Much of the recent policy debate over virtual currencies has been alarmist, with commentators going so far as to call for banning all cryptocurrencies or warning that U.S. efforts to develop digital dollars would wreck the banking system. The conversation around central bank digital currencies, or CBDCs, illustrates the point. Whereas cryptocurrencies like Bitcoin are decentralized, CBDCs are issued and managed by a nation’s monetary authority. The idea has taken off around the world in recent years, largely in response to the rapid pace of digital innovation and to frictions within the existing financial system. Over 80 countries are in some [...]
In the pantheon of state-led cyber operations, Russia has historically led when it comes to disinformation and sowing the seeds of social discord, while China was traditionally associated with intellectual property theft. There are signs that is changing, though, with China reportedly stepping up its disinformation campaigns on social media. Earlier this month, Mandiant Threat Intelligence reported two significant advances in online influence campaigns in support of the People’s Republic of China—one involving the use of accounts in multiple languages across many different social media platforms, and the other involving attempts to physically mobilize protests on the ground, on topics ranging from [...]
Editor’s Note: This is the web version of our subscriber-only weekly newsletter, China Note, which includes a look at the week’s top stories and best reads from and about China. Subscribe to receive it by email every Wedenesday. If you’re already a subscriber, adjust your newsletter settings to receive it directly to your email inbox. Last Wednesday, the Biden administration unveiled a historic security partnership in the Indo-Pacific region between the U.S., Australia and the U.K., known as AUKUS. As part of the deal’s terms and conditions, the United States and the United Kingdom will help Australia build and deploy nuclear-powered submarines, as [...]
