Yes. That's how Russia and China makes payments with one another despite sanctions. If sanctions ever occur it can be a good method of payment.
Russia is willing to accumulate Yuan via exports. China is willing to accumulate Russian goods and willing to supply Yuan.
For countries which have trade deficits with China, Eg India. India can buy from China the amount receives from China using Yuan but not any more than that.
So, if India exports to China ¥9B worth of goods it'll have ¥9B in its account which it can use to settle in Yuan using CIPS. CIPS will eliminate settlement of this in Dollars, since a significant portion of exports from India to China are paid for in Dollars by China, not Yuan. That can be eliminated.
But given India imports much more than it exports, it imports ~ ¥77B worth of Chinese goods and exports ~ ¥9B, India will have to take the Dollars, Euros etc it obtains from other countries, take it to forex markets (or PBOC) and get equivalent amount of Yuan credited in an Indian Commercial Bank's account in CIPS system. The ultimate settlement can be done in Yuan, but the conversion is there which relies on Western financial system.
All the transactions done under CIPS are hidden from West. But if India is sanctioned by the US/West, then it cannot accumulate Dollars, Euros and its trade deficit with China will collapse. India can then use CIPS to settle imports using Yuan whatever it earns from abroad (Eg through secret dollar, euro accounts, intermediate countries like UAE, commodities).
Obviously a common currency among BRICS would be disastrous, it'll be like the Eurozone but worse. The issue is it places a foreign currency above the country's own sovereign liabilities. In the current system, Indian Rupee, Chinese Yuan, Russian Ruble are at the top of the hierarchy within their respective countries, there have been times when foreign currencies have seen demand as a way to store savings but for actual consumption you need the domestic currencies. The currencies are also non-convertible (not in the capital control sense, but in the sense the Government doesn't promise anything), you can only purchase foreign currencies using indirect liquidity in the secondary market, the Central Bank/Government doesn't promise anything. If BRICS did a common currency, i.e. all the members replaced national currency with the BRICS one, the BRICS currency would become the top of the pyramid instead state's own money. Each member will be able to issue its own (sometimes widely accepted) liabilities as Greek banks were able to do but the member states can easily go insolvent if the BRICS Central Bank isn't willing to be the lender of last resort, BRICS Bank can also impose conditionalities on members before they get their loans (e.g. the Troika imposing austerity in Greece).
CIPS is fine and good, but it's a system for clearing payments. It doesn't show where the underlying money is coming from. For example, take India, India exported $1.21B and imported $10.9B from China. So, where did the $9.6B come from? It came from a. it's trade surpluses with other countries (U.S, E.U. mainly) b. Remittances by migrant workers abroad (Gulf and Western nations) c. Capital Inflows (FDI, FPI from Western countries mainly). So, India is able to have a trade deficit with China because of its surplus with other countries. if other countries weren't willing to run capital/current account deficits with India, it simply wouldn't be able to purchase Dollar/Yuan it wants to import from China. CIPS cannot change that since its merely a payment system, not an unconditional lender.
It is beneficial for net exporting countries to China, e.g. Russia, but most countries run a deficit with China, China on the whole is a net exporter and for every net exporter there must be net importer. For third world countries, obtaining Dollars is easy, you export your goods to the U.S. and get Dollars, same with the EU to a lesser extent. Obtaining Yuan is much more difficult, the way most countries do it is by giving Dollars to Chinese exporters or by using the Dollars to get Yuan in the forex markets.
China can solve this, it can grant an unconditional line which allows India to import $9.6B worth of Chinese goods without giving China (directly or indirectly) any first world currencies. Chinese exports will still happen but it will accumulate third world currencies instead of first world ones.
Tldr: CIPS is only a payment clearing/settlement system not a funding system.
You shouldn't compare GDP (a flow) to total value of all shares at market prices (a stock). You can compare NVIDIA Market cap to total market cap of all listed shares, which has increased from 0.5-2% around 2020-2022 to 7-8% at present. Its even worse if you exclude other tech corps.
Imo, a single state, with at least a 50% quota for Palestinians across all Government institutions, all expelled Palestinians have right to return, Aliyah is stopped and Jewish immigration only to those with close relatives who live in what is currently "Israel". For prosecution, I believe the focus should be on top level and those directly involved. For reparations, may be a lower wage floor for 'Israelis' compared to Palestinians. Palestinians may be given back their homes/land if provable claim is there and those occupying the homes will be given a home by the state. Those who can't prove claim will be given land and/or home. It's the job of the state to ensure the settlers don't start anything.
It's a pretty unique situation, Nazi Germany didn't achieve its settler colonial aims and modern settler colonial states like the U.S., Canada, Aus etc. wiped out the native population.
OnePlus 13 (or 15 which will release soon)? It's cheaper than $1000 but you can unlock boot loader and root if you want to. The battery is huge and you get flaship SOC unlike Pixels.
Yea especially considering mainstream economics is junk. So you can say bullshit like "unemployment is good actually", "regulations are bad", "welfare must be cut" as long as you have a econ degree?
Not good. If rest of the world doesn't want debt in your own currency, it's best not to bother with any foreign currency debt.
That said $842m is very serviceable for Indonesia, but still, no need, likely done for diplomatic optics. Given that Indonesia has a trade defict with China, and that there isn't much by the way of capital inflows from China, it doesn't naturally accumulate Yuan.
The servicing of this debt will be done by exports to the West and capital inflows from the West.
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