Overuse of financial sanctions risks dollar's role
Sanctions on Russia have sparked conversation about the decline of the dollar but the real threat to the global currency system is potential US sanctions on China.
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Sanctions on Russia have sparked conversation about the decline of the dollar but the real threat to the global currency system is potential US sanctions on China.
By Barry Eichengreen and Ruurd Brouwer
US and G7 sanctions on China in the event of a Taiwan Crisis would focus on the financial sector, individuals, and industry
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Rivalry with China, fallout from Russia’s war in Ukraine and wrangling once again in Washington over the US debt ceiling have put the dollar’s status as the world’s dominant currency under fresh scrutiny.