Technology, not geopolitics, may recast the world monetary order
Tech enablers are freeing global payments from the dollar’s clutches but the renminbi isn’t a gainer
Source: livemint.com
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Will geopolitics or technology reshape the global monetary order?
BERKELEY — When the United States and its G-7 partners imposed sanctions on Russia’s central bank and barred Western financial institutions from doing business with Russian counterparties, commentators warned of far-reaching changes in the global monetary and financial order. Other countries would see those sanctions as yet another step in the West’s “weaponisation” of finance.
Source: jordantimes.com