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Why would people trust CIPS with China in charge of it?
by edmcnulty101 5y ago
Why would people trust CIPS with China in charge of it?
- cudgy 5y agoWhy not? The world trusts China to make their products and corporations entrust China with their sensitive intellectual property to manufacture goods. Even Charlie Munger and Warren Buffet (two conservative investors) trust China enough to invest in China. Doesn’t seem like a big stretch to trust China for money transfers.
- jatone 5y agothey wouldn't point is use both then you are reliant on neither.
- FpUser 5y agoThe end result is multiple payment systems so that the countries can do whatever they do without single entity being able to shut the valve. And you do not have to trust any single one. Consider it free market competition.
- maccolgan 5y agoPeople don't need "trust", they need alternatives. SWIFT is currently in a monopolistic situation right now. Any abuse of that position will lead to eroding trust.