Renminbi and the World

About this episode

More than $150 trillion moves across borders each year through the global financial system, the vast majority of it still denominated in dollars. As geopolitical tensions fragment trade relationships and middle powers look to diversify their financial exposure, alternative currencies are gaining quiet traction, such as the recent renewal of a 200-billion-yuan swap line between the Bank of Canada and the People's Bank of China. How might a growing willingness among these economies to transact in alternative currencies reshape the structure, stability and sovereignty of the international financial system? Speakers: Diana Choyleva, Founder and Chief Economist, Enodo Economics, Senior Fellow, Asia Society Policy Institute Robin Harding, Asia Editor, The Financial Times Zongyuan Zoe Liu, Senior Fellow, China Studies, Council on Foreign Relations Ashor Nick Sarupen, Deputy Minister of Finance, Ministry of Finance of South Africa Zhu Ning, Deputy Dean and Professor of Finance, Shanghai Advanced Institute of Finance This is the full audio from a session at the Annual Meeting of the New Champions 2026 in Dalian, China on 23-25 June, 2026. Watch it here:  https://www.weforum.org/meet