Fears about the post-sanction risk are rapidly escalating with leading financial and academic figures in China calling for even greater readiness.
Comments from top Chinese institutions based on a recent conference were published on ICBC’s website as part of a concerted effort to identify risks and solutions for the worsening situation.
Travel restrictions and bans; exclusion of Chinese entities from global value chains; trade embargoes; and overseas asset seizures could all be possible moves, according to Sun Jie, a researcher at the Chinese Academy of Social Sciences.
Targeted blocks on specific industries, institutions and individuals were «highly likely», said Ju Jian dong, an economics professor at Tsinghua University, with banned access to the dollar system.
Tech & Finance
Hong Kong is facing increasing pressure from Washington over the perceived undermining of freedoms in the city. In addition to the removal of Hong Kong’s special trading status last month, sanctions were also issued last week on 11 officials from the city and mainland China which also bars financial institutions from related dealings.
According to the world’s largest bank by assets, the world’s largest economy has two key means cause significant strain.
«Technology and finance have become two important tools for the US to pressure China,» said Zhou Yueqiu, chief economist at ICBC. «We must stay on high alert to its possible containment.»
