Beijing is challenging the privileged status of the Almighty Dollar, as it tries to carve out its own sphere of influence free of Uncle Sam. This new and comprehensive report explores China’s plans to reconfigure the global financial order, analyzing whether it can decouple from the dollar and create a parallel system based on the yuan. Clear and indispensable, the report lays out China’s strategy, assesses its chances of success, and proposes steps US policymakers should take to safeguard America’s financial system.