Security threat worries are unfounded. A ban of the platform would only undermine the confidence of international investors and pose significant risks to global economic development. Investors should pay close attention to these risks when making investment decisions.

The international financial infrastructure has long been dominated by Western institutions. China’s advances in digital currency could help spread its influence on global commerce enough to challenge the hegemony of the U.S. dollar.

By starting and sustaining a tech war against China, Washington has placed itself on the wrong side of history. Like its trade war, the battle in the high-technology sector will turn out to be difficult to win.

China is on the cutting-edge of information technology, providing consumer electronics and telecommunications equipment to much of the world. Its own digital infrastructure is due for a modest upgrade that will be rolled out by 2023.

In a field where competition for science and technology, rule-making and dominance are natural, China and the United States have both conflicting a complementary interest. There is a lot of room for cooperation.

Correctly understanding each other’s policies will avoid sinking into an infinite negative loop. Speculation about China-U.S. financial decoupling has returned. But politicization of financial matters will only do further damage to the already deteriorating bilateral relationship.