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CNN Fareed Zakaria GPS June 4, 2024 17:05:00

Weaponizing of the dollar over the last decade has led many important countries to search for ways to make sure that they do not become the next russia. the numbers are revealing. the share of dollars in global central bank reserves has dropped from roughly 70% 20 years ago to less than 60% today and falling steadily. the europeans and the chinese are trying to build international payment systems outside the dollar dominated swift. saudi arabia has flirted with the idea of pricing its oil in yuan. india s settling most of its oil purchases from russia in non dollar currencies. digital currencies might be another alternative, and in fact, china s central bank has created one all of these alternatives add costs. but the last few years should have taught us that increasingly, nations are willing to pay a price when they want political goals to trump economic ones. we keep searching ....

Payment Systems , Central Bank , Saudi Arabia , China S Central Bank , United States ,

CNN Fareed Zakaria GPS June 4, 2024 17:03:00

Russia and china are accelerating efforts to diversify away from the dollar. central banks are keeping less of their reserves in dollars and most straight between them is being settled in the yuan. they are also making efforts to get other countries to follow suit. the biden administration has handled the economic war against russia extremely effectively by building a coalition of almost all the world s advanced economies. that makes it hard to escape from the dollar into other highly valued stable currencies like the euro or the pound or the canadian dollar because those countries are also warring with russia. what might have been a sharper turning point for the dollar s role was donald trump s decision in me 2018 to pull out of the iran nuclear deal. the european union was strenuously opposed to this move, but it watched as the dollar s dominance meant that iran was immediately excluded from the world economy. jean ....

Donald Trump , Turning Point , Jean Claude Juncker , European Union , World Economy , Iran Nuclear Deal ,

Central bank conducts reverse repos

The People's Bank of China on Friday conducted 7 billion yuan ($1.02 billion) of seven-day reverse repos at an interest rate of 2 percent. ....

People Bank , European Union , Regional Comprehensive Economic Partnership , China Foreign Exchange Trade System , Shanghai Customs , China Foreign Exchange Trade , Year On ,

Policies help increase Tibet's trade overseas

The Tibet autonomous region stepped up its policy support for foreign trade with its total exports and imports growing steadily last year. ....

Sri Lanka , Ministry Of Commerce , Nepal Ministry Of Industry , Southwest China , Lhasa Customs , Tibet Daily , Gyirong Border Economic Cooperation Zone , Gyirong Border Economic Cooperation , South Asian ,

China Cultural Centre in Malta welcomes Kalkara senior citizens' visit

Promoting cultural exchanges between China and Malta ....

Great Wall , China General , Tai Chi , Charlie Mallia , Speranza Chircop , Community Chest Fund , China Cultural Centre , Rabbit Annunciation , Zodiac Cultural , Creative Exhibition , Happy New Year , China Zodiac Design Exhibition , Lord Rabbit , White Rabbit , Chinese New Year Gala ,