Agenda for China-Central Asia Summit - Qin Gang Meets US Ambassador - Li Shangfu Meets Pak Army Chief - Diversification in Trade Settlement & De-Dollarisation
Here are the key reports and articles that I found noteworthy from the People’s Daily’s edition on Tuesday, May 9, 2023.
Page 1: The lead story on the page is about Xi Jinping meeting with representatives to the 10th Conference for Friendship of Overseas Chinese Associations. The report informs that this conference gathered nearly 500 leading members of overseas Chinese associations from more than 130 countries and regions.
Shi Taifeng, who heads the United Front Works Department, addressed the meeting. Xinhua English has the full report too:
Shi “noted that overseas Chinese possess the unique advantage of linking China and the international community, and serve as an important bridge and bond between China and the rest of the world, as well as a vital force in building a community with a shared future for humanity. He expressed the hope that overseas Chinese could join hands and forge ahead to put into practice the concept of building a community with a shared future for humanity, actively promote world peace and friendship between China and other countries, global development and win-win cooperation, exchange between China and other countries, and mutual learning between civilizations, so as to write a new chapter on the new journey for the great rejuvenation of the Chinese nation and building a community with a shared future for humanity.”
At the top of the page is a brief announcement about the upcoming China-Central Asia Summit. This will be held in Xi’an, Shaanxi Province, on May 18 and 19. MoFA’s Wang Wenbin made this announcement yesterday, saying that “during the summit, President Xi will deliver an important speech, and the heads of state will review the development of China-Central Asia relations and exchange views on China-Central Asia mechanism building, cooperation in various fields and major international and regional issues of common interest…The heads of state will also sign important political documents, Wang added. ‘With the joint efforts of all parties, we believe this summit will draw a new blueprint for China-Central Asia relations and open up a new era of cooperation,’ Wang said.”
On Page 2, there’s a commentary on the upcoming summit. It says that this is the first major diplomatic event this year domestically. The article says that “today, China and the five Central Asian countries have achieved full coverage of comprehensive strategic partnerships and signed cooperation documents on the joint construction of the Belt and Road. Strategic mutual trust between them has reached a new level, mutually beneficial cooperation has added new impetus, friendly exchanges have entered a new stage, and China-Central Asia relations and regional development have shown unprecedented vitality.” 如今，中国同中亚五国实现了全面战略伙伴关系全覆盖、签署共建“一带一路”合作文件全覆盖。双方战略互信迈上新台阶，互利合作增添新动力，友好往来进入新阶段，中国中亚关系和地区发展呈现出前所未有的勃勃生机.
“Mutual respect, good-neighbourliness, solidarity and mutual benefit are the key to the success of China's cooperation with the five Central Asian states. They are also the political guarantee for the steady and long-term growth of China's relations with Central Asian states and the source of strength for building on past achievements and opening up new prospects for China's friendly exchanges with them. China and the five Central Asian countries respect each other's development paths chosen according to their national conditions, firmly support each other on issues involving each other's core interests, actively practise the new security concept of common, comprehensive, cooperative and sustainable, jointly crack down on the ‘three evil forces’ and transnational organised crime and drug trafficking, and resolutely oppose external interference and instigation of the ‘colour revolutions’. China and the five Central Asian countries hold the same or similar positions on major international and regional issues. We have maintained close coordination under multilateral mechanisms and frameworks such as the United Nations and the Shanghai Cooperation Organization, practised genuine multilateralism, and contributed to the reform of the global governance system and the building of a community with a shared future for mankind.” 相互尊重、睦邻友好、同舟共济、互利共赢是中国同中亚五国合作的成功密码，也是中国同中亚国家关系行稳致远的政治保障和中国同中亚国家友好交往继往开来的力量源泉。中国和中亚五国尊重彼此根据本国国情选择的发展道路，在涉及彼此核心利益问题上相互坚定支持，积极践行共同、综合、合作、可持续的新安全观，联手打击“三股势力”和跨国有组织犯罪、贩毒，坚决反对外部干涉和策动“颜色革命”。中国和中亚五国在重大国际和地区问题上立场相同或相近，在联合国、上海合作组织等多边机制框架下保持密切协作，践行真正的多边主义，为推动全球治理体系改革、构建人类命运共同体作出贡献。
“Central Asian countries are active responders and staunch supporters of China's major initiatives, such as the GDI, GSI and GCI. Faced with a complex and volatile international situation, China and the five Central Asian countries have always cultivated demonstration fields of good neighbourliness and friendship, built high-quality development cooperation belts, strengthened protective shields for peace, built a pluralistic and interactive family, and maintained a global village of peace and development.” 对于中方提出的全球发展倡议、全球安全倡议、全球文明倡议等重大倡议，中亚国家是积极的响应者、坚定的支持者。面对复杂多变的国际风云，中国和中亚五国始终深耕睦邻友好的示范田，建设高质量发展的合作带，强化守卫和平的防护盾，构建多元互动的大家庭，维护和平发展的地球村.
