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Following the sanctioning of Russia by exclusion from SWIFT, heated discussions emerged in China about accelerating the build-up of an alternative international payment system based on RMB. Actually, China has made significant progress in ramping up its Cross-border Interbank Payment System (CIPS) since 2015. However, the prospects of CIPS largely depend on the pace of China’s capital account opening and China’s investment attractiveness for foreign institutions in the long run.
Von
Russia's invasion of Ukraine has driven up food prices. Famine could soon loom in some regions of the world. China is also concerned about food supplies. Climate change is threatening harvests. And most recently, yields in the country have also been lower due to ozone pollution of crops.
Von Ning Wang
The sharp rise in Covid deaths in Hong Kong has one main reason: a low vaccination rate among the elderly. This does not bode well for Mainland China. Because its vulnerable age groups also have low immunity.
Von