Radical, International and Historical

Tag Archives

Archive of posts published in the tag: Cross-Border Financial Telecommunications
Oct
19

China SWIFTly away from global banking system

China has launched its China International Payment System (CIPS), which is intended eventually to provide cross-border transactions denominated in its own currency, the Yuan or Renmimbi.[1] Why couldn’t China, and international Renmimbi users, simply rely on the already existing and well-established telecommunication system…