The next paragraph says that across Central Asia, BRI has led to the initial establishment of a “comprehensive and multi-dimensional connectivity network covering roads, railways, aviation and oil and gas pipelines, which has not only helped Central Asian countries upgrade their industries, interconnections and improve people’s livelihoods, but also laid a solid foundation for maintaining the smooth flow of Eurasian industrial and supply chains.” 中国与中亚初步形成了覆盖公路、铁路、航空、油气管道的全方位、立体化联通网络，既助力中亚各国产业升级、互联互通和民生改善，也为维护亚欧产业链供应链通道畅通奠定坚实基础.
The next paragraph informs that under the China-Central Asia mechanism, Beijing wants “China to take transportation, economy and trade, investment and industry, agriculture, energy, customs and humanities as seven priority areas of cooperation, and gradually establish special docking and cooperation mechanisms in these areas to create an all-round, three-dimensional and multi-dimensional sub-regional cooperation pattern.” 为推动合作走深走实，中方提出将交通、经贸、投资与产业、农业、能源、海关、人文作为七大优先合作领域，逐步建立这些领域的专门对接与合作机制，打造全方位、立体式、多维度的次区域合作格局.
Another announcement on the page informs that PBSC member and NPCSC chairperson Zhao Leji will be visiting Morocco, Senegal and Malaysia from May 11 to 20.
Next, there’s a report on how the political and legal organs have been implementing the Xi Jinping thought learning campaign. I’ll do a brief wrap of this. The report says that the campaign has guided political and legal affairs officials to “further comprehend the decisive significance of the ‘two establishments”, strengthen the ‘four consciousnesses’ and ‘four self-confidence’, achieve the ‘two maintenances’, and forge a loyal, clean and responsible political and legal force in the new era.”
The article emphasises the importance of using “Xi Jinping Thought on socialism with Chinese characteristics for a new era to cast souls and build a solid ideological foundation of absolute loyalty, absolute purity, and absolute reliability.” 锻造政法铁军，根本是要用习近平新时代中国特色社会主义思想凝心铸魂，筑牢绝对忠诚、绝对纯洁、绝对可靠的思想根基.
The piece informs that the Central Political and Legal Affairs Commission has been overseeing the learning campaign across all units. It also held a special seminar in partnership with the Central Organization Department, the Central Party School.
The Supreme People’s Court’s focus in terms of the learning campaign has been on “problem orientation, practical effects, and leadership responsibilities.” This has meant guiding all officers to “learn and implement Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era and Xi Jinping Thought on the Rule of Law,” and “combining investigation and research with daily judicial work and issues of concern to the people.” 最高人民法院在主题教育中突出问题导向、实干效果、领导责任。加强理论学习，教育引导全体干警学深悟透做实习近平新时代中国特色社会主义思想、习近平法治思想，切实运用蕴含其中的立场观点方法指导实践、解决问题、推动工作。制定印发大兴调查研究实施方案，坚持将调查研究与日常司法审判工作、人民群众关心关切的问题结合起来，务求实效，坚决杜绝“一阵风”“两张皮”“走形式”。检视整改坚持刀刃向内，坚持边学边查边改，对调研发现的问题、群众反映强烈的问题，列出清单，逐项整改.
The Supreme People's Procuratorate has had all departments organise learning plans, giving “at least half a day of concentrated study every week.” This includes cadres reading original works, learning from original texts, and understanding principles.” This is being done through holding special classes, joint study sessions, exchange seminars, lectures, youth forums, etc. 机关各部门制定学习计划，压实学习责任，每周至少安排半天集中学习，组织党员干部读原著、学原文、悟原理。创新方式方法，通过开展主题党日、专题党课、主题联学、交流研讨以及举办大检察官讲堂、青年学习讲坛、检察官阅读征文等活动，推动学习往深里走、往实里走、往心里走.
