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US Sanctions Caused Crisis Of Trust - Former IMF VP

CHINA PRESS
MNI (BEIJING)

US sanctions against Russia have undermined the US dollar's integrity and caused a crisis of trust around the world, according to Zhu Min, former vice president of the International Monetary Fund. Recent events increased the need to diversify away from the dollar, with the yuan an alternative that benefits from a high level of trust, Zhu said on the sidelines at the Boao Forum. Citing the recent CNY loan cooperation agreement between Saudi Arabia and China, he said a lack of exchange-rate risk when using yuan to purchase Chinese goods made trade more convenient.

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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