Time will tell. With India, patience is utmost important.
P.J.Joseph's Weblog On Colored Stones, Diamonds, Gem Identification, Synthetics, Treatments, Imitations, Pearls, Organic Gems, Gem And Jewelry Enterprises, Gem Markets, Watches, Gem History, Books, Comics, Cryptocurrency, Designs, Films, Flowers, Wine, Tea, Coffee, Chocolate, Graphic Novels, New Business Models, Technology, Artificial Intelligence, Robotics, Energy, Education, Environment, Music, Art, Commodities, Travel, Photography, Antiques, Random Thoughts, and Things He Like.
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Saturday, February 04, 2023
Sunday, February 07, 2021
Digital Yuan
China already is the world's biggest exporter, and will become the world's largest economy in dollar terms before the end of this decade. The Financial Gateway Information Service, the new company is the first official alliance of the Society for Worldwide International Financial Telecommunication and China's central bank. China's RNB accounts for just 2% of transactions in the SWIFT system today, and China's financial system is far from ready to take on a reserve role. All of that could change, and swiftly. A digital yuan will rewrite the rules of international banking.