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What the Chinese renminbi’s momentum means for US sanctions power

What the Chinese renminbi’s momentum means for US sanctions power

Written by Andrea Leonard Palazzi

In the end, the path to widespread use of the renminbi — at least to trade with China — is US sanctions themselves.

Faultlines9DLJuly 11, 20249DASHLINE, What the Chinese renminbi’s momentum means for US sanctions power, Andrea Leonard Palazzi, Second World War, Bretton Woods Conference, United States, dollar, USD, US dollar, global economy, World War II, GDP, finance, economics, trade, international currency, China, renminbi, yuan, US sanctions, sanctions, sanctions evasion, sanctions power, dollar-denominated, dollar-denominated transactions, banks, Clearing House Interbank Payment System (CHIPS), FedWire, US law, dollar network, SWIFT, Belgium, financial sanctions, SWIFT messaging system, cross-border, resiliency, resilience, economic statecraft, currency internationalisation, capital account liberalisation, renminbi swap lines, Cross-Border Interbank Payment System (CIPS), capital controls, primary international currency, balances and assets, export invoicing, Network effects, assets, liquidity, SWIFT-related sanctions, Western sanctions on Russia, Russia, Asia, hedging, hedging against sanctions, interest rates, de-dollarisation, Argentina, Pakistan, macroeconomic, distressed economies, trade facilitation, Venezuela, Brazil, bypass US sanctions, low cast, mBridge program, Global South, market factors, US-China conflict, interconnectedness