A video conference took place March 11, with participants from the Eurasian Economic Union (EAEU) and China, on a project for an independent international monetary and financial system, involving a new currency and other features. This was agreed upon by the participants in the economic dialogue “New Stage of Monetary, Financial and Economic Cooperation between the Eurasian Economic Union and the People’s Republic of China. Global Transformations: Challenges and Solutions.” This is reported by the correspondent of the Kapital.kz business information center, with reference to the EAEU press service. “Given the common challenges and risks associated with the global economic slowdown and restrictive measures against the EAEU states and China, our countries should intensify practical cooperation both at the level of regular expert dialogues and in the area of joint measures and projects,” said the Minister for Integration and Macroeconomics of the EAEU Sergei Glazyev.
Wang Wen, Dean of the RDCY Institute of Finance, emphasized the closeness of the positions of the EAEU countries and China on many issues of the global development agenda and expressed support for the intensification of the Eurasian-Chinese dialogue. As a result of the discussion, it was decided to proceed with the project for an independent international monetary and financial system. It is assumed that it will be based on a new international currency, which will be calculated as an index of the national currencies of the participating countries and commodity prices. The first draft will be submitted for discussion by the end of March. The dialogue participants also considered the practical aspects of cooperation between the EAEU and the PRC in the field of energy and information technology, commodity trading, as well as measures to adapt countries to external economic pressure.
