China’s CBDC has spurred China’s banks to innovate, they are not asleep and are moving at a pace that Western banks would envy:
“But that progress hasn’t been without its difficulties –
Turrin explains that some of China’s banks were initially rather resistant: “Banks have now been shaken from their slumber. And they are now very active in digital because the digital platforms came along and fundamentally changed financial technology and how we use money in China. So they’ve had to adapt and they’ve had to change.”
