@rocket_man_76: Reuters reported today that US dollar-RMB trading in Hong Kong averaged an enormous $274 BILLION per day in April, accounting for about 30% of the city’s entire foreign-exchange market. Meanwhile, China has just authorized Deutsche Bank to become an RMB clearing bank in Frankfurt. Those stories are separate, but together they point toward something much bigger: China has spent years building the financial infrastructure that makes its currency easier to move, trade and use internationally. But what does a “clearing bank” actually do? This video takes you inside the financial plumbing. We’ll follow a payment through clearing and settlement, explain why banks sometimes “net” payments against each other, and show where China’s CIPS system and Deutsche Bank actually fit. The RMB isn’t becoming global because of a headline. The interesting story is the infrastructure underneath it. #china #finance #rmb #banking #gigaqian

There are no more comments for this video.

To see more videos from user @rocket_man_76, please go to the Tikwm homepage.