In a rare display of cooperation amid broader diplomatic tensions, the United States and China have joined forces to combat money laundering. During a visit to Beijing and Shanghai, US Secretary of State Antony Blinken will discuss with Chinese officials the issue of weapon-related material exports to Russia. However, it is expected that the focus will primarily be on strengthening mutual support in the fight against money laundering.
The two countries have recently launched a bilateral forum to address this growing threat, which has become a major concern for both nations. Underground Chinese networks equipped with new technologies have facilitated the rapid laundering of illicit funds, making them attractive to transnational criminal gangs.
To effectively combat this menace, the United States and China, as the two most powerful nations in the world, recognize the importance of collaboration. This cooperation demonstrates a rare area of agreement between the two countries and highlights their shared interest in protecting financial systems and combating the threat posed by transnational crime.
