Putin, Xi, Modi Advance Anti-Dollar Pact With New SCO Bank

Leaders from China, Russia, and India are spearheading a financial infrastructure revolution at the Shanghai Cooperation Organization summit in Tianjin. The gathering, the largest in SCO history, includes over 20 world leaders—among them U.S. partners like Turkey and Egypt—signaling a shift away from dollar-dominated trade.

Xi Jinping's strategy capitalizes on fraying U.S. alliances, with the SCO bank initiative gaining traction as Trump-era tariffs push traditional American partners toward Beijing. India's participation under Modi marks a notable pivot following recent trade disputes with Washington.

The emerging financial mechanisms aim to bypass traditional dollar channels, accelerating a global trade realignment. 'You are no longer calling the shots,' China's message to Washington echoes through the summit halls, as reported by David Pierson.