central banks.
Analyzed the development strategies of the People's Bank of China and the Federal Reserve.
China has actively piloted and prepared to issue a CBDC since early 2016.
The U.S. Federal Reserve has yet to commit to launching a CBDC, indicating a significant developmental gap.

Martin Chorzempa (2021) studied this question.

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