Weaponized Interdependence

Chinese banks in the cross-hairs of Weaponized Interdependence

Photo by Adi Constantin on Unsplash[/caption]

“The current case marks the first time a U.S. court has upheld subpoenas to a Chinese bank in a criminal sanctions probe, raising national security stakes in a debate over whether to invoke the financial penalty prosecutors informally refer to as a “death sentence” because of its potential to kill a bank’s business.

Imposing the penalty would send a powerful message to China but carries short- and long-term risks for the global banking system, financial and international legal experts said.”

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