Aussie research university says China’s CBDC push puts Australia at crossroads

Imagine money as a digital coin, like in a video game! Many countries are making their own digital money called CBDCs (Central Bank Digital Currencies). This is changing how countries trade with each other. It's like a new, faster way to send and receive money.

• China is leading the way with its digital yuan, making trade easier.
• The US is debating about creating its own digital dollar, but there are disagreements.
• Many countries are exploring ways to use digital money to trade without depending so much on the US dollar.

Australia needs to decide what to do. Using China's digital money could be good for trade, but might mean less control over its own economy. The US's choices could also affect Australia's decisions.