Part 5/10:
A former adviser to China's central bank, Yu Yong Deng, recently raised alarms over the potential risks to China's vast overseas assets amidst increasing trade tensions with the U.S. With around $3.2 trillion in foreign exchange reserves and over $10 trillion in total overseas assets, a significant amount of this is denominated in U.S. dollars. Deng highlighted the dangers posed by the U.S.'s strategy of "weaponizing" the dollar, which might threaten the security of China's financial holdings, particularly in U.S.-denominated assets.