China’s central bank digital currency, known as ‘DC/EP’ (digital currency/electronic payment), is rapidly progressing and, if successful, will have major international implications that have not yet been widely considered by policymakers.

As the Communist Party of China’s 18th National Congress oversees the biggest leadership transition in decades, Sally Warhaft catches up with China watcher and correspondent John Garnaut to examine the world’s largest, and perhaps most complex and intriguing, political system — plus the country that...