China plans to get rid of the dollar

Wednesday, 24 June, 2020 - 10:33

Refusing the US national currency, Beijing intends to create a parallel payment system for the EAEU.

United States sanctions could lead to China being cut off from the dollar-based payment system, deputy chairman of the Securities Control Committee of China, Fan Xinghai, said.

The process of abandoning the US currency will take a long period of time. .

To ensure safety, the PRC authorities are developing their own money transfer system for partner countries on the One Belt- One Road initiative, but disconnecting from dollar settlements will cause the restructuring of world trade