Many economists believe China is unlikely to achieve a real internationalisation of the yuan without full capital-account liberalisation. Photo: Shutterstock
Many economists believe China is unlikely to achieve a real internationalisation of the yuan without full capital-account liberalisation. Photo: Shutterstock

China’s yuan-centred payment network no match yet for US-dominated global financial system: experts

  • Little evidence that Russian institutions have used Cross-Border Interbank Payment System to evade Western sanctions over Ukraine invasion
  • Yet Moscow’s situation a wake-up call for Beijing to bolster system amid rising risk of economic decoupling with Washington, analysts say

Many economists believe China is unlikely to achieve a real internationalisation of the yuan without full capital-account liberalisation. Photo: Shutterstock
Many economists believe China is unlikely to achieve a real internationalisation of the yuan without full capital-account liberalisation. Photo: Shutterstock
READ FULL ARTICLE