US Sanctions for China? – Beijing Braces for Impact!
(NewsReady.com) – The Chinese government has long viewed Taiwan as a breakaway province that will unify with the mainland again. The Taiwanese government on the other hand says China has no claim over it. The Chinese communist leaders are now preparing for the economic fallout should they decide to invade the island.
According to an exclusive by The Guardian, Chinese officials in Beijing have ordered stress tests to study the impact Western sanctions would have on its economy. A source told the media outlet the tests began in February and early March after the US and its allies began imposing harsh sanctions on Russia. The communist government has asked key industries to come up with responses should the same sanctions be levied against their own country.
Beijing orders ‘stress test’ as fears of Russia-style sanctions mount https://t.co/f2DrQtbWHG
— Guardian Australia (@GuardianAus) May 4, 2022
China has also reportedly held emergency meetings on April 22 with the country’s banking industry, Ministry of Finance, and others to find ways to protect its $3.2 trillion in foreign currency reserves. The meetings came in the wake of US and UK conferences about how to handle a crisis in Asia if China did decide to invade Taiwan.
The movements by the Chinese government have some wondering if an invasion is imminent or if the country is just doing its due diligence. What do you think?
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