The digital yuan offers China a way to dodge the dollar

drills, China has simulated an invasion of Taiwan, which it considers a “renegade province”. Talk of war has preoccupied Chinese bloggers, pundits and politicians since Nancy Pelosi, speaker of America’s House of Representatives, visited Taipei in August.Finance officials in Beijing have no doubt been prepping for a conflict, too. They have watched with dismay as America and its allies imposed crippling sanctions on Russian banks and kicked seven of them out of , a Belgium-based messaging network used to send payment instructions. A Chinese invasion of Taiwan could result in similar measures, freezing Chinese banking activity abroad. In a shooting war over Taiwan, no one knows who would win. In a financial war, an American victory seems assured.