Will the Trump administration weaponize the US dollar to hurt China following Beijing’s plan to impose a new national security law in Hong Kong?
This new and troubling question is suddenly looming for Chinese officials.
While the probability remains very low, the risk of a financial war – including being cut off from the US dollar system – is no longer unthinkable for China.
President Donald Trump has not mentioned sanctions against Hong Kong or Chinese financial institutions amid worsening US-China relations.
But if Washington were to sever China’s corporate and financial system from the US dollar payments system, it could start a financial tsunami that would lead global finance into unch
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Jun 03, 2020