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e Cause EU, U.S. and Japan Enhance Their Alliance

Started by PocketOption, Mar 09, 2022, 11:10 am

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e Cause EU, U.S. and Japan Enhance Their Alliance

 and e

e Cause E.U., U.S., and Japan Enhance Their Alliance


e caused E.U., U.S., and Japan to enhance their alliance. Last year, President Joe Biden launched a strategy to restore relations with the Allies to pressure Beijing. ’s invasion of e almost two weeks ago showed what the Allies could do. For China, the imposition of sanctions on  by the United States and its allies is a warning sign that could guide future economic and foreign policy. Chinese officials have stepped up efforts to boost their country’s self-confidence after President Trump imposed sanctions on Huawei; It has also imposed tariffs on billions of dollars worth of Chinese goods. However, Trump did it all on his own, damaging ties with Europe; It also provoked uncertainty among U.S. allies in Asia.


The response to e was nothing more than an unintentional move by the U.S. Experts say that given that the U.S. has achieved coordination of financial sanctions and export controls with Europe and Japan, this is highly troubling to China. This, in their view, actually only underscores the policy debate over the critical impact of China’s supply chains as well as insecurity.


From Germany to Japan, many countries joined in freezing the assets of n oligarchs in the U.S., Restricting access to the global financial system of ’s largest banks and disconnecting them from critical n technologies.


-e War – China Against ‘Unilateral’ Sanctions


On Monday, the Chinese Foreign Minister noted that the friendship between China and  is strong. Beijing has refused to allow  to invade e. China focuses on facilitating talks between  and e; It also opposes the economic measures taken against . China’s foreign ministry regularly said it opposes all illegal unilateral sanctions. He did not elaborate on how sanctions against  imposed by many countries could be viewed unilaterally.


Last week, Foreign Ministry spokesman Wang Wenbin said that China disagrees with resolving issues through sanctions; Especially unilateral sanctions that lack the basis of international law. In his view, sanctions only pose severe difficulties for the economies and livelihoods of the countries concerned. This further intensifies the rift and controversy. The escalation of trade tensions between the U.S. and China has accelerated Beijing’s efforts to strengthen ties with Europe over the past few years. The war in e threatens all this.


According to the global trade leader, China’s “balanced act,” which seeks to support  in maintaining relations with Europe silently, will become more and more difficult. This has implications for trade links, primarily with the E.U. China’s reputation risks grow. The country hoped to use the E.U. as compensation for pressure from the U.S. Europe currently sees  as an existential threat. Now the impact of sanctions on China is secondary. This conflict raises more critical questions about industrial policy and China’s diplomatic relations with the West.


Chinese Economy


China faces many economic challenges; Starting with consumer demand, ending with the slowdown in the massive property sector. China is more involved in the global economy than . Consequently, it does not have the same vulnerability to sanctions as . Europe relies on n oil and natural gas; However,  is otherwise small globally, with the size of the U.S. state of Texas.


Economists estimate that because Western trade with China is much larger than with , a total trade war with China would be too costly for the West. The West welcomes if China takes a stand against  and actively joins in Western protests. Now that China debris is relatively neutral, this is probably the top we can expect. According to a leading economist at Oxford Economics, the e war and sanctions should reduce global GDP by only 0.2% this year; This will significantly impact Europe.


SWIFT and China,


Global finance provides a clear example of China’s ability to support . Just days after the start of the war, the United States and the European Union promised to remove some n banks from SWIFT, and they did so. According to the professor of finance, if all n institutions are banned from joining the SWIFT network, then the level of political pressure will be very different from what it is now. Then any attempt to avoid punishment will be considered collaboration, which is quite dangerous for Chinese financial institutions. The Beijing-based Asian Infrastructure Investment Bank announced last week that it was suspending operations with  and Belarus.


On the other hand, general political dysfunction in the U.S. Democratic and Republican parties increasingly fail to work together to achieve even widely supported domestic goals. Goujon noted that the 2024 U.S. presidential election risks how long unity between U.S. allies will last. The Biden administration is making every effort to unite world democracies. Since the beginning of the e war, more of them seem to be listening.


Quad leaders talked about the conflict last week; As a result, they reaffirmed their commitment to work together as a group. However, India has not yet been convicted of ’s attack on e. At a briefing last month, a U.S. official told reporters he had no plans to involve Beijing in the economic aspects of Indo-Pacific construction. When asked about Biden’s Indo-Pacific strategy on Monday, the Chinese foreign minister said the U.S. goal was to create a version of NATO’s Indo-Pacific. China opposes the bloc’s policy.


 

 

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