SCO Bank Challenges Dollar Dominance, Reshapes Global Finance

New World Order against Tariffs: SCO Development Bank as an anti-sanctions tool?

The Shanghai Cooperation Organisation (SCO’s) 2025 summit in Tianjin produced a series of outcomes that, although modest in appearance, are strategically significant. The most prominent developments were the agreement in principle to establish an SCO Development Bank, seeded with approximately ¥2 billion in grants and a further ¥10–14 billion in concessional loans from China. The summit also saw Beijing extend access to its BeiDou satellite navi…

SCO Bank Challenges Dollar Dominance, Reshapes Global Finance

The Shanghai Cooperation Organisation (SCO) Development Bank, launched at the recent summit in Tianjin, marks a significant shift in the global financial landscape, with profound implications for both Chinese and Western economies. This new multilateral development bank is poised to challenge the dominance of the US dollar and the Western-dominated financial system… Source