As alternative networks like China’s CIPS gain traction, the multilateral pushback is steadily eroding US financial dominance
4-MIN READ4-MIN ListenAlex LoAlex Lo has been an SCMP columnist since 2012, commenting on China and international affairs. Published: 8:30pm, 27 Sep 2026Last week, the president of the United States stood at the podium of the United Nations General Assembly and asked aloud whether he should “annihilate the Islamic Republic and do it quickly”. Donald Trump then turned to Venezuela’s oil and declared: “To the victor belong the spoils, you’ve all heard that …”
