buffnut453
Captain
Since a war is not only fought with weapons, here's an interesting news coming from the Shagai stock market. Chinese Payment Stocks Soar Amid SWIFT Curbs Against Russia
Stock tied to CIPS (China's own alternative to SWIFT) are soaring. So much, in fact that trading had to be suspended once some of them reached a +20% appreciation in one day.
'De-dollarization' of the world is the end game. Taking away the control of the financial markets from the US, UK and EU will make the 'west' irrelevant. This war is not about Ukraine.
And yet CIPS operates at a tiny fraction of the level of SWIFT. Democratic nations, which make up the vast majority of international trade, are not going to flip from SWIFT to CIPS. Yes, CIPS may get a larger share of the pie but I just don't see it getting a dominant slice.