The changing role of the US dollar
www.brookings.edu
Foreign governments have taken note. In 2015, China built the Cross-border Interbank Payment System (CIPS) which, in addition to integrating messaging and payment systems, allows countries to bypass SWIFT, CHIPS, and the dollar. SWIFT remains much larger than CIPS, though the latter has been growing
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- Foreign governments have taken note. In 2015, China built the Cross-border Interbank Payment System (CIPS) which, in addition to integrating messaging and payment systems, allows countries to bypass SWIFT, CHIPS, and the dollar. SWIFT remains much larger than CIPS, though the latter has been growing rapidly in recent years. The Chinese are also dev...
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macro
dollar-dominance
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