China throws down the gauntlet; claims over $1.2T transactions bypassing SWIFT. How will US respond?
China’s launched on Monday March 17, 2025 the digital 人 民 币 RMB settlement system.
It includes the 10 ASEAN countries and 6 Middle Eastern countries and already represents 38% of global trade.
Has China stolen a march over the mighty United States in the next currency war? According to many reports, the Digital Renminbi (RMB) based transactions have exceeded USD $1.2 Trillion! How did this happen? Is the SWIFT system going, going, gone?
It would be good (best) if all major players act together now with different actions to show that nothing can be done, because none of these players are isolated, but the US is.
Apparently, this would be the most logical course of action. I sense the reason it is not happening, after so many years of bad prospects and diagnosis about the “unhealthy” and unsustainable situation surrounding the dollar, swift and FMI etc is the rampant corruption among the political elites. Politics is… Read more »
Well yes: In many countries a bourgeois comprador ruling class relies on the United States empire of dollar power etc to protect itself from its own people. Who needs rational logic when your core felt need is to protect your class interests from the “terror” you feel at the hands… Read more »