Adam Wolfe on Bloomberg: Calls Emerge for PBOC to Drop ‘Helicopter Money’
Beth McCann
19th MAY. 2022
ASR’s China EM Economist Adam Wolfe commented on digital yuan in conversation with Bloomberg’s Ye Xie: “The PBOC could “drop” money into people’s digital wallets…”
Adam noted that digital yuan would help tide consumers over during Covid lockdowns, compensating them for lost income. The beauty of the e-CNY is that the PBOC can set an expiration date, and determine which goods and services the money can be spent on, so that the cash won’t be saved or spent on financial speculation. “If done alongside economic re-opening, that might generate a swift recovery.”
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