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AbstractIn what ways might the digital renminbi (RMB), also known as e-CNY, bolster China's efforts to internationalize its currency? Utilizing Susan Strange's concept of currency negotiation and borrowing the concept of infrastructures from science, technology, and society studies, this article argues that RMB internationalization is a gradual process that relies heavily on negotiation involving both state and non-state actors (i.e., private financial authorities). It further argues that while e-CNY may create new opportunities for RMB internationalization, it also raises new challenges. First, the e-CNY's lack of coordination with other central banks represents a challenge for future evolution and standardization with other digital currency platforms, thus rendering first-mover status a potential disadvantage. Second, as a result of China's divergent data governance direction from both the US and the EU, the e-CNY is disadvantaged when it comes to interoperability, trust of users, and diversity of data. The purpose of this study is not to predict the future of RMB internationalization once the e-CNY rolls out but rather to highlight various ways in which the latter may influence the former in order to widen analyses of the topic.

Prior to British colonization, there was a general trend by the (Muslim) Mughal Empire to integrate Hindus into the civil and military administrations. They also actively sought to bridge any religious divides and to create a more coherent society through matrimony. However, with the onset of British colonial rule, this generally harmonious existence started to fade away. The British believed that Muslims and Hindus naturally consisted of separate nations. In fear of Hindu domination, began to champion the idea of a separate Muslim majority nation state in north-western and north-eastern India, where Muslims were in the majority. In 1947, with the creation of Pakistan, this became a reality. Pakistan came into existence with the duty of being the Muslim homeland in South Asia.However, in this paper I argue that even though Pakistan was create as a nation for Muslims, it was never an Islamist state, like that of Iran immediately post 1979 Revolution, but instead remained secular. The word secular is often simplified as the separation of church (or whatever religious institution) and state or just wholly misinterpreted. Moreover, secularism is often seen as a pre-requisite to democracy and modernity. Hence, I would like to explore a couple of ideas: one, what secularism really implies; two, the consolidation of democracy and Alfred Stepan's theory of the "Twin Tolerations"; third, the development of Pakistan's institutions and its relationship with Islam.