http://mobile.reuters.com/article/idUSKBN0M50BV20150309?irpc=932
Lost in a world where a bank is a financial business entity making money on money is the simple fact that the institution was also nothing more than a clearing house for payments.
Good for China to restructure the clearing house protocols that have been manipulated to extract money from a simple a relatively cheap function through well protected complex and self serving processes. That however is a business model of the banking system.
This is a logical fundamental step for China to take toward domination of the world monetary system.
I wish China well in this endeavor.
https://www.sc.com/en/resources/global-en/pdf/Research/CIPS_game_changer_needs_careful_planning.pdf
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