Is the renminbi a feasible alternative to the U.S. dollar, U.S. banks and SWIFT as a cross-border financial vehicle? Macroeconomic outlook and stabilization policiesA new international monetary landscapeThe sustainability of sovereign debtCheck out our Festive offers upto Rs.1000/- off website prices on subscriptions + Gift card worth Rs 500/- from Eatbetterco.com. That would risk dividing the international monetary system into two main currency blocs: the U.S. dollar and the renminbi. “In such a case, countries would have to choose between doing business with the dollar or the renminbi, polarizing the international monetary system. Thus, debt sustainability requires expanding non-debt-creating financial support, bond contracts linked to climate risks and climate actions, and better coordination among official creditors, including China.

Source: Forbes July 10, 2023 05:30 UTC