Chinas Neighbors Are Eyeing Up Yuan as Banking Worries Spread

Recent U.S. banking turmoil is casting doubt on America’s ability to maintain its leadership of the global monetary system. Washington needs to take decisive steps to shore up confidence, including extending dollar credit lines to a clutch of Asian countries. Recent U.S. banking turmoil is casting doubt on America’s ability to maintain its leadership of the global monetary system. Washington needs to take decisive steps to shore up confidence, including extending dollar credit lines to a clutch of Asian countries. The collapse of Silicon Valley Bank after a sharp rise in interest rates over the past year slashed the value…