China renews focus on financial self-reliance
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China renews focus on financial self-reliance

BUSINESS STANDARD

If the West cripples Russia, China could be next.” This is a stark warning from a Chinese commentator. There is shock over the freezing, at a stroke, of nearly $300 billion of Russia’s $630 billion of foreign exchange reserves and the cutting off of most Russian banks, including its Central Bank, from the SWIFT inter-bank messaging service through which most international banking transactions are routed.

Read the full article by Shyam Saran on The Business Standard here (paywall).

 

Image: iStock

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