When sanctioning Chinese officials and companies involved in what Washington says are human rights abuses on a massive scale in Xinjiang, US lawmakers singled out Chen Quanguo (above), a member of the policymaking Politburo. Photo: AFP When sanctioning Chinese officials and companies involved in what Washington says are human rights abuses on a massive scale in Xinjiang, US lawmakers singled out Chen Quanguo (above), a member of the policymaking Politburo. Photo: AFP
When sanctioning Chinese officials and companies involved in what Washington says are human rights abuses on a massive scale in Xinjiang, US lawmakers singled out Chen Quanguo (above), a member of the policymaking Politburo. Photo: AFP

Explainer |
How the US uses the dollar payments system to impose sanctions on a global scale

  • The US dollar’s global dominance gives Washington a powerful tool that it uses to enforce sanctions on people, institutions and countries
  • The decoupling of the world’s two largest economies has raised concerns about the United States deploying the ‘nuclear option’ of freezing China’s banking sector out of the global US dollar payments system

Topic |   Currency war
When sanctioning Chinese officials and companies involved in what Washington says are human rights abuses on a massive scale in Xinjiang, US lawmakers singled out Chen Quanguo (above), a member of the policymaking Politburo. Photo: AFP When sanctioning Chinese officials and companies involved in what Washington says are human rights abuses on a massive scale in Xinjiang, US lawmakers singled out Chen Quanguo (above), a member of the policymaking Politburo. Photo: AFP
When sanctioning Chinese officials and companies involved in what Washington says are human rights abuses on a massive scale in Xinjiang, US lawmakers singled out Chen Quanguo (above), a member of the policymaking Politburo. Photo: AFP
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