May 8, 2022
1 min read

China orders ‘stress test’ as sanctions fear mount

Several key Chinese government agencies — from banking regulation to international trade — have been asked to come up with responses if the West imposed the same embargoes on China…reports Asian Lite News

Concerned about sweeping Russia-style sanctions from the West, Beijing has ordered a comprehensive “stress test” to study the implications of a similar scenario for its economy, The Guardian reported.

According to a person with direct knowledge of the matter, an extensive exercise began around late February and early March when Western allies imposed unprecedented sanctions against Moscow after Russia’s military invasion of Ukraine.

Several key Chinese government agencies — from banking regulation to international trade — have been asked to come up with responses if the West imposed the same embargoes on China, The Guardian reported.

“Those involved in this exercise use how Russia was treated as a baseline for China’s own policy response should it be treated in a same fashion by the west. This stress test involves a range of methodology, including modelling,” the person added.

Beijing did not specify why it has asked its vast bureaucracy to carry out such an exercise, the person said.

The source said that it was a “natural reaction” from Beijing given its close relationship with Moscow.

A second source, who wished to remain anonymous, said that Chinese diplomats had in the past few weeks also been meeting experts to understand the trajectory of this conflict.

“From Beijing’s perspective, if the US-led western allies could take such measures against Moscow, they could also do the same to China. Therefore, it needs to know how resilient the country really is,” said Tong Zhao, a senior fellow at the Carnegie Endowment for International Peace based in Beijing, The Guardian reported.

ALSO READ: Anti-China sentiments on rise in Bangladesh

Previous Story

Chinese firms rush to Singapore, HK bourses amid US delisting threat

Next Story

Iran: EU’s nuke talks coordinator to visit Iran over Vienna talks

Latest from -Top News

Multi-alignment, upgraded

With US ties strained and China tense, New Delhi taps Europe’s harder edge for co-development, clean tech and strategic autonomy, writes Manoj Menon India is recalibrating its great-power hedging as frictions with

India-EU Trade Deal Breakthrough Soon?

Negotiators report increased momentum in discussions, which have been given a boost from US President Donald Trump’s tariff offensive…reports Asian Lite News India and the European Union aim to finalise a trade

Europe Seeks Peace in Gaza

European countries condemn Israeli interception of Gaza-bound flotilla, demand safety of citizens…reports Asian Lite News Israel’s interception of an international flotilla carrying humanitarian aid to Gaza has sparked condemnation across Europe, with

GAZA: Egypt to Host Peace Talks

Egypt hopes the discussions will help “end the war and the suffering of the brotherly Palestinian people, which has continued for two consecutive years…reports Asian Lite News Egypt will host Israeli and

‘My Injuries Made Me’

During his four-year battle with injury, the incumbent fast bowling spearhead made occasional appearances but couldn’t bear the workload and demands of red-ball cricket….reports Asian Lite News England tearaway Jofra Archer believes
Go toTop

Don't Miss

China says India making ‘unreasonable, unrealistic demands’

China criticises India over its stand adds that PLA made

China’s Property Market on the cusp of collapse?

Evergrande, Country Garden … The property market in China has