How Western sanctions could make China the winner of the war in Ukraine | Opinion
from 71% to roughly 60% over the last 12 years, the difference has been made up by an array of other currencies, including a very small presence of yuan, not a single table-turning challenger.
That could change if BRICS countries and others feel compelled by the impact of Ukraine-related sanctions to build alternative economic infrastructures with China squarely at the head of the table. Such a development would all but eliminate the effectiveness of future sanctions by democratically inclined nations and give autocracies a safe economic space in which to flourish.
To be fair, such a move would not be without risk to China, which remains the world’s largest holder of U.S. currency. But China need not replace the dollar with the yuan to achieve its goal of weakening U.S. influence over the global economy.
Todd J. Stein is a principal of Braeside Capital, L.P., a Dallas-based private investment partnership. He wrote this column for The Dallas Morning News.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Chinese official calls sanctions on Russia increasingly 'outrageous'A senior Chinese government official said on Saturday that sanctions imposed by Western nations on Russia over Ukraine are increasingly 'outrageous'.
Read more »
WSJ News Exclusive | How the U.S. and EU Cut Russia Off From the Global EconomyPlanning for sanctions began in late November and had advanced enough that when Russia invaded Ukraine on Feb. 24 Western officials were ready to act.
Read more »
Easy-to-use handheld weapons provided by the US are helping Ukrainians shred Russian tanks and aircraftRussian leaders planned on a quick victory in Ukraine. Ukrainian troops, with help from Western-made weapons, have upset those plans.
Read more »
China’s top envoy to US: Will work to de-escalate war in UkraineFollowing US President Joe Biden’s warning to Chinese President Xi Jinping over Beijing supporting Russia’s invasion of Ukraine, Qin Gang, China’s amb
Read more »