East Asia Watch

US-China fight - taking it to the financial markets

Amid recent threats aimed at Chinese firms' access to US funds, China opens its doors wider to foreign financial institutions

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After the United States labelled China a currency manipulator last August, veteran banker Chen Yuan warned that the trade war between the two giants was evolving into a financial and currency war. When Washington dropped the designation in January, China heaved a sigh of relief, but the respite was momentary.

The dangers of the money markets being a new front in the US-China contest are rising again.

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A version of this article appeared in the print edition of The Straits Times on June 23, 2020, with the headline US-China fight - taking it to the financial markets. Subscribe