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August 12th, 2021

Dawn of the digital yuan

50 years after the "Nixon shock," a new era is unfolding

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The Big Story

Will China's digital yuan vanquish the dollar?

50 years after the 'Nixon shock,' a new era in international finance is dawning

China could be waging its biggest attempt yet to threaten dollar hegemony and the monetary system that emerged after World War II.
Members of Japan's artistic swimming team watch fireworks during the closing ceremony to the Tokyo Olympics on Sunday.
Asia Insight

Asia's Olympic star rises on record medal haul and viewership

But patchy investment and geopolitics cast doubt on continued success

Gold medalist Sunisa Lee of the U.S. celebrates her victory in the women's gymnastics all-around event.
Tokyo 2020 Olympics

Sunisa Lee's gold medal stirs hopes for Hmong in US

Gymnast's grit in face of hardship resonates with Laotian group's past

Chinese President Xi Jinping inspects a venue for Olympic figure skating in Beijing on Jan. 18. 
International relations

As Tokyo Games end, boycott debate looms over Beijing Olympics

Human rights activists say freedom has retreated in China since 2008

Vietnam has witnessed an explosion of digital wallets, such as MoMo, Grab's Moca, ZaloPay and VNPAY, used at businesses like this convenience store in Ho Chi Minh City. (Source photos by Lien Hoang and Ken Kobayashi) 
Business Spotlight

Vietnam emerges as Southeast Asia's next fintech battleground

E-wallet app MoMo looks to maintain its lead against deep-pocketed rivals

Bukalapak went public in August amid fanfare but its share price has since languished. (Screenshot from Bukalapak app) 
IPO

Bukalapak becomes Indonesia's 13th most valuable public company

Trading in e-commerce platform's shares suspended after 25% opening surge

Tencent, which started out in gaming, has become a Chinese tech giant comparable to e-commerce juggernaut Alibaba Group Holding.
China tech

China's tech crackdown widens to Tencent from Alibaba

Communist Party scrambles to rein in country's online giants

Chea Serey, director general of the National Bank of Cambodia, speaks at the launch event of the central bank's "Bakong" digital currency, in Phnom Penh, Cambodia, in October, 2020.
Currencies

Cambodia aims to wean off US dollar dependence with digital currency

Southeast Asian country's 'Bakong' users grow amid COVID-driven digital shift

Malaysian Prime Minister Muhyiddin Yassin's tenure in power since March 2020 has been anything but smooth.
Malaysia in transition

Malaysia political woes deepen as economy wilts: 5 things to know

How Muhyiddin's government was pushed to the brink -- and how he might survive

A trader works during Didi Global's IPO in New York on June 30. Beijing has tightened its control over internet giants such as Didi, Alibaba Group Holding and Tencent Holdings.
The Nikkei View

Investors should beware of broader private sector crackdowns in China

Growing restrictions on for-profit activities may undermine startup investment rationale

An art installation marking the centenary of the founding of the CCP, pictured at Tiananmen Square on July 2: China's demographic tailwind has run out of puff.
Opinion

Has China already peaked?

Latest census figures show that talk of unstoppable momentum is misplaced

Jack Ma attends the Bund Summit in Shanghai in October 2020: Ma's ill-calculated speech broke the logjam.
Opinion

China's campaign to regulate Big Tech is more than just retaliation

Beijing has legitimate reasons to rein in giants such as Didi and Ant Group

Makoto Azuma stands beside a frozen flower sculpture he created in Hokkaido, Japan's northernmost main island. (Courtesy of Shunsuke Shiinoki)
Arts

Japanese artist finds new style of flower power

New York floral 'sculpture' will celebrate fight against COVID-19

Three young women who recently graduated from FLAME University in Pune have set up an online archive to collect recipes that are being forgotten amid more modern cuisine trends. (Photo courtesy of the Indian Community Cookbook Project)
Tea Leaves

Honoring past generations through culinary memories

Three Indian women gather long-forgotten recipes to revive and preserve forgotten culture