I saw the news that China and the EU have now signed a currency swap deal, the latest in the big move by China to cut the USD out of their global commerce affairs. I keep reading one story after another about these deals so started searching for a list of which countries have entered into currency swap arrangements with China. I read that as of October 15 there were 24 currency swap arrangements but I could not find a consolidated list so here is my attempt.
Countries with currency swap deals with China:
- South Korea
- Taiwan (still in talking stage)
What are the rest of the 24? Some stories I read sounded like the deals were not fully implemented but still in the trial stages. So I’m not sure of the rest. Most of them are in the range of a few tens of billions of US dollar equivalent. Small change taken individually but a few billion here and there adds up after a while. And of course if things go well the swaps will grow in size as time goes on.