China Declares Currency War

[bannork]

China has announced plans to use its currency, the yuan, as a form of payment for international transactions, as it seeks to capitalise on Shanghai's status as a leading international financial centre, particularly in trade with nations across the Global South.

Moreover, the plan mentioned that Shanghai plans to strengthen the Cross-Border Interbank Payment System (CIPS) capabilities — China's counterpart to the global SWIFT payment system — and will persist in broadening its international reach and network coverage. 

The PBOC also stated its intention to enhance the development of CIPS, explore the integration of blockchain technology, and offer secure, efficient settlement and clearing services for international trade, shipping, investment, and financing transactions denominated in yuan.

China Declares Currency War: New Plan Aims to Replace the Dollar With the Yuan in Global Trade

 

[3NUMBAS]

As the dollar is now avoided something must take its place,euro and pound now wanted

[Tropicalevo]

10 minutes ago, 3NUMBAS said:

As the dollar is now avoided something must take its place,euro and pound now wanted

Swiss Franc?

 

https://www.investopedia.com/terms/c/chf.asp