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- Title
WEAPONIZING THE PLUMBING: DOLLAR DIPLOMACY, YUAN INTERNATIONALIZATION, AND THE FUTURE OF FINANCIAL SANCTIONS.
- Authors
Rotblat, Cameron
- Abstract
This Article assesses China's legal and strategic responses to the recent financial sanctions imposed against Iran. The Article traces the legal structure of the sanctions regime, arguing that the structure could prevent an effective "snapback" of sanctions. Then, drawing upon the writings of Chinese legal scholars, the Article analyzes the way in which US sanctions have strengthened China's interest in the internationalization of the yuan. Uncovering a divergence between the United States and China on the legality of secondary sanctions and on the rationale of yuan internationalization, this Article concludes that future sanctions risk bi-polarization of international financial infrastructure.
- Subjects
CHINA; DOLLAR diplomacy; INTERNATIONAL sanctions; RENMINBI; GLOBALIZATION; CHINA-United States relations; JOINT Comprehensive Plan of Action (2015)
- Publication
UCLA Journal of International Law & Foreign Affairs, 2017, Vol 21, Issue 2, p311
- ISSN
1089-2605
- Publication type
Article