Likewise, there are activities listed with regard to the Ministry of Public Security, Ministry of State Security and Ministry of Justice.
Page 2: Let’s first look at the meeting between Foreign Minister Qin Gang and US Ambassador to China Nicholas Burns. The Chinese readout (Xinhua English report) said:
“Qin Gang said that Sino-US relations are of great significance not only to China and the United States, but also to the world. In November last year, President Xi Jinping and President Biden successfully met in Bali and reached an important consensus. However, a series of erroneous words and deeds by the U.S. side since then has undermined the hard-won positive momentum of China-U.S. relations, disrupted the planned dialogue and cooperation agenda, and chilled bilateral relations again. The top priority is to stabilize China-U.S. relations, avoid a downward spiral and prevent accidents from occurring between China and the United States. This should be the basic consensus between the two countries and is also the bottom line that must be upheld when dealing with state-to-state relations, especially ties between two major countries. China will adhere to the principles of mutual respect, peaceful coexistence, and win-win cooperation proposed by President Xi Jinping in handling Sino-US relations. It is hoped that the US side will reflect deeply, meet China halfway, and push China-US. relations out of the predicament and back on track.” 秦刚说，中美关系不仅对中美两国、对世界都有重大意义。去年11月，习近平主席同拜登总统在巴厘岛成功会晤并达成重要共识。但此后美方一系列错误言行破坏了中美关系来之不易的积极势头，双方商定的对话与合作议程受到干扰，两国关系再遇寒冰。当务之急是稳定中美关系、避免螺旋式下滑，防止中美之间出现意外，这应该是中美之间最基本的共识，也是国与国、特别是两个大国相处必须要守住的底线。中方将坚持按照习近平主席提出的相互尊重、和平共处、合作共赢的原则处理中美关系。希望美方深刻反思，同中方相向而行，推动中美关系走出困境，重回正轨。
“Qin Gang said that the United States should correct its understanding of China, return to rationality, fasten the first button of Sino-US relations, and achieve mutual success in the better development of the two countries. It is not possible to talk about communication on the one hand, while continuing to suppress and contain China on the other hand. You cannot say one thing and do another. The US must respect China's bottom line and red line, and stop undermining China’s sovereignty, security, and development interests. In particular, it is necessary to correctly handle the Taiwan issue, refrain from hollowing out the one-China principle, and stop supporting or conniving with the ‘Taiwan independence’ separatist forces. It is necessary to persist in handling accidental incidents in bilateral ties in a calm, professional and pragmatic manner to avoid further shocks to China-US relations. We should promote dialogue and cooperation on the basis of mutual respect and reciprocity. Harmony while being different and harmonious coexistence is the China-US relationship and the world should work for…”秦刚表示，美方应端正对华认知，回归理性，扣好中美关系的第一粒纽扣，在两国各自更好发展中彼此成就。不能一方面讲沟通，一方面却不断对中国打压遏制。不能说一套做一套。必须尊重中方的底线红线，停止损害中国的主权、安全、发展利益，尤其要正确处理台湾问题，停止继续掏空一个中国原则，停止支持纵容“台独”分裂势力。要坚持以冷静、专业、务实态度处理两国关系中的意外偶发事件，避免中美关系再受冲击。要在相互尊重、对等互惠基础上，推进对话合作。和而不同、和谐共生，各美其美、美美与共，这才是我们应该为之共同努力的中美关系和世界。希望伯恩斯大使在中国多接触、多交流、多思考，作中美间的纽带桥梁，作出建设性努力.
Comment: Interesting and important conversation. Qin Gang did make the key point about China’s red line on Taiwan and what it views as US containment. Among the many challenges facing China-US ties, this is the most tricky one. That said, I thought the line about “avoid(ing) a downward spiral and prevent(ing) accidents from occurring between China and the United States” being the “bottom line” is worth noting. To me, it indicates Beijing’s willingness to finally engage with the Biden administration, and is an oblique acknowledgement of the guardrails argument that the US has been making. What shape this takes in terms of tangible actions we’ll have to watch. I also thought that Qin’s comment about “handling accidental incidents in bilateral ties in a calm, professional and pragmatic manner” was him chiding the US on the balloon incident.
