Email this article Russian-Chinese cooperation in international payments: De-dollarization architecture and payment security for foreign economic activity
- Authors: Zembatov M.R.1
-
Affiliations:
- National Research University Higher School of Economics
- Issue: Vol 21, No 6 (2025)
- Pages: 147-152
- Section: World Economy
- URL: https://journals.rcsi.science/2541-8025/article/view/381356
- DOI: https://doi.org/10.33693/2541-8025-2025-21-6-147-152
- EDN: https://elibrary.ru/NORZZJ
- ID: 381356
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Abstract
In the context of the transformation of the global financial architecture, the strategic partnership between Russia and China is focusing on creating alternative mechanisms for international settlements. This article analyzes the evolution of Russian-Chinese projects in this area, including the abandonment of the US dollar, the development of bilateral settlements in national currencies, the creation of alternatives to the SWIFT system, and an assessment of the potential of cryptoassets. Particular attention is paid to the practical aspects of payment security for foreign economic activity (FEA), taking into account the experience of using the jurisdictions of Hong Kong and Singapore. A conclusion is drawn regarding the development of a parallel, but not yet universal, financial infrastructure capable of mitigating the risks of sanctions pressure.
About the authors
Marat R. Zembatov
National Research University Higher School of Economics
Author for correspondence.
Email: mzembatov@gmail.com
ORCID iD: 0000-0002-0438-8044
SPIN-code: 9084-8848
ResearcherId: P-4562-2017
Cand. Sci. (Econ.), Head of the Center for Interdisciplinary Studies, Institute for Public Administration and Governance
Russian Federation, MoscowReferences
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