China's De-Dollarization Push Meets Washington's Defense Of The Dollar [zero hedge]
CK HUTCH HLD LTD UNSP/ADR (CKHUY)
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Source: zero hedge
China's De-Dollarization Push Meets Washington's Defense Of The Dollar Authored by James Gorrie via The Epoch Times (emphasis ours), For decades, the U.S. dollar has been the foundation of the global financial system. It dominates trade settlement, anchors central-bank reserves, and underpins international financial networks such as SWIFT. That status has given Washington enormous economic and geopolitical leverage. But from Beijing’s perspective, that same system is a strategic vulnerability. Because the dollar sits at the center of global finance, the United States can use it to enforce sanctions, control financial flows, and shape geopolitical outcomes. China’s response has been a long-term strategy known as de-dollarization, which involves a sustained effort to reduce the world’s dependence on the U.S. currency through alternative trade mechanisms, financial institutions, and payment systems. At the same time, many of Washington’s recent economic and geopolitical actions—such as t
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