A few other reports to note. First, China’s Defense Minister Li Shangfu met with Admiral Muhammad Amjad Khan Niazi, chief of the naval staff of the Pakistan Navy, in Beijing on Monday. Xinhua says: “Li said the relations between the militaries of the two countries are an important part of China-Pakistan relations, and cooperation between the two sides in various fields, including the two navies, has achieved good results. Li said the militaries of the two countries should expand new exchange areas, create new cooperation highlights, and work together to safeguard the security interests of both countries and the region. Admiral Muhammad Amjad Khan Niazi said the Pakistani Navy is willing to establish a closer cooperation mechanism with the Chinese Navy, further deepen pragmatic exchanges and cooperation, and jointly safeguard regional security and stability.”
Just to add some context to this: China has been working to expand Pakistan’s navy, providing it with four Type 054A/P frigates. These are “multi-role frigates…equipped with state-of-the-art weapons and sensors that includes CM-302 SSM and LY-80 SAMs as well as Advanced Anti-Submarine Warfare suite and Combat Management System.” Two ships were delivered in 2021 and 2022; two more are expected to be delivered this year. In addition, the two sides have been increasingly conducting joint drills. For more context, here’s an interview with Pakistan’s navy chief with Global Times from January this year.
Next, there’s a report on Wang Yi’s phone conversation with Tim Barrow, Britain's national security adviser. Xinhua reports:
“Stressing that China attaches great importance to its relationship with Britain, Wang said that China has taken note of recent remarks from the British side, which expressed willingness to maintain open, constructive, and stable relations with China, and rejected the idea of a ‘new Cold War’ or isolating China. These remarks showed that the British side is willing to objectively view China's development, he said. Wang said he hopes that China and Britain can meet each other halfway, maintain the momentum of bilateral exchanges, wipe out distractions, focus on cooperation, and properly handle differences.”
“China is the only major country among the permanent members of the United Nations Security Council (UNSC) that has not achieved complete reunification, Wang noted. It is both a historical fact and a global consensus that Taiwan is part of China, he said, adding that achieving peaceful reunification is a long-cherished wish of both the 1.4 billion Chinese people and all the Chinese descendants across the world. It is hoped that the British side will continue to abide by the one-China principle, respect China's sovereignty and territorial integrity, adhere to the principle of non-interference in each other's internal affairs, and respect each other's core interests and major concerns, he said.”
“For his part, Barrow said that both Britain and China are permanent members of the UNSC and major countries with global influence. The British side continues to pursue the one-China policy and is willing to work with China to maintain communication and exchanges, deepen cooperation, promote the establishment of a stable, healthy and mature bilateral relationship, and jointly address global challenges, he said. The two sides also exchanged views on the Ukraine crisis. Wang reiterated China's stance of facilitating talks for peace and hoped that all parties would avoid actions that could further escalate the situation.”
Finally, there are a couple of brief reports. First, ILD chief Li Jianchao met with a delegation led by Mohammad Bagher Zolghadr, secretary of the Expediency Discernment Council of Iran, in Beijing on Monday. Second, MoFA announced that Qin Gang will be visiting Germany, France and Norway from May 8 to 12. Interesting timing for this trip, as SCMP reports that:
“The European Union is weighing sanctions on Chinese companies accused of providing help to Russia’s military in its invasion of Ukraine, diplomatic sources have confirmed. Ambassadors from the bloc’s 27 member states will hold initial discussions on Wednesday on a fresh package of sanctions proposed by the European Commission. Among proposed targets are eight private entities from China, six of which have headquarters in Hong Kong, in what would mark the first time the EU moved to sanction Chinese companies for abetting Russia’s military effort in Ukraine.”
Page 3: There’s a piece on supporting the development of small and medium enterprises. This begins by telling us that “more than 60 percent of the little giant enterprises are deeply engaged in basic industrial fields, and more than 400 of them have become ‘supporting experts’ in aviation, aerospace and other fields.”
It informs that China has 8,997 specialised and innovative little giant enterprises and more than 60,000 specialised and innovative small and medium-sized enterprises. The goal by the end of 2023 is to expand these to 10,000 and 80,000, respectively. The article informs that these enterprises are “an important force to maintain the security and stability of the industrial chain and supply chain.”
Another report discusses the response of Chinese health officials to the WHO declaring an end to the COVID-19 emergency. CGTN has the report:
“China will continue to manage COVID-19 with measures against Class-B infectious diseases after the World Health Organization (WHO) announced that the COVID-19 pandemic no longer constitutes a Public Health Emergency of International Concern, Mi Feng, the spokesperson for the National Health Commission (NHC), said at a press conference on Monday…Mi added that the virus still continues to mutate and sporadic and localized infections still exist in China, so all localities and departments should continue to manage COVID-19 with measures against Class-B infectious diseases to ensure people's health and facilitate their work and lives.”
