Saturday , July 11 2020
Home / South China Morning Post / China warned to prepare for being cut off from US dollar payment system as part of sanctions like Russia

China warned to prepare for being cut off from US dollar payment system as part of sanctions like Russia

Summary:
[unable to retrieve full-text content]China must prepare for the risks of being cut off from the US dollar payment system in case the United States sanctions Chinese companies and banks, just like Washington did with Russian institutions, a senior Chinese financial regulator said on Monday.Fang Xinghai, a vice-chairman at the China Securities Regulatory Commission, said that as China mainly relies on the US dollar payment system in international deals, it makes it vulnerable to possible US sanctions.“Such things have already…

Topics:
Frank Tang considers the following as important:

This could be interesting, too:

Tyler Durden writes Trump Commutes Roger Stone’s Prison Sentence

Tyler Durden writes “It’s Going To Be A Mess” – Quarter of NYC Renters Haven’t Paid Since March

Tyler Durden writes The Illiberalism At The Heart Of Cancel Culture

Tyler Durden writes YouTube Removes Video Of Popular EV Owner Explaining Why He Traded His Tesla For A Gas-Powered Car

[unable to retrieve full-text content]
China must prepare for the risks of being cut off from the US dollar payment system in case the United States sanctions Chinese companies and banks, just like Washington did with Russian institutions, a senior Chinese financial regulator said on Monday.Fang Xinghai, a vice-chairman at the China Securities Regulatory Commission, said that as China mainly relies on the US dollar payment system in international deals, it makes it vulnerable to possible US sanctions.“Such things have already…

Leave a Reply

Your email address will not be published. Required fields are marked *