The emergence of new regional payment systems likely won't spur de-dollarization, OMFIF said.
According to commentary published Thursday, obstacles are already afflicting new regional payment systems, even as de-dollarization rhetoric creeps up.
AdvertisementMeanwhile, efforts to assemble regional financial systems have delivered the Pan-African Payment and Settlement System, OMFIF cited as one example.
For instance, it's even launched its own payments infrastructure, the Cross-border Interbank Payment System.
But China's efforts to create an alternative system are a defensive ploy for now, OMFIF wrote in a separate note from May.
Persons:
OMFIF, —, Julian Jacobs, it's, That's, Zoe Liu
Organizations:
Service, Monetary, Financial, Forum, United Arab, China, Foreign Relations
Locations:
China , Hong Kong, United Arab Emirates, Thailand, Russia, Ukraine, Beijing, Taiwan