Recently, the United States announced a new sanctions list, adding more than 250 entities and individuals to the sanctions list. These entities come from several countries such as China, Turkey, and the United Arab Emirates. The justification for U.S. sanctions is that these entities have expressed support for Russia's war operations. China firmly opposes the unilateral sanctions and long-arm jurisdiction of the United States, and demands that the United States immediately stop such actions. The Chinese side also said it would take necessary measures to protect the basic rights and interests of Chinese companies.
In the context of the deepening Sino-US war and technological war, China has established a complete countermeasure tool. These tools include foreign relations laws, foreign state immunity laws, and export controls on a number of key products. In addition, China has strengthened its ties with other countries in the areas of financial settlement and cooperation. China has signed currency swap agreements with Saudi Arabia and the United Arab Emirates, deepening cooperation with these countries in the financial field. At the same time, China has also signed a free trade agreement with Serbia and established the first RMB clearing bank in Serbia, further promoting the process of RMB internationalization.
U.S. sanctions have forced China to establish new financial settlement paths with other countries, reducing the global share of the dollar. This move will limit the layout