The central bank of a key Asian economy has exited a financial initiative that formed part of China’s broader push to establish a global payment network less reliant on the U.S. dollar. The move signals shifting priorities in regional monetary cooperation, as Beijing continues to promote its digital currency and cross-border settlement schemes. Analysts suggest the withdrawal could reflect evolving economic strategies or concerns over integration with China’s financial infrastructure. The decision underscores ongoing tensions between dollar dominance and alternative systems in global trade.
Kingdom’s central bank withdrew from programme which is part of Beijing’s effort to develop an alternative system to the dollar
