{"id":54918,"date":"2023-05-08T08:01:33","date_gmt":"2023-05-07T23:01:33","guid":{"rendered":"https:\/\/www.theguardian.com\/world\/2023\/may\/08\/chinas-war-chest-how-beijing-is-using-its-currency-to-insulate-against-future-sanctions"},"modified":"2023-05-08T08:01:33","modified_gmt":"2023-05-07T23:01:33","slug":"chinas-war-chest-how-beijing-is-using-its-currency-to-insulate-against-future-sanctions","status":"publish","type":"post","link":"https:\/\/eastasianews.net\/wp\/?p=54918","title":{"rendered":"China\u2019s war chest: how Beijing is using its currency to insulate against future sanctions"},"content":{"rendered":"<p>In the wake of sanctions on Russia, China has pushed to conduct more trade using the yuan in an effort to reduce its reliance on the dollar<\/p>\n<ul>\n<li><a href=\"https:\/\/www.theguardian.com\/world\/2022\/aug\/01\/china-and-taiwan-whats-behind-the-tensions-in-30-seconds\">China-Taiwan tensions explained in 30 seconds<\/a><\/li>\n<\/ul>\n<p>For more than a decade, Beijing has been trying to reduce its reliance on the dollar, motivated by risks emerging from the US economy \u2013 such as the financial crash of 2008 \u2013 and the desire to boost its own sphere of influence.<\/p>\n<p>But in the last year, a drive to insulate China\u2019s economy from dollar-based sanctions has emerged as possibly the most important incentive for decoupling from the dollar, as China looks to prepare for the possibility of conflict with Taiwan.<\/p>\n<p> <a href=\"https:\/\/www.theguardian.com\/world\/2023\/may\/08\/chinas-war-chest-how-beijing-is-using-its-currency-to-insulate-against-future-sanctions\">Continue reading&#8230;<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the wake of sanctions on Russia, China has pushed to conduct more trade using the yuan in an effort to reduce its reliance on the dollarChina-Taiwan tensions explained in 30 secondsFor more than a decade, Beijing has been trying to reduce its relian&#8230;<\/p>\n","protected":false},"author":3580,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"sns_share_botton_hide":"","vkExUnit_sns_title":"","_vk_print_noindex":"","sitemap_hide":"","_veu_custom_css":"","veu_display_promotion_alert":"","vkexunit_cta_each_option":"","footnotes":""},"categories":[41,50,556,74],"tags":[],"class_list":["post-54918","post","type-post","status-publish","format-standard","hentry","category-asia-pacific","category-china","category-chinese-economy","category-taiwan"],"veu_head_title_object":{"title":"","add_site_title":""},"_links":{"self":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts\/54918","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/users\/3580"}],"replies":[{"embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=54918"}],"version-history":[{"count":1,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts\/54918\/revisions"}],"predecessor-version":[{"id":54919,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts\/54918\/revisions\/54919"}],"wp:attachment":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=54918"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=54918"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=54918"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}