Why Western media are very quiet about this?

TLDR:
- This new system is going to bypass SWIFT
- Handling fee will drop by 98% compared to SWIFT
- <10 secs clearing speed vs. 3 to 5 days for SWIFT
- Transactions are TRACEABLE unlike cryptocurrency so cannot do money laundering
- 38% of world trade volume can be settled using this cross-border system, will potentially de-value US dollar!

Anwar kena DA GE game

remember 2 years back he propose Asian Monetary Fund to DA GE?

Now DA GE stole the idea he become house pulak

Bang upcar

KESIAN

i have this fantasy that ayam become PM11 and overhaul education from kindergarden to uni. Also, I force all type M kids to learn Mandarin.

20 Years later Malaysia become Asia superpower


#inhale weed

Lel
After 3rd month any countries tried bypass swift will auto 100% tariff

Kesian XRP, kena dump

LoL

PM paling cepat digulingkan speedrun

Data shows that the cross-border RMB settlement volume of ASEAN countries exceeded 5.8 trillion yuan in 2024, an increase of 120% over 2021. Six countries including Malaysia and Singapore have included RMB in their foreign exchange reserves, and Thailand has completed the first oil settlement with digital RMB. This wave of "de-dollarization" made the Bank for International Settlements exclaim: "China is defining the rules of the game in the era of digital currency."

CCP cannot trust

All in.. u dont later say cannot withdrawal. Will fuk 9 u 9 generations

It's not crypto for you to goreng la dei. Just to pay mani to pipu in other country oni.

After Russia fiasco with Swift, who dare 100% rely on that system?

people use crypto for a very specific reason

If buy from China, no issue with using RMB but not many takers will accept RMB for sellers outside China since USD is still the global currency unless you only trade with PRC companies.

but you still need to trade in USD right?

All in la.. dollar will lose it's value. Rmb go to the moon...

It's a good thing. Just hope it's not just hot air like BRICS

So what is the name of SWIFT competitor?

together with BRICS, these settlement systems will make guesswork of each country’s total dealings… it’s good because no one knows how much is traded..

How many times say liao, as long as china don't let their currency free float and have an I dependant central bank, thet eis no way for it to be the reserve currency.

Nobody wants to wake up one day and find out that xjp sohai simply ban people from taking out their money.

like how USA ban russia from SWIFT, and EU seize all russia money in their bank?

That fellow dont know that partly escalate the de dollarization is because many countries finally see how SWIFT can be weaponized. In the end, no system is safe these days. Only trust on the contemporary politics....

inbe4, you bukan economist.

But at least i watch how economists commented on it.

So what it means to me? All in gold , rmb , dollar ?

You mistaken payment system Vs reserve currency.

Swift is payment system. Government decide how to use that power. The currency is under central bank power. Government have no control.

You are arguing with a bunch of brainwashed wumaos who still believe that Brics will win. They don't have any understanding of global finance system and the simple reasons behind why the Yuan can never be the default market currency. You only wasting your time on a Friday to argue with them.

To clarify, you're saying government of USA have no control over financial sanctions on Russia, Iran, NK and Cuba ?

What does your explanation on reserve currency have to do with XJP have the power to ban people from using RMB?

I am genuinely curious and bare no hostility

Even with magic, wont last 1 week in power.

Just imagine swift is WhatsApp. If you kena ban from whatsapp you can still use telegram wechat. It's just not as popular as WhatsApp that everyone uses.

But switching a reserve currency requires trusting the country of the currency you're using. Because you are literally exchanging your assets into another country's assets.

Let me ask you would you want to keep a lot of Zimbabwe dollars? It's kinda the same thing.

At the moment xjp has iron control over everything china. He can literally ban you from taking out your china denominated currencies. As has happend to a few people in the past. So how to trust?

This post has been edited by Emily Ratajkowski: May 16 2025, 09:46 AM

kena game by CCP....never learn from covid.

You no need worry la. China have no intention of taking over reserve currency role. US can maintain that. China just want a payment system that's free from US control and sanction. That's all.

Reserve currency is an exorbitant privilege that will inevitably lead to higher debt and deindustrialization.

Elaborate a bit, China wants a multipolar world to avoid falling into same world sole superpower trap that is experienced by UK and US. USD can keep its reserve currency status, while China wanna keep its industrial production capacity.

