TFIPOST हिन्दी
TFIPOST Global
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    Shaken by Madurai Murugan Conference, INDIA Bloc’s Muslim face in Tamil Nadu Tries to Hijack Venue

    Shaken by NDA’s Murugan Conference, INDIA Bloc’s Muslim face in Tamil Nadu Tries to Hijack Venue

    amarnath yatra 2025

    First Batch of Amarnath Yatra Pilgrims Reaches Holy Cave Amid Tight Security

    Mazar Row Erupts in Jaipur's Maharani College: Hindu Groups Flag Land Jihad

    Mazar Row Erupts in Jaipur’s Maharani College: Hindu Groups Flag Land Jihad

    Prime Minister Narendra Modi has been conferred with Ghana’s highest state honour

    PM Modi Receives Ghana’s Highest Civilian Award ‘Order of the Star’ During Historic Visit

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    Why Every Modern Retail Shop Needs Reliable Billing Software Today

    Why Every Modern Retail Shop Needs Reliable Billing Software Today

    A Guide to Removing False or Negative Content About Your Business Online

    A Guide to Removing False or Negative Content About Your Business Online

    Why Smart Money Flows Into the Dow Jones: Your Gateway to American Excellence

    Why Smart Money Flows Into the Dow Jones: Your Gateway to American Excellence

    CDPLC gives MDL a strategic foothold in the Indian Ocean Region

    India’s Strategic Victory : Mazagon Docks acquires majority stake in Sri Lankan Dockyard

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    Images Reveal Devastating Damage to Terror Camps in PoK

    Satellite Images Reveal Devastating Damage to Terror Camps in PoK After Operation Sindoor

    F-35 jet stranded in Kerala

    Grounded British F-35B to Be Shifted to Kerala Hangar for Repairs, UK Confirms

    Indian Navy Was Ready to Strike: A Catastrophic Blow Pakistan Barely Escaped

    Op Sindoor: Indian Navy Was Ready to Strike – A Catastrophic Blow Pakistan Barely Escaped

    UK’s F-35 Jet Grounded in Kerala for 10 Days Over Engineering Glitch

    UK’s F-35 Jet Grounded in Kerala for 10 Days Over Engineering Glitch, No Takeoff in Sight

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Three Indians Abducted in Mali During Al-Qaeda-Linked Attack; India Demands Safe Release

    Three Indians Abducted in Mali During Al-Qaeda-Linked Attack; India Demands Safe Release

    Prime Minister Narendra Modi has been conferred with Ghana’s highest state honour

    PM Modi Receives Ghana’s Highest Civilian Award ‘Order of the Star’ During Historic Visit

    Dalai Lama to turn 90

    Dalai Lama Asserts Authority Over Succession, Rejects Chinese Interference in Reincarnation Process

    Two Chinese Nationals Charged with Spying on US Navy

    Two Chinese Nationals Charged with Spying on US Navy: DOJ Warns of Escalating Threats

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    amarnath yatra 2025

    Amarnath Yatra Begins: First Group of Pilgrims Flagged Off Amid Tight Security

    Reclaiming India's Past Through Modern Archaeology

    Reclaiming India’s Past Through Modern Archaeology

    tamil civilisation

    Tamil Nadu: The Hidden Legacy of An Unbroken Knowledge Civilization

    jagannath yatra 2025 begins

    Jagannath Rath Yatra Begins, Millions Join Sacred Procession in Puri

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    Digital India completes 10 years

    Digital India Completes 10 Years: PM Modi Says It Has Evolved Into a People’s Movement

    South Indian cuisine is a celebration of flavour,

    South India’s Guilt-Free Delights: 5 Low-Calorie Snacks That Taste Like Pure Joy

    check how old your aircraft is

    Curious About Your Aircraft’s Age? Here’s How to Find Out in Under a Minute

    brain health boosting exercises

    10 Fun Brain Exercises to Keep Your Mind Sharp and Delay Cognitive Decline

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
Tfipost.com
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    Shaken by Madurai Murugan Conference, INDIA Bloc’s Muslim face in Tamil Nadu Tries to Hijack Venue

    Shaken by NDA’s Murugan Conference, INDIA Bloc’s Muslim face in Tamil Nadu Tries to Hijack Venue

    amarnath yatra 2025

    First Batch of Amarnath Yatra Pilgrims Reaches Holy Cave Amid Tight Security

    Mazar Row Erupts in Jaipur's Maharani College: Hindu Groups Flag Land Jihad

    Mazar Row Erupts in Jaipur’s Maharani College: Hindu Groups Flag Land Jihad

    Prime Minister Narendra Modi has been conferred with Ghana’s highest state honour

