Recently, the U.S. Congressional Select Committee on Strategic Competition released a report listing many proposals for sanctions against China, and focused on how to impose sanctions on China in the economic and financial fields in the context of China's rise. The report asks the Fed to conduct a stress test of U.S. banks amid disruptions to Chinese markets and assess the impact of sanctions on Chinese financial firms on U.S. financial markets. In addition, the report calls on the United States to work with its allies to develop countermeasures that would impose severe diplomatic and economic costs on China when the mainland takes over Taiwan.
In the report, the committee also mentioned that they conducted two military pushes, simulating a mainland takeover scenario, one of which was supported by Wall Street. During the discussion, they raised the question of how to impose economic sanctions when the mainland takes over Taiwan while avoiding undue harm to the U.S. economy. To this end, the report requires the United States to establish a special office to assess the economic and financial ** chain caused by Chinese mainland's takeover, increase funds for export controls to China, and strengthen China's scientific and technological restrictions.
However, the attitude of people in the relevant fields in the United States is not optimistic about the idea of sanctions against China in the report. A think-tank official named Emily Kilcresse said that China, as the world's second largest economy, its size and connection with the global economy determine that if sanctions are imposed on China, it will trigger global **, and the United States will also be affected. In addition, a business consultant in charge of consulting U.S. companies on China issues said that business executives are concerned about how to transfer industrial chains in the event of a conflict between China and the United States.
The real problem facing the United States today is not how to play a zero-sum game and sabotage in a different way, but how much more and more its national power can afford the increasing number of zero-sum game measures. The lack of national power of the United States has left the United States in a difficult position, unable to withstand the appeals and so-called ambitions of various congressmen.
First of all, Russia is a striking example. Over the past two years, the United States has imposed various possible sanctions against Russia. However, without the interference of third parties, the Russian economy has reformed in a difficult situation, and this year's economic performance has even surpassed that of the EU countries. Therefore, we can imagine the consequences of comprehensive sanctions against China for the increasingly weakened United States and the West.
Second, Israel, as the fulcrum of US influence in the Middle East, has also become the most vulnerable link of US hegemony. The chaos in the Middle East limits the ability of the United States to act in other regions, and China has the ability to exert pressure on the American hegemony by not acting directly. Israel's role has made the United States more and more difficult on the Taiwan Strait issue, and these American politicians such as Gallagher still fantasize about using a zero-sum game to consume China's national strength, but they are accelerating the attrition and exhaustion of American national strength.
In general, the US sanctions package against China is closely related to the evolution of Sino-US relations. In view of the lack of national strength of the United States, the possible consequences of sanctions against China, and the international situation, the United States needs to carefully consider whether to continue to choose the zero-sum game route. On the contrary, it may be wiser and more advantageous to establish a win-win relationship. Genuine common development and long-term stability can be achieved only through equality and cooperation.