News Analysis A controversial plan to boost global liquidity means the days of the U.S. dollar being the undisputed king of the international monetary system may be coming to a close, experts told The Epoch Times. Losing that status could contribute to a serious crisis for the United States involving a dramatic loss of economic…
Concerns Surround IMF Plan to Flood World With Liquidity
July 13, 2021
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Which Way for China’s Yuan?
Commentary The People’s Bank of China (PBOC) is in a bind. On the one hand, the country’s leadership wants to make the yuan a global currency by 2050, replacing the dollar as the world’s preferred reserve currency and primary medium for world trade. On the other hand, China remains very much an export-oriented economy that…
China’s Digital Yuan Will Not Topple the Dollar, SEC Official Says
April 29, 2021
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LONDON—China’s planned digital yuan will not dethrone the dollar, a top Securities and Exchange Commission official said on Thursday, citing the growth of so-called stablecoins backed by the greenback. The world’s biggest central banks, including the People’s Bank of China and U.S. Federal Reserve, are stepping up work on issuing digital cash, eyeing improvements to…
Payments Standard System SWIFT Forms Joint Venture in China
News Analysis Financial messaging and international payments leader SWIFT has set up a joint venture with the People’s Bank of China (PBoC)’s digital currency arm. The move offers SWIFT a product to comply with China’s local laws, legitimizes China’s digital yuan to an extent, and removes some risk of the yuan being cut off from…
Payment Standards System SWIFT Forms Joint Venture in China
News Analysis Financial messaging and international payments leader SWIFT has set up a joint venture with the People’s Bank of China (PBoC)’s digital currency arm to create a product to comply with China’s local laws, legitimize China’s digital yuan to an extent, and remove some risk of the yuan being cut off from the SWIFT…
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