International financial system began to change
Beauty of the west to Russia unprecedented sanctions, exposed the world economic system excessive reliance on the dollar and the disadvantages of the U.S. financial system, has helped many countries to seek the diversification of foreign exchange reserves, the currency and payment system, accelerate the process of "dollarization", shaking the existing international financial system.
Russia has directly with "no friendly country" to the rouble and settlement, the reserve bank of India and Russia's central bank also set up "rupees a rouble" trade payment mechanism, Saudi Arabia and consultations with China, discuss some oil exports to China denominated in renminbi. All of these speed up the allied with the us dollar and the decoupling of the financial system in the us and Europe, is bound to weaken the dollar in the dominant position in the global oil market.
Effects of china-eu trade and cooperation all the way
Conflict between Russia and Ukraine on China's economy also has a certain degree of influence. The most direct losses, is China's investment projects in Ukraine. Also affect the china-eu trade and a leading the way. Fudan university professor ding chun said the conflict between Russia and Ukraine's impact on china-eu trade mainly along the black sea trade, medium and long term influence of geopolitical risk;
But the china-eu trade transportation is given priority to with shipping, air freight is complementary, railway transport of low, influence under control. This is a war between Russia and Ukraine impact on the world economy cannot be ignored.
SWIFT credibility severely questioned
SWIFT (bank global financial telecommunications association) is the world's most important cross-border payment and settlement of the communication system, for a long time to maintain neutrality. However, during the war between Russia and Ukraine, SWIFT has announced sanctions against Russia.
This makes its credibility suffers great question, indirect accelerated the SWIFT development of the payments and settlement system in the world, and form a pattern of small bilateral or multilateral payment settlement. At present, more than 20 countries built independent financial clearing system. Actually the CNPP planning, SWIFT has become American sanctions against other countries initiated the financial tools, including financial sanctions against Iran.
Post time: Sep-02-2022