As the world sanctions Russia, China takes note
Author: Yun Jiang, AIIA
China is watching closely at how countries are reacting to Russia’s invasion of Ukraine, in preparation for the day it might make its own military move on Taiwan. It is not only considering the military response, but also the economic response. Seeing the economic and financial pressure being applied to Russia, China will want to make its economy more resilient to similar sanctions.
One key lesson for Beijing is the importance of integrating with the world while depending less on the West — and where this isn’t feasible, such as in the high-tech sector, to continue to build self-reliance.
For China, the goal of economic self-reliance has always been central, albeit one that is in tension with its desire to benefit from economic integration with other countries. Even before Russia’s invasion of Ukraine, China has been taking steps to protect its financial system, including through alternative payment…
