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China has restricted cryptocurrency mining fearing a disruption in the national payment system at a time when the digital yuan is experimentally introduced into the national economy. In May–June 2021, China—allegedly to preserve financial stability—banned mining of bitcoin and other crypto assets in such major mining centers as Inner Mongolia, Sichuan, Xinjiang ...
... corporations to dominate global markets in the post-war period quickly. However, if we are to proceed from the development patterns of the international monetary and financial system, then it follows that the dollar will eventually be replaced by the yuan, the currency of the new global economic and financial leader (China). Will Beijing manage to build its own system of global institutions, one that is capable of internationalizing the yuan and competing against the U.S. currency when it comes to ...
Political or Economic Decision? In late November 2015, the International Monetary Fund (IMF) Executive Board decided to include the Chinese renminbi in the reserve currency basket. According to IMF Managing Director Christine Lagarde, this is a recognition of the progress that the Chinese authorities have made in recent years to reform the country’s monetary and financial systems. The decision comes into force on October 1, 2016. Up until now, the reserve currencies in the Special Drawing...
... and maintain economic growth rates. For a long time, China’s economic strategy was to a great degree focused on expanding trade, stimulating exports and accumulating international reserves thanks to high export revenues. The devaluation of the yuan raises two important questions: Firstly, will the exchange rate formation mechanism once again become one of the main tools for maintaining high rates of economic growth, and can we expect a return to the undervalued yuan and a new wave of “currency ...
| U.S. wants to establish partnership relations with Russia on condition that it meets the U.S. requirements |
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| U.S. wants to deter Russia’s military and political activity |
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| U.S. wants to dissolve Russia |
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| U.S. wants to establish alliance relations with Russia under the US conditions to rival China |
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