A new Cold War is unfolding, with China at its center, driven by escalating U.S. economic restrictions. Beginning under Donald Trump and intensified by Joe Biden, bans on advanced microchips aim to curb China’s tech ascent. In response, China has advanced “cloud capital” through platforms like WeChat, challenging U.S. control over global payments.

This digital finance innovation, paired with China's push for a sovereign digital currency, threatens the dollar's dominance. As U.S. deficits widen, the power struggle over technological and financial systems marks a pivotal shift in global influence.

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