This post has been edited by ZeaXG: May 16 2025, 10:15 AM

Ya ok so based on your explanation, the currency reserve country kennot any how nor have the authority to ban/freeze/seize other countries from using their currency for whatever reason.

Desmond put the example of US sanction/freeze/seize asset of other countries eg Iran, Afghan & more importantly Russia who got USD 300bil of russian central bank asset but you said his understanding was "mistaken". I just don't understand what he was mistaken here

This post has been edited by Viper236: May 16 2025, 10:18 AM

I think this is CIPS, for large transaction involving country to country normally they use CBDC

Eversince the huge volatile on USD, some of my friend's company already switching to paying RMB instead of paying USD towards China supplier, and the swift payment system is kinda slow and high charges. Now dealing with RMB it is less volatile and the company can control the purchasing cost and have better forecasting.

That's why they have offshore RMB outside China, offshore RMB cannot mix into onshore RMB, somehow people's bank of china did this to protect their currency, that's why US always boh song them manipulate the currency by depreciating and making it competitive in the market.

But they are slowly pushing up their status in reserve currency, start with saudi crude oil deal, China paid Saudi offshore RMB and Saudi keep RMB as reserve, Saudi can use that RMB to import things or trade with other country, certainly it is slowly but it is growing at a steady pace.

AFAIK XJP has iron control over in China, countries outside China is none of their business, they would rather maintain business as usual. I don't mind to hold RMB on hand because i know i'm going to spend it by buying China goods.

Found below articles...most probably Bharat sharing fake news

Fake news? China links CBDC payments to 10 ASEAN, 6 Middle eastern countries. April 11, 2025
by Ledger Insights

here’s a news report circulating that China announced it had linked its digital RMB cross border payment system to ten ASEAN countries and six Middle Eastern jurisdictions. We have not been able to trace this to a reliable source, so it may be fake news. However, the substance of the report is not a million miles from the facts. It’s likely jumping the gun by a few years.

China is a member of mBridge, a cross border payments joint venture using central bank digital currency (CBDC). The Chinese end of any payments uses its digital RMB CBDC, but mBridge does not belong to China. Other member countries include Hong Kong, Thailand, the UAE and Saudi Arabia. As of late last year there were a couple of dozen observers. If one counts the observers (which is a big leap) then it would have covered five ASEAN countries and six Middle Eastern ones.

Sos cili pedas

Misconception

Since almost every country are linked to China to certain transactions, China will not let this risk for long. It is not about dedollarize, more of supressing the risk transaction cannot be completed due to any reason whatsoever.

From chinese point of view, they dont care politics. Its all end up with money and business continuity

as long as china dont over print their RMB like what japanese did during WW2 it will be fine using RMB for transaction.
USD was used internationally because of its trust but recently it has been over printing and causing economy collapse thats why ppl start to have the idea of de-dollarizing

I didnt know you were Nurul Izzah Anwar dupe

CC Nurul Izzah fanclub committee members joek hotdayum eds2 xcm

RMB is not e-CNY

https://www.bis.org/publ/bppdf/bispap123_e.pdf

This post has been edited by ed1torz: May 16 2025, 01:12 PM

Ayam switched sides liao to Gobind

We should just outsource governing to Singapore.

Every year, we pay them 5% of our GDP as management fees macam hotel management.

The we can all focus on playing politic every day

bodo

ayam like big tete amoi, nur Izzah where got like big tete amoi?

use photoshop plox

Finally, someone points this out. Why do we want to get rid of the debtors? They're going in debt to consume what the rest of the world produces. It's a win-win. If anything, we want more of these people and more power to them so they can take on more debt.

This post has been edited by whyamiblack: May 16 2025, 02:06 PM

Sembang kacang

https://forum.lowyat.net/index.php?showtopi...ost&p=111454328


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My repost above fyi, and also, .......

https://coingeek.com/did-china-link-its-cbd...tern-countries/ - Did China link its CBDC to 10 ASEAN, 6 Middle Eastern countries?
25 April, 2025
.... China’s CBDC expansion reports draw scrutiny

Over the past week, a few reports, which all seem to have originated in China, claimed that the People’s Bank of China (PBoC) had announced new partners for its CBDC. The partnerships revolve around integrating the digital yuan into over a dozen countries in Southeast Asia and the Middle East.