Page 9: On the theory page, the lead article is by the Xi Jinping thought research centre at the NDU. I am not doing a detailed breakdown because there’s little new in terms of arguments presented. The core argument is that in-depth study of Xi’s thought is an inevitable requirement for unifying the Party in ideology, purpose and action, and maintaining its strong cohesion and combat effectiveness; an inevitable requirement for the development of the Party and country’s cause; and an inevitable requirement for the strict governance of the Party and its self-revolution.
Page 11: There’s a brief report on the return of China’s reusable experimental spacecraft after spending 276 days in orbit. Global Times has a report on this. It says:
“Chinese authorities have disclosed few details about the craft’s technology. So far, no images of the spacecraft or footage of its launch or landing have been disclosed. Many space lovers compared it to the US Air Force's X-37B, an autonomous Boeing space plane that can remain in orbit for long periods before returning to Earth on its own, saying that the technology used in the experiment is ‘too advanced to show’ on social media. The reusable spacecraft’s technology has evidently matured, considering how much longer it can stay in orbit, Chinese space watchers noted on Sunday. Song Zhongping, a space expert and TV commentator, told the Global Times on Monday that the reusability of such spacecraft would drastically reduce costs. More importantly, the longer orbiting time means that the spacecraft can perform more complicated missions such as changing trajectory in near-Earth orbit and sending various payloads into orbit.”
Page 17: There’s an article by Wang Chaoyang from the Chinese Academy of Social Sciences. Wang argues that the international monetary system is accelerating the trend of “exploration of diversification”. He cites examples of India and Malaysia agreeing to a mechanism to settle bilateral trade in the Indian Rupee and China and Brazil agreeing to use RMB to settle bilateral trade. He says that ASEAN countries are also discussing how to switch to local currency for settlement.
He writes:
“Previously, many countries or regions have tried to bypass the US dollar-dominated SWIFT system in the field of cross-border payments. For example, the Instrument in Support of Trade Exchanges (INSTEX) led by Germany, France and the United Kingdom, the System for Transfer of Financial Messages (SPFS) established by Russia, and the RMB Cross-Border Interbank Payment System (CIPS) established by China. With the increasing importance of emerging markets and developing economies in the world economy, the trend of diversification of the international monetary system has become increasingly clear. After World War II, the Bretton Woods system laid the foundation for the US. dollar as the dominant international currency, but it faced the Triffin Dilemma from the very beginning.Since the 1970s, the US dollar has been decoupled from gold and pegged to oil, which has ensured its dominant role in international trade pricing and payment settlement, and extended to become the dominant currency for international investment and international reserves. However, its inherent contradictions have not been resolved. As the world's largest debtor country, the scale of US debt has accelerated in recent years, and the credit foundation of the dollar has been constantly shaken.” 此前，不少国家或地区在跨境支付领域已尝试绕过美元主导的环球银行间金融通信协会（SWIFT）系统。比如德国、法国和英国主导推出的“贸易交换支持工具”（INSTEX）、俄罗斯建立的金融信息传输系统（SPFS）、中国的人民币跨境支付系统（CIPS）等。随着新兴市场和发展中经济体在世界经济中的重要性不断上升，国际货币体系多元化趋势也日益明晰。二战后，布雷顿森林体系奠定了美元作为主导性国际货币的基础，但从一开始就面临着“特里芬难题”，即美元信用与国际清偿能力的矛盾。上世纪70年代起，美元与黄金脱钩并挂钩石油，保障了其在国际贸易计价和支付结算中的主导地位，并延伸成为国际投资和国际储备的主导货币，但其内在矛盾并未解决。作为全球最大债务国，美国债务规模近年来加速增长，美元信用根基不断遭到动摇。
Since the international financial crisis in 2008, the US has launched several rounds of quantitative easing, and after the COVID-19 outbreak, it implemented the ‘unlimited’ quantitative easing policy. This has led to a difficult balance between preventing inflation, recession and financial risks in the US, and other countries' concerns about the stability of the US dollar have further intensified. In addition, the US uses the dollar as a weapon, comprehensively utilising its political, military, economic, scientific and cultural hegemony, creating a ‘dollar tide’ (美元潮汐 comparing flow of currency to tidal flows) to seize the wealth of other countries, and restricts the development rights of other countries through financial sanctions. This has further strengthened the determination of many countries to explore other currency payment methods.” 2008年国际金融危机以来，美国先后推出数轮量化宽松政策，新冠疫情发生后又实行“无上限”量化宽松政策。这导致当前美国在防通胀、防衰退和防金融风险之间艰难平衡，各国对美元稳定性的担忧进一步加剧。加之美国将美元作为武器，综合运用政治、军事、经济、科技与文化霸权，制造“美元潮汐”攫取他国财富，通过金融制裁限制他国发展权，更强化了多国探索其他货币支付方式的决心.
