China Plans to Launch Own International Payment System by 2016

China will continue to loosen restrictions on private capital access to the financial sector, Prime Minister Li Keqiang said.

DALIAN (Sputnik) — China plans to launch its own international payment system later this year, the country’s prime minister, Li Keqiang, said on Thursday.

Russia’s National System of Payment Cards, American Express agree on Mir co-badged card

Free economic leverage to Moscow has just been given away. Sanctions will now be that much more ineffective with AMEX having over 100 million cards circulating globally.

 

MOSCOW, July 20. /TASS/. Russia’s National System of Payment Cards (NSPC) has struck an agreement with the international payment system American Express on issuing co-badged card Mir, NSPC said in a press release on Monday.

America’s SWIFT Road to Economic Destruction

China’s much anticipated international payment system is set to launch. It could be a big blow to the dollar—and America’s ability to police the world.

This year may go down as a turning point in United States economic history.

Reuters reports that three high-level Chinese officials have confirmed that China will launch its long-awaited international payment system in September or October. The system will allow foreign banks to conduct transactions in yuan instead of dollars and transfer funds across international borders without using America’s swift payment system.