Today’s global financial system is dominated by the dollar and depends on Western capital, institutions and payment networks. A number of forces are now combining to reduce the system’s reliance on this financial plumbing, and on America in particular. Those who resent the country for using its control over the global financial system to impose its will through sanctions want to cut the superpower out. As US-China tensions increase, is the stage set for a split into separate financial systems?

Hosts: Tom Lee-Devlin, Alice Fulwood and Mike Bird. Guests: Art Karoonyavanich, head of equity capital markets at DBS, Singapore’s biggest bank; Adam Szubin, former Acting Under Secretary at the US Treasury; and Eswar Prasad, Tolani Senior Professor of Trade Policy at Cornell University.