Chinese researchers and former officials have long been urging Beijing to make preparations for the worst-case scenario if tensions spiral out of control and the US imposes economic and financial sanctions to isolate Chinese banks and companies from the US dollar-dominated international markets. Photo: Shutterstock  Chinese researchers and former officials have long been urging Beijing to make preparations for the worst-case scenario if tensions spiral out of control and the US imposes economic and financial sanctions to isolate Chinese banks and companies from the US dollar-dominated international markets. Photo: Shutterstock
Chinese researchers and former officials have long been urging Beijing to make preparations for the worst-case scenario if tensions spiral out of control and the US imposes economic and financial sanctions to isolate Chinese banks and companies from the US dollar-dominated international markets. Photo: Shutterstock
Currency war

China’s SWIFT joint venture a ‘defensive move’ in US financial war after Alaska talks underlined ongoing tensions

  • Belgium-based SWIFT financial messaging service provides a network for financial institutions worldwide to send and receive information about financial transactions
  • But some Chinese medium and small-sized banks have reported unstable connectivity to the network, affecting their cross-border transactions

Topic |   Currency war
 Chinese researchers and former officials have long been urging Beijing to make preparations for the worst-case scenario if tensions spiral out of control and the US imposes economic and financial sanctions to isolate Chinese banks and companies from the US dollar-dominated international markets. Photo: Shutterstock  Chinese researchers and former officials have long been urging Beijing to make preparations for the worst-case scenario if tensions spiral out of control and the US imposes economic and financial sanctions to isolate Chinese banks and companies from the US dollar-dominated international markets. Photo: Shutterstock
Chinese researchers and former officials have long been urging Beijing to make preparations for the worst-case scenario if tensions spiral out of control and the US imposes economic and financial sanctions to isolate Chinese banks and companies from the US dollar-dominated international markets. Photo: Shutterstock
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