Russia was not the first Chinese partner to believe it would win a very fast war and found itself in a hole, but China wasn’t usually pulled into it with them, Andrew Small writes.
The problem Beijing faced in 2022 was that in crucial areas, it was still too soon to make a break with the West. China remained dependent on the U.S. dollar system. For all the speculation about renminbi internationalization, Chinese payment systems, and its new digital currency, China was barely any closer to constructing a resilient alternative financial architecture than it had been in 2014.
As the FBI director, Christopher Wray, noted in a speech: “There were a lot of Western companies that had their fingers still in that door when it slammed shut. If China does invade Taiwan, we could see the same thing again, at a much larger scale. Just as in Russia, Western investments built over years could become hostages, capital stranded, supply chains and relationships disrupted.”
Western companies are grappling with the scenario that they would have to leave China—just as they are now leaving Russia—if China tried to forcibly integrate Taiwan. And it doesn’t help, of course, that China is adopting Russia’s aggressive rhetoric. The effect is the same as from the COVID policy: foreign companies are hitting the pause button. New investments are suspended for the moment...
The changing nature of warfare dictates that Putin cannot win in the true sense of the word... The war is being updated in real time on social media, the impact of the war is expanding from the maritime to land to air transport and gradually affecting regional trade links; transnational capital is being withdrawn and projects are being stalled. War is no longer simply a military conflict but a broad economic war. The issue of territorial borders is no longer the most important aspect.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Fusion energy is one step closer thanks to developments in China, according to Chinese state mediaAccording to state media, Chinese scientists are now in a position to supply critical parts for the planned International Thermonuclear Experimental Reactor project.
Weiterlesen »
China sentences Chinese-Canadian pop star Kris Wu to 13 years for sex crimesBeijing’s Chaoyang District Court has sentenced Chinese Canadian pop star Kris Wu to more than a decade in prison for several sex crimes, including rape and repeatedly luring underage girls.
Weiterlesen »
Sixers Mailbag: ‘Why is P.J. Tucker still in the starting lineup?’The Inquirer's Keith Pompey answered that and more questions from Sixers fans, touching on topics including Tobias Harris, Paul Reed and Shake Milton.
Weiterlesen »
World Cup 2022 USA vs. England live updates: Gio Reyna not in starting lineupThe USMNT faces England in its second match in the 2022 World Cup. Follow the New York Post’s live coverage.
Weiterlesen »
Texans make it official, name Kyle Allen starting quarterback against DolphinsKyle Allen is officially the Texans’ new starting quarterback heading into Sunday’s road game against the Miami Dolphins.
Weiterlesen »