We start today’s podcast discussing how nine central banks are about to launch a new messaging service and is indicative of another step in global de-dollarisation. We then discuss a surprising development in the crypto universe coming out of Hong Kong and then move onto the Shangri-La security forum and why the US and the Asia-Pacific have a very different perspective about that region's future security and who should be determining such policies. We then discuss further developments associated with the RCEP and conclude assessing why Chinese-German relations are at a crossroads.