In the wake of unpredicted sanctions levied against Russia, will China be able to advance its own efforts to challenge US dollar dominance and promote alternatives to SWIFT? While its progress has been limited to date, how might dynamics evolve in the coming months and years as the global financial system responds to recent geopolitical shocks?
By Barry Eichengreen, PDF below, original post here: https://www.csis.org/analysis/sanctions-swift-and-chinas-cross-border-interbank-payments-system
