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More De-Dollarization: China’s Global Payment System Ready And Could Launch By September
China’s long-awaited global payment system to process cross-border yuan transactions is ready and could launch as early as September, Reuters reported on Monday, citing sources with direct knowledge of the matter. The launch of the China International Payment System (CIPS) will pave the way for internationalizing the yuan and should greatly increase global usage of the Chinese currency by cutting … Continue reading
De-Dollarization: China Is Now Advertising The Renminbi As The ‘New World Currency’
By Michael Snyder The Chinese do not plan to live in a world dominated by the U.S. dollar for much longer. Chinese leaders have been calling for the U.S. dollar to be replaced as the primary global reserve currency for a long time, but up until now they have never been very specific about what … Continue reading
More De-Dollarization: India And Russia On The Verge Of Currency Agreement
Although the U.S. dollar (USD) has surged to over an 11 year high, there is bad news ahead for the future of the USD as emerging nations are progressively steering away from the “greenback” ahead of the launch of the new BRICS bank. A multi-national currency deal between Russia and India is looking more likely to be … Continue reading
Global De-Dollarization And U.S. Policies
By Vladimir Odintsov In its quest for world domination, which the White House has been pursuing for more than a century, it relied on two primary tools: the US dollar and military might. In order to prevent Washington from establishing complete global hegemony, certain countries have recently been revising their positions towards these two elements … Continue reading
De-Dollarization: China, Russia Launch Financial Tools In Local Currencies
China and Russia have effectively switched to domestic currencies in trading using financial tools as swaps and forwards, as they seek to reduce the influence of the US dollar and foreign exchange risks. The agreement signed in the end of October comes into force Monday, December 29, and provides a currency swap of CNY150 billion … Continue reading
De-Dollarization: Is BRICS A Viable Alternative To The U.S. Dominated World Economic System?
By Asad Ismi and Peter Koenig Canadian Centre for Policy Alternatives Monitor, Global Research Economist and Geopolitical analyst Peter Koenig talks to Asad Ismi of the Canadian Centre for Policy Alternatives: Is BRICS (Brazil, Russia, China, India and South Africa) a viable alternative to the present U.S.-dominated world economic system and does it have the potential to replace … Continue reading
Russia, China Deepen Stock Exchange Ties
Russia’s largest exchange group the Moscow Exchange (MOEX) and the China Financial Futures Exchange (CFFEX) signed an Memorandum of Understanding (MoU) on Thursday that will help further develop financial ties between the countries. The MoU signed by both exchanges aims to strengthen the bilateral partnership and facilitate the development of both parties through information sharing, reciprocal … Continue reading
BRICS Bank To Start Lending In Local Currencies In Q1 2016, President Says
The $100 billion New Development Bank (NDB), also known as the BRICS bank, which comprises of the members of the BRICS grouping of emerging market nations — Brazil, Russia, India, China, and South Africa — will start lending in local currency by April 2016 and its member countries will be the primarily focus of the bank, K.V. Kamath, the President of … Continue reading
India, Pakistan Upgraded To Members Of The Shanghai Cooperation Organization (SCO)
The Shanghai Cooperation Organization (SCO) has decided to upgrade India and Pakistan to full members of the regional security bloc led by China and Russia. The Shanghai Cooperation Organization (SCO) has decided to upgrade India and Pakistan to full members of the regional security bloc led by China and Russia. The SCO said that the invitation to the two Asian nations brings forth the evolution of … Continue reading
BRICS Launch New $100 Billion Bank, Sign Agreement On $100 Billion Currency Reserve Pool
The BRICS grouping of emerging market nations — Brazil, Russia, India, China, and South Africa — have launched their $100 billion New Development Bank (NDB) — also known as the BRICS bank — and have signed an agreement on their $100 billion currency reserve pool — also known as the Contingent Reserve Arrangement (CRA) — ahead of the summit of SCO and BRICS being held in the Russian … Continue reading
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