Mmastodon BusinessBanking first seen 2 d ago, last 2 d ago, peak #5

Washington urged to shore up dollar-settlement dominance

Original: Washington must do more to maintain dollar-settlement dominance China does not need to replace the dollar to normalize n

Commentators argue Washington must move quickly to keep its dominance over global dollar settlement, warning that China does not need to replace the dollar outright but can normalize non-dollar payment channels instead. The call is for a faster, cheaper and more interconnected dollar system before alternative settlement rails become entrenched, as discussions over de-dollarization and rival payment networks intensify.

Why now: Growing debate over de-dollarization and China building alternative payment rails is prompting warnings that the US must modernize dollar settlement.

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Evidence

• Washington must do more to maintain dollar-settlement dominance China does not need to replace the dollar to normalize non-dollar settlements. Washington must offer a faster, cheaper and more interconnected dollar system before China entrenches alternative rails. https://www.… · AlexJimenez@mas.to

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