New Indonesia–China payment system: Chinese on de-dollarization spree in Southeast Asia

China is steadily internationalizing the yuan, now launching a new cross-border QR payment system with Indonesia.  (That is the correct nomenclature – internationalizing and not reserve currency).

What’s the new payment system about?

♦️ Users can now use local mobile apps, like China’s Alipay and Indonesia’s QRIS, to scan QR codes and make retail payments in either… Continue reading