    PM Modi Receives Ghana’s Highest Civilian Award ‘Order of the Star’ During Historic Visit

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    Why Every Modern Retail Shop Needs Reliable Billing Software Today

    Why Every Modern Retail Shop Needs Reliable Billing Software Today

    A Guide to Removing False or Negative Content About Your Business Online

    A Guide to Removing False or Negative Content About Your Business Online

    Why Smart Money Flows Into the Dow Jones: Your Gateway to American Excellence

    Why Smart Money Flows Into the Dow Jones: Your Gateway to American Excellence

    CDPLC gives MDL a strategic foothold in the Indian Ocean Region

    India’s Strategic Victory : Mazagon Docks acquires majority stake in Sri Lankan Dockyard

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    Images Reveal Devastating Damage to Terror Camps in PoK

    Satellite Images Reveal Devastating Damage to Terror Camps in PoK After Operation Sindoor

    F-35 jet stranded in Kerala

    Grounded British F-35B to Be Shifted to Kerala Hangar for Repairs, UK Confirms

    Indian Navy Was Ready to Strike: A Catastrophic Blow Pakistan Barely Escaped

    Op Sindoor: Indian Navy Was Ready to Strike – A Catastrophic Blow Pakistan Barely Escaped

    UK’s F-35 Jet Grounded in Kerala for 10 Days Over Engineering Glitch

    UK’s F-35 Jet Grounded in Kerala for 10 Days Over Engineering Glitch, No Takeoff in Sight

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Three Indians Abducted in Mali During Al-Qaeda-Linked Attack; India Demands Safe Release

    Three Indians Abducted in Mali During Al-Qaeda-Linked Attack; India Demands Safe Release

    Prime Minister Narendra Modi has been conferred with Ghana’s highest state honour

    PM Modi Receives Ghana’s Highest Civilian Award ‘Order of the Star’ During Historic Visit

    Dalai Lama to turn 90

    Dalai Lama Asserts Authority Over Succession, Rejects Chinese Interference in Reincarnation Process

    Two Chinese Nationals Charged with Spying on US Navy

    Two Chinese Nationals Charged with Spying on US Navy: DOJ Warns of Escalating Threats

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    amarnath yatra 2025

    Amarnath Yatra Begins: First Group of Pilgrims Flagged Off Amid Tight Security

    Reclaiming India's Past Through Modern Archaeology

    Reclaiming India’s Past Through Modern Archaeology

    tamil civilisation

    Tamil Nadu: The Hidden Legacy of An Unbroken Knowledge Civilization

    jagannath yatra 2025 begins

    Jagannath Rath Yatra Begins, Millions Join Sacred Procession in Puri

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    Digital India completes 10 years

    Digital India Completes 10 Years: PM Modi Says It Has Evolved Into a People’s Movement

    South Indian cuisine is a celebration of flavour,

    South India’s Guilt-Free Delights: 5 Low-Calorie Snacks That Taste Like Pure Joy

    check how old your aircraft is

    Curious About Your Aircraft’s Age? Here’s How to Find Out in Under a Minute

    brain health boosting exercises

    10 Fun Brain Exercises to Keep Your Mind Sharp and Delay Cognitive Decline

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
No Result
View All Result
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
  • Economy
  • Defense
  • Geopolitics
  • Knowledge
  • Law
  • Lounge

China started this year with dreams of global dominance. It can end the year by getting kicked out of the Dollar system

There goes the world domination dream

Akshay Narang by Akshay Narang
18 August 2020
in Asia Pacific
china dollar system

(PC: Sun)

Share on FacebookShare on X

China had started 2020 with the ambitions of world dominance, but it seems that its global ambitions would be done and dusted by the end of this year itself. The strong US-China decoupling is paving the way for big and brutal sanctions against China, and ultimately Washington could exercise the ultimate ‘Nuclear option’, that is, kicking China out of the global dollar-based system to destroy the Chinese economy.

China itself seems wary of the United States using the final option, that is, blocking Beijing’s use of Dollars for international payments. The US Dollars is the world’s premier reserve currency used for settlement of cross-border transactions. Therefore, anyone pushed out of the global dollars banking system gets marginalised and finds it hard to return to the mainstream. In this context, Chinese banks have already started complying with American sanctions on Hong Kong.

RelatedPosts

Jinnahwadi Party: BJP Tears Into Congress Over Ajoy Kumar’s Shocking ‘Sikkim a Neighbouring Country’ Remark

Two Chinese Nationals Charged with Spying on US Navy: DOJ Warns of Escalating Threats

US-India Trade Deal Nears Completion, Says Jaishankar: ‘We’re Beyond the Middle of Negotiations’

Load More

According to a Bloomberg report, the biggest of China’s state-run banks are now taking initial steps to comply with the US sanctions on 11 sanctioned Hong Kong officials, including the Hong Kong Chief Executive Carrie Lam. People familiar with the development have told Bloomberg that the Chinese state-run banks have turned cautious in opening new accounts for the sanctioned officials.

