April 20, 2021

Digital Yuan Gives China a New Tool to Strike Back at Critics

Featuring Yaya J. Fanusie

Source: Bloomberg

Even as China grows in economic and military power, perhaps nothing reveals Beijing’s weaknesses more than the U.S.’s control of the global financial system.

China has recently sought ways to counteract U.S. sanctions after the Trump administration targeted Chinese officials and companies over policies from the South China Sea to Xinjiang. Hong Kong’s leader can’t access a bank account and a top executive at Huawei Technologies Co. is detained in Canada. Even China’s state-run banks are complying with U.S. sanctions.

Read the full story and more from Bloomberg.

Authors

  • Yaya J. Fanusie

    Adjunct Senior Fellow, Energy, Economics and Security Program

    Yaya J. Fanusie is an Adjunct Senior Fellow at the Center for a New American Security (CNAS). His research focuses on the national security implications of cryptocurrencies an...