Source: China – South China Morning PostA yuan-based payment system would be crucial to building the multipolar world China has been calling for, according to a Russian billionaire and close associate of President Vladimir Putin.
“A multipolar world will depend on how quickly China could develop a payment system, and it depends upon Chinese banks,” Oleg Deripaska, the founder of Russian aluminium giant Rusal, said in Beijing on Wednesday.
“Chinese banks are too dependent upon dollar assets, and they are scared to death to take any…Read More