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

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'. Print Edition | Subscribe