BEIJING: In a war with the US over Taiwan, China would need to create a global network of companies under US sanctions, seize American assets within its borders, and issue gold-denominated bonds, according to Chinese government-affiliated researchers studying...
FILE PHOTO: A Chinese warship fires towards the shore during a military drill near Fuzhou near the Taiwan controlled Matsu Islands that are close to the Chinese coast, China, April 8, 2023.
But discussions about US sanctions, including from researchers within China's foreign and financial policy establishment, surged 50 per cent in the 12 months following the start of the war in Ukraine compared with the corresponding period a year earlier, according to a review of China National Knowledge Infrastructure, the country's largest database of academic literature.
"The risk that China's overseas reserve assets may be frozen seems more imminent," wrote Wang Yongli, general manager of China International Futures, one of the country's largest commodities and financial futures brokerage businesses. Reuters could not determine the extent to which the think tanks influence China's decision-making, but they are known to brief and write reports for leading officials.
Researchers at China Minmetals Corporation, one of the country's top miners, wrote in June that emergency plans to guarantee supplies of iron, copper, nickel, and other strategic metals were needed, noting that Russian nickel products were suspended from the London Metals Exchange as a consequence of the war in Ukraine.
"Due to the close economic and financial ties between China and the United States, the United States will not do something like 'kill a thousand enemies and injure eight hundred of its own'," Yu wrote.
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