Meanwhile, one bank is said to have suspended the opening of new bank accounts for sanctioned Hong Kong officials. The reason behind the strict compliance with American sanctions is the risk of getting kicked out of the access to dollar funding and global dollars-based payments system.

The four largest Chinese banks- Industrial & Commercial Bank of China, the China Construction Bank, the Agricultural Bank of China, and the Bank of China understand that unlike Beijing, Washington’s dominance doesn’t work only on verbal threats. American sanctions can be painful because they do not only target officials, but also those institutions that provide financial services to sanctioned officials.

American sanctions actually work as a trap and if an institution violates it, then such institution itself gets weighed down when the US weaponizes the greenback’s dominance. This is how the US also entrapped North Korea, Iran, Russia and Venezuela into long-term financial crises.

Therefore, if Chinese banks continue to transact with the 11 sanctioned Hong Kong officials, then they themselves could get cut out of the dollars-based international system. A lot is at stake for the four largest Chinese banks. Last year, they had received 1.1 trillion US dollars funding. Now, if Trump weaponizes the dollar dominance, then the Chinese banking system would come crashing down with a severe 1.1 trillion Dollars jolt.

US-China tensions are at an all-time high, and the Trump administration is making a political issue out of the China challenge. Trump has already waged a trade war with Beijing, followed by attempts to throw China out of the global supply chains.

As tensions escalate even further in the run up to the US Presidential polls, there is every possibility of Trump kicking China out of the global dollars payment system to merge as a strong leader who shattered Beijing’s global dominance ambitions.

Beijing is itself treading cautiously, because despite several attempts it has failed to make Yuan a real international currency. China cannot bypass the greenback in international transactions, because the US dollar continues to dominate the cross-border settlements system. Following the 2015 stock market crash, Beijing has itself side-lined its Yuan internationalisation plans.

If the US kicks China out of the Dollar system, then it could prove to be the severest blow to the Chinese economy till date. An incapacitated China would find it virtually impossible to engage in global trade, if and when, the US exercises the nuclear option. And quite literally, the only option left with China would be barter trade- a true nightmare for the exports-based economy.

Tags: ChinaUS
Share96TweetSend
Previous Post

Baahubali Prabhas in and as ‘Adipurush Shri Ram’. Directed by Tanhaji Director. Aided by Ajay Devgn

Next Post

The size of the Chinese market and the sheer volume of trade stops ASEAN from acting against China

Related Posts

Honoring Women in Combat: A Tribute to Tanushka Singh and Shivangi Singh on International Women’s Day
Asia Pacific

Honoring Women in Combat: A Tribute to Tanushka Singh and Shivangi Singh on International Women’s Day

8 March 2025

On International Women’s Day, we celebrate the remarkable achievements of women across all spheres of life, acknowledging their strength,...

CHINA-PAK CPEC
Asia Pacific

INDIA MONITORS CHINA-PAK UPGRADE OF CPEC

18 October 2024

China and Pakistan put on an act of friendly partnership over the China Pakistan Economic Corridor (CPEC) when their...

Maldives Islamic
Asia Pacific

Maldives is the New Pakistan

15 January 2024

The situation in Maldives is worrying for India. Political groups and Islamic Organizations in Maldives are increasingly speaking against...

Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms of use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Currently Playing

Junior Kharge Calls to Ban RSS Amid Karnataka Congress Civil War!

Junior Kharge Calls to Ban RSS Amid Karnataka Congress Civil War!

00:10:02

Kerala Muslim Groups oppose Zumba classes for School Children

00:07:21

Crash or sabotage? Aviation expert on ahmedabad plane crash probe.

00:13:37

Ahmedabad Air India Crash: Was It Sabotage? Major Investigation Underway

00:06:27

10% Seats for Muslims? Shocking Demand from DMK’s ally MMK Ahead of 2026!"

00:04:52
Facebook Twitter Instagram Youtube
tfipostTfipost.com
Right Wing | News Analysis | Indian Opinion
  • About us
  • Careers
  • Brand Partnerships
  • Terms of use
  • Privacy Policy
  • Sitemap

©2025 TFI Media Private Limited

No Result
View All Result
  • Premium
  • Politics
    • Analysis
    • Opinions
    • Trending
  • Economy
    • Business
    • Finance
  • Defense
    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
TFIPOST हिन्दी
TFIPOST Global

©2025 TFI Media Private Limited