China has made a strategic and quiet move in cross-border payments. They are now based on the digital yuan for transactions with 10 ASEAN countries and six Middle Eastern countries, bypassing the Swift system.The People's Bank of China has been the e
  • ☆ Yσɠƚԋσʂ ☆@lemmy.mlOP
    4·
    18 days ago

    I think it’s more about the development of cross border payment systems outside US control. If countries start trading using Chinese system then trade becomes completely opaque for the US, and they can no longer impose sanctions.

    • davel@lemmy.mlEnglish
      3·
      18 days ago

      Yes, and SWIFT is no less digital. I’m only speaking to the silly “digital money” buzzword I’ve been hearing from governments, the WEC, and the media in the last few years. The fascist conspiracy theorists say it’s a (((globalist))) plot. It’s cringey any way you look at it.