China’s drive to sidestep weaponised Western finance gains speed

International markets might be the ultimate arbiter of the yuan’s success as a global currency, but Beijing has been giving it rather large pushes.

China is developing alternative cross-border financial infrastructure to mitigate risks from US-dominated systems embedded in the world economy.
The authorities are prioritising independent transaction and settlement systems and developing broader and more liquid investment markets domestically.

Beijing has tasked mBridge, a multilateral central bank...