Socio-Economics History Blog

Socio-Economics History Blog

EAEU and China Will Develop a Draft for an Independent International Financial & Monetary System Based On New International Currency by End March 2022

by mosesman

  • See also:
    –
    EAEU and China to draft independent monetary and financial system
    Russia plans to create independent international monetary and financial system with China through EAEU
    –
  • Google Translation of Russian Article: ЕАЭС и КНР разработают проект международной финсистемы
    –
  • EAEU and China Will Develop a Draft for a Independent International Financial & Monetary System Based On New International Currency
    by https://kapital.kz/, 14 March 2022
    It is supposed to be based on the new currency.
    This material was taken from the official website of the Eurasian Economic Commission. As of 23:51 NST, the news on eaeunion.org has  been deleted.
    –
    The Eurasian Economic Union (EAEU) and China will develop a project for an independent international monetary and financial system. This was agreed upon by the participants in the economic dialogue “New Stage of Monetary, Financial and Economic Cooperation between the Eurasian Economic Union and the People’s Republic of China. Global Transformations: Challenges and Solutions”, which was held via videoconference on March 11, the correspondent of the Kapital.kz business information center reports with reference to the EEC press service .
    –
    “Given the common challenges and risks associated with the global economic slowdown and restrictive measures against the EAEU states and China, our countries should intensify practical cooperation both at the level of regular expert dialogues and in the area of ​​joint measures and projects,” said the Minister for integration and macroeconomics of the EEC Sergey Glazyev.
    –
    Wang Wen, Dean of the RDCY Institute of Finance, emphasized the closeness of the positions of the EAEU countries and China on many issues of the global development agenda and expressed support for the intensification of the Eurasian-Chinese dialogue.
    –
    As a result of the discussion, it was decided to develop a project for an independent international monetary and financial system. It is assumed that it will be based on a new international currency, which will be calculated as an index of the national currencies of the participating countries and commodity prices. The first draft will be submitted for discussion by the end of March.
    –
    The dialogue participants also considered the practical aspects of cooperation between the EAEU and the PRC in the field of energy and information technology, commodity trading, as well as measures to adapt countries to external economic pressure.

end