Asia emancipates itself from the IMF

The latest update of the Asian financial safety net, CMIM, is another step toward greater Asian financial independence – away from the US dollar and the US-dominated IMF. The CMIM, in which China, Japan, and South Korea play a central role, is being strengthened just as the new US administration under President Joe Biden seeks to revive its influence in Asia. This also plays into China's long-term plans for the yuan.

Last updated: 24. July 2025