China urged to tap RCEP trade deal for future digital payments system as US sanctions loom

China should consider using digital technology to develop an alternative to the SWIFT financial payments system as a way of insulating itself from being cut off from the US-dominated financial messaging service, according to Liu Xiaochun, deputy dean of the Shanghai New Finance Research Institute.The SWIFT system – the world’s largest electronic payment messaging system – and the US-based Clearing House Interbank Payments System (CHIPS) have afforded Washington broad powers to impose economic…

This post was originally published on South China Morning Post.

Print Share Comment Cite Upload Translate Updates

APA

Karen Yeung | radiofree.asia (2024-04-24T23:57:34+00:00) » China urged to tap RCEP trade deal for future digital payments system as US sanctions loom. Retrieved from https://radiofree.asia/2021/01/15/china-urged-to-tap-rcep-trade-deal-for-future-digital-payments-system-as-us-sanctions-loom/.

MLA

" » China urged to tap RCEP trade deal for future digital payments system as US sanctions loom." Karen Yeung | radiofree.asia - Friday January 15, 2021, https://radiofree.asia/2021/01/15/china-urged-to-tap-rcep-trade-deal-for-future-digital-payments-system-as-us-sanctions-loom/

HARVARD

Karen Yeung | radiofree.asia Friday January 15, 2021 » China urged to tap RCEP trade deal for future digital payments system as US sanctions loom., viewed 2024-04-24T23:57:34+00:00,<https://radiofree.asia/2021/01/15/china-urged-to-tap-rcep-trade-deal-for-future-digital-payments-system-as-us-sanctions-loom/>

VANCOUVER

Karen Yeung | radiofree.asia - » China urged to tap RCEP trade deal for future digital payments system as US sanctions loom. [Internet]. [Accessed 2024-04-24T23:57:34+00:00]. Available from: https://radiofree.asia/2021/01/15/china-urged-to-tap-rcep-trade-deal-for-future-digital-payments-system-as-us-sanctions-loom/

CHICAGO

" » China urged to tap RCEP trade deal for future digital payments system as US sanctions loom." Karen Yeung | radiofree.asia - Accessed 2024-04-24T23:57:34+00:00. https://radiofree.asia/2021/01/15/china-urged-to-tap-rcep-trade-deal-for-future-digital-payments-system-as-us-sanctions-loom/

IEEE

" » China urged to tap RCEP trade deal for future digital payments system as US sanctions loom." Karen Yeung | radiofree.asia [Online]. Available: https://radiofree.asia/2021/01/15/china-urged-to-tap-rcep-trade-deal-for-future-digital-payments-system-as-us-sanctions-loom/. [Accessed: 2024-04-24T23:57:34+00:00]

rf:citation

» China urged to tap RCEP trade deal for future digital payments system as US sanctions loom | Karen Yeung | radiofree.asia | https://radiofree.asia/2021/01/15/china-urged-to-tap-rcep-trade-deal-for-future-digital-payments-system-as-us-sanctions-loom/ | 2024-04-24T23:57:34+00:00

To access this feature and upload your own media, you must Login or create an account.

Add an image

Choose a Language

A Free News Initiative