A Bank China Built to Challenge the Dollar Now Needs the Dollar

A Bank China Built to Challenge the Dollar Now Needs the Dollar

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The New Development Bank set up shop in Shanghai with $10 billion in committed capital from the five founders. A development bank China launched with its fellow Brics countries was supposed to reshape international finance. Russia’s invasion of Ukraine now risks turning it into a zombie bank.

#newdevelopmentbank #shanghai #brics #ukraine

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