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.
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Author
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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) where his research focuses on crypto, blockchain, and central bank digital currenc...
