The US Federal Reserve expanded its US dollar swap lines to 14 central banks from five previously, but China, along with Russia and Turkey, were not included. Photo: Bloomberg
The US Federal Reserve expanded its US dollar swap lines to 14 central banks from five previously, but China, along with Russia and Turkey, were not included. Photo: Bloomberg

Coronavirus: China refuses to be beholden to US dollar even as pandemic creates shortage

  • A shortage of US dollars created by increased demand during the coronavirus pandemic threatens Chinese companies’ ability to raise new funds to pay off existing debts
  • The US Federal Reserve has expanded its US dollar swap lines to 14 central banks, but not the People’s Bank of China

The US Federal Reserve expanded its US dollar swap lines to 14 central banks from five previously, but China, along with Russia and Turkey, were not included. Photo: Bloomberg
The US Federal Reserve expanded its US dollar swap lines to 14 central banks from five previously, but China, along with Russia and Turkey, were not included. Photo: Bloomberg
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