The reports, many of which have been taken down, claimed that the integration includes 10 members of the Association of Southeast Asian Nations (ASEAN) and 6 Middle Eastern countries. However, none of the reports point to any official announcement by the PBoC or the corresponding central banks.

The specific countries were not mentioned. However, if the reports were true, Hong Kong, Thailand, the UAE and Saudi Arabia would presumably be the first to integrate the CBDC. These four states are members of mBridge, a cross-border initiative that seeks to ease funds transfer using CBDCs.

The Bank for International Settlements (BIS) was also a primary member of the project but pulled out last November. BIS cited the project’s maturity as its reason for exiting, but insiders revealed concerns about the subversion of mBridge into a BRICS system, potentially making the heavily-sanctioned Russia a primary member. ...

= Fake News or anti-USA propaganda from CCP China.?
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Didn't CCP China also just weaponized its export of critical minerals to USA, the EU and other countries.?

Do you support Russia and its allies North Korea, CCP China and Iran, the so-called New Axis Of Evil.?
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Please see my post above about the Digital Renminbi being issued and controlled by CCP China's Central Bank = the People's Bank Of China.
....... Does the SWIFT International Payment system issue and control the various currencies used to settle international trade payments.?
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LOL while Murica accuse PRC manipulating their currency to stay low, u pulak think PRC want their currency to appreciate?

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Fyi, .......

https://www.reuters.com/business/finance/eu...say-2025-05-02/ - europe-hand-billions-frozen-russian-cash to -western-investors, sources-say - 2025-05-02
BRUSSELS, May 2 (Reuters) - Euroclear plans to seize and redistribute about 3 billion euros ($3.4 billion) of Russia's funds that are frozen at the Belgian clearing firm after Moscow grabbed investor cash in Russia, according to documents seen by Reuters and people familiar with the matter.

The money will be used to compensate Western investors after Moscow seized cash held in Russia in recent months, three people said, escalating attempts by both sides to recoup billions in funds affected by the war in Ukraine. ...

The planned Belgian payout was triggered by Russian government orders to confiscate billions from Western investors last year. ....

Russian Central Bank and companies deposited money in EU banks = kena frozen and confiscated after the Ukraine-Russia War started.

European companies deposited money in Russian banks pun kena confiscated.

= "A fool and his money are soon parted."
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so, how long will i need to wait for Speedmart99 or any big supermaket to accept Digital RMB?

10 years? 20 years? 30 years? 50 years? 100 years?

The reason for confiscation is irrelevant because the original discussion is about if a reserve currency country can anyhow seize a country's asset if it doesn't align to it's foreign policy and how it affects the dollar trust and encourage other country to diversity it's reserve currency.

If one day my country suddenly not align with US policy like the NATO expansion for Russia, am I at risk of keeping US dollar? If Israel attacked Msia and we retaliate, US can anyhow freeze our US dollar reserves?

Digital Currency > All

Gobind issaman
No fun straight male

death to amerika

Really? you trying look for the good guy in their fights?

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In this trade war and Russia-Ukraine War, I look at USA and its allies (= the EU, UK, South Korea, Japan, etc) as less evil than CCP China and its allies (= North Korea, Iran, Russia, Cuba, Hamas, etc), ...
....similar to WW1 & 2 between the less evil British Empire and its allies (= French, Dutch, USA, etc) vs the German Empire and its allies (= Italy, Imperial Japan, Turkey, etc)

IOW, Allies Of Less Evil vs Axis Of Evil.
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Does your fantasy include you masuk jail eat curry rice

What did Russia, North Korea, Iran and China do until they deserve to be called Axis of Evil?

Which country is causing wars everywhere and they are the good guys?

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Didn't CCP China, Russia and Iran (= masterminds) support and fund the very evil Hamas, Houthi and Hezbollah terrorists.?
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RM1 = USD1 bila?

Hamas, Houtis and Hezbollah are terrorist but what about Israel?

Who is funding Israel?

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What about Israel.?
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You tell me since you can find so many articles

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You mentioned "what about Israel.?", not me lah.
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You live in a cave kah?

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No lah.
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