Economist Podcasts Baby bust: China’s census
May 12, 2021
Simon Rabinovich, Asia economics editor for The Economist, dives into China's groundbreaking census data, revealing a stagnating population and the economic challenges of an aging demographic. Alice Fullwood, the Wall Street correspondent, discusses the rise of central bank digital currencies, or 'govcoins,' and their potential to reshape monetary policy and access to banking. The episode also touches on fascinating wildlife research from Ecuador that uses roadkill to track elusive species, showcasing the unexpected ecological insights gleaned from this method.
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Central Bank Digital Currencies
- Central banks are exploring digital currencies to maintain control over monetary policy.
- They aim to compete with private digital payment platforms.
CBDCs vs. Cryptocurrencies
- Central bank digital currencies (CBDCs) are government-issued and backed, unlike cryptocurrencies.
- They would likely use blockchain technology but remain under central bank control.
Risk to Private Banks
- CBDCs pose a risk to private banks as they offer a potentially more secure alternative.
- This could disrupt the current banking system's role in credit creation.