Would Anyone Use a Chinese Stablecoin?

The article discusses the potential for a Chinese stablecoin, following a new law in Hong Kong that could enable the development of digital currencies linked to China. The law would allow the Hong Kong Monetary Authority to issue e-HKD, a digital version of the Hong Kong dollar, and potentially open the door for a Chinese central bank digital currency (CBDC). The article notes that the introduction of a Chinese stablecoin could have significant implications, as it would give China more control over its currency and financial system. However, it also raises questions about the potential use and adoption of such a digital currency, both within China and internationally. The article highlights concerns about the Chinese government's ability to monitor and control transactions, as well as the potential impact on the global financial system. It also discusses the potential challenges in terms of user adoption and the competition with existing digital payment systems, such as those offered by tech giants like Alibaba and Tencent.