Wang next adds that the global economic structure is changing. “According to IMF statistics, from 2001 to 2021, the share of emerging markets and developing economies in the world economy rose from 21.15% to 40.92%, while the share of developed economies in the world economy fell from 78.85% to 59.08%. Emerging markets and developing economies have become important forces in the global economic system, and there is a more urgent need felt to formulate economic policies independently. Compared with the US dollar, the exchange rate risk of local currency settlement is lower. In addition, local currency financing is a more stable source of financing, and the coordination with domestic fiscal policies and industrial policies is more convenient and effective.” 根据国际货币基金组织统计，2001年至2021年，新兴市场和发展中经济体占世界经济总量的比重从21.15%上升到40.92%，发达经济体占世界经济总量的比重则由78.85%下降至59.08%。新兴市场和发展中经济体成为全球经济体系中的重要力量，自主制定经济政策的要求更加迫切。相对于美元，本币结算的汇率风险更低，本币融资是更为稳定的融资来源，与国内财政政策、产业政策的配合更加便利有效.
“Influenced by the acceleration of the new round of scientific and technological revolution, the rise of trade protectionism, the reorganisation of international economic and trade rules, and the push by developed countries to promote the relocation of manufacturing, the global industrial chain and supply chain are undergoing changes in the direction of diversification and digitalization; at the same time they are also undergoing regionalization and localization to a certain extent. Importers and exporters at different points of the value chain have different demands for currencies, and some countries that maintain a relatively advantageous position in the regional industrial chain supply chain also have more room for currency use.” 受新一轮科技革命加速、贸易保护主义抬头、国际经贸规则重构、发达国家推动制造业回迁等因素影响，当前全球产业链供应链朝着多元化、数字化等方向变革，同时也呈现一定范围的区域化、本土化。处于价值链不同环节的进出口交易商对币种需求存在差异，一些在区域产业链供应链保持相对优势位置的国家，其货币使用也有了更大空间.
“International currencies have three functions – it acts as a measure of value, medium of payment and means of storage…The emergence of the US dollar as the world's dominant currency began after World War II with the Marshall Plan in Western Europe and the Dodge Plan in Japan, which strategically expanded the currency’s circulation through trade settlement. Today, the diversification of the international monetary system is beginning with payment and settlement. Historical experience shows that the reform of the international monetary system is a long process. At present, the United States is still the largest economy in the world, and the US dollar still maintains its dominant position in foreign exchange reserves, foreign exchange transactions, international payments and other fields. In order to maintain the hegemony and traditional advantages of the dollar, the United States may take various measures to slow down ‘de-dollarization’ or even promote ‘re-dollarization’ with a strong dollar strategy. But as the Financial Times’ Gillian Tett wrote recently, a multipolar currency world may come sooner than expected.” 国际货币拥有价值尺度、支付媒介和储藏手段三大职能，作为支付媒介是国际货币的重要职能之一。美元成为国际主导货币，起源于二战后在西欧和日本分别推出“马歇尔计划”和“道奇计划”，通过贸易结算策略性地扩大美元的流通域。如今，国际货币体系多元化探索首先也从支付结算领域开始。历史经验表明，国际货币体系变革是一个长期过程。当前，美国仍是世界第一大经济体，美元在外汇储备、外汇交易、国际支付等领域依然保持优势地位。为维护美元霸权和传统优势，美国或将采取多种手段，以强势美元策略缓滞“去美元化”甚至推动“再美元化”。但是正如英国《金融时报》专栏作者吉利安·泰特日前撰文所言，一个多极的货币世界，或许比想象中更快到来.
Next, there’s a report on the commemoration of the 1999 bombing of the Chinese embassy in Belgrade.