nCa Report The practice of countries engaging in mutual trade and settlements using their own local currencies, often facilitated by bilateral currency swap agreements (BSAs), has gained momentum as part of broader dedollarization efforts. These arrangements allow nations to bypass third-party currencies like the US dollar or euro, reducing transaction costs, foreign … [Read more...]
It is not Yuan against Dollar tussle. It is evolving nature of global economy.
It's interesting to see how trade dynamics are shifting in subtle ways across the globe, driven more by practical needs than any grand showdown. Take the recent buzz from Central Asia, for instance. --- According to a fresh report from Eurasianet, the Chinese yuan is quietly picking up steam as a payment option in regional commerce, especially in Kazakhstan. There, on the … [Read more...]
Russia and China Deepen Financial Alliance With Moscow’s Landmark Yuan Bond Issue
Russia has taken a major step toward fuller integration with China’s financial system by issuing its first sovereign bonds denominated in Chinese renminbi, raising nearly $3 billion in a transaction that both sides hailed as a milestone in their rapidly expanding economic partnership. The information comes from the Financial Times and the Russian media. The Russian Finance … [Read more...]
Is the US Dollar heading toward collapse? – Part Two
Tariq Saeedi The BRICS summit will be held in Kazan, Russia, 22-24 October 2024. Three major announcements are expected. One of them is the launch of the BRICS Pay, an alternative system aimed at de-dollarization. Blockchain-based, it could possibly be one of the biggest geopolitical and economic developments of recent years. Moreover, it will operate as the global south’s … [Read more...]