Markets

CIPS could prove to be a long-term threat to US-centric financial system

By Justin Pugsley
BRR fallback image

China’s Cross-Border Interbank Payment System does not pose an immediate threat to the dollar, the US-centric global payment system nor the country’s ability to wage sanctions. But this could change further down the road.

Some observers are concerned that the Cross-Border Interbank Payment System (CIPS), launched in October 2015, could ...

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