EconomyChina needs U.S. dollars but is building a hedge against Washington’s sanctions
The United States can pressure Chinese banks over Iran by leveraging their access to the U.S. financial system. Beijing is meanwhile developing alternatives, including the Cross-Border Interbank Payment System, or CIPS.
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CNBC★★★★☆2026-08-25 16:00Original
China needs U.S. dollars but is building a hedge against Washington’s sanctions
Economy