What are the measures in China in the face of possible geopolitical conflict risks?
The German Economic Weekly March 26 how to deal with possible geopolitical conflicts in China and discussed China's response.The content of the article is as follows:
Although Russia is the focus of Western punishment measures, China is also under pressure.China does not begin to think about what strategic consequences will lead to the increasingly split global split into hostile groups after the outbreak of the Russian and Ukraine conflict.In particular, Donald Trump may win the November US election and further exacerbate geopolitical conflicts.
Trump's first term is already a turning point for China.In the trade war, targeted measures and sanctions on chips have taken targeted measures and sanctions on Chinese technology giants in the trade war, leading to a more independent attitude in China's economic development.
Director of the Austrian Institute of Economic Research and trading economist Gabriel Felbemel said: "China is obviously prepared for the upgrade of possible geopolitical conflicts." China is going all out and get rid ofWestern control.
For China, it is also important to reduce the impact of the possible financial sanctions in the West in the future."Beijing is preventing sanctions." The practice of the Western frozen Russia's foreign exchange reserves in the West was particularly shocking China.China now hopes to ensure that the reserve assets are not subject to potential foreign interference.
Therefore, China's large -scale increase in gold reserves.At the same time, China also tried to get rid of the US dollar when formulating a monetary policy.Sebastian Herman, a professor of Chinese political economics at the University of Trier in Germany, believes: "China hopes to prevent the US dollar from being used as a strategic pressure on China." Therefore, China is promoting the "gradual de -US dollar strategy".For two years, it has been slowly but continued to reduce holding U.S. Treasury bonds.
At the same time, China also promotes its currency -RMB in global payment transactions.Although the US dollar is still an indisputable major currency in world trade, some achievements have achieved some results.The central banks of China and many global southern countries have signed the so -called swap agreement, making it easier to obtain RMB and promote the use of RMB as the use of trade and reserve currencies.The exchange quota enables central banks in other countries to convert domestic currencies into RMB.
The Chinese government is still promoting the RMB cross -border payment system.This is a cross -border payment system launched by the Bank of China with RMB settlement.The RMB cross -border payment system aims to replace the Settlement Settings of the Global Bank of Financial Communications (SWIFT), and banks in Iran, North Korea and Russia are excluded from the latter because of sanctions.
Emerging industries such as Brazil, Russia, India and South Africa also agreed to the US dollar.For example, in 2023, RMB accounted for more than 40%of the total transaction of Russia's foreign exchange market.Ferbelmal believes that "strong RMB" has also appeared in neighboring countries.As Russia has established tariff alliances with many neighboring countries, the RMB has also become important payment methods for Kazakhstan, Armenia and Belarus.
The global trade flow has also changed due to China's measures.According to customs data, in 2023, the goods exported to neighbors of Southeast Asia exceeded the goods exported to the United States for the first time.At the same time, China ’s exports to India, Indonesia, Russia, Saudi Arabia, and Morocco also exceeded the export of Europe, Japan and the United States for the first time.
Chinese media evaluate new trade routes: China is never afraid of competition.But if Western countries continue to make excuses for Chinese companies, we also have other choices.At that time, China will pay more attention to the global southern countries, and the potential of these markets will be "infinite."(Compilation/Zhong Sirui)
