China’s Attempts to Reduce Its Strategic Vulnerabilities to Financial Sanctions

China’s Attempts to Reduce Its Strategic Vulnerabilities to Financial Sanctions: Chinese policymakers have been aware that financial security is part of national security since the 1997 Asian financial crisis. During the past decade, especially since the escalation of U.S.-China trade tensions since 2018, anxieties among Chinese policymakers over the country’s financial security have increased. In this context, China has accelerated development of an alternative global financial system with the goal of reducing its strategic vulnerabilities to potential sanctions. This artic