Financial calculations in foreign economic activity: why the old rules no longer work and what replaced them
The usual methods of international settlements in foreign economic activity no longer work. SWIFT and the dollar are no longer reliable instruments, and payments get stuck for weeks. What replaced them? We're looking into why simple solutions like replacing the dollar with the yuan or switching to crypto haven't become a panacea, and what the new, flexible cross-border payment system that businesses will have to live with looks like.
