{
  "id": 14053735,
  "title": "Commentary: America is risking its biggest asset",
  "url": "https://urgent.news/2026/10/12/commentary-america-is-risking-its-biggest-asset",
  "topic": "world",
  "section": "World",
  "published": "2026-10-12T21:59:00.000Z",
  "source": {
    "name": "Channel News Asia",
    "slug": "channel-news-asia",
    "url": "https://www.channelnewsasia.com/commentary/america-choke-point-foreign-policy-strategy-6452796"
  },
  "original_language": "en",
  "account": "America is risking its most valuable asset in the realm of foreign policy, warns Michael Froman for The New York Times. In recent years, nations have begun utilizing choke points as a strategic tool, exploiting their unique assets to exert influence. The United States, in particular, has demonstrated the potency of this tactic through its control over the US dollar, which helped facilitate the 2013 Iran nuclear deal and deter Russia's 2014 invasion of Crimea. China's strategic leverage lies in its dominant position within global supply chains, particularly in rare-earth minerals and magnets. By imposing export restrictions and licensing regimes, China has effectively weaponized this choke point.\n\nThe threat of deploying choke points has already influenced the United States' trade approach, with Iran now turning to geographical choke points, such as the Strait of Hormuz, to disrupt global oil and gas flows. Despite Iran's military limitations, it has successfully shifted the focus of US negotiations from nuclear and regional concerns to re-opening the strait. However, Iran's reliance on this choke point is proving to be fleeting, as nations are rapidly diversifying away from dependence on the Strait of Hormuz and exploring alternative pipelines and ports. Moreover, China's choke points are also facing growing resistance, with countries aiming to reduce their dependence on critical minerals and magnets. This shift in strategy could eventually weaken China's choke point tactics.\n\nEconomic statecraft, akin to nuclear statecraft, suggests that choke points prove most effective as deterrents. The US dollar remains the most durable choke point, as international transactions of vital commodities continue to be conducted in dollars, making targets of US sanctions struggle to settle without using the US currency. While some nations are diversifying away from dollar holdings, the dollar's dominance in global foreign exchange reserves remains high. Nevertheless, the US dollar faces challenges as alternatives like the euro and renminbi seek to play a central role in international transactions and reserve currencies.",
  "summary": "Nations are rediscovering choke points as a foreign policy strategy. They should use them sparingly, says Michael Froman for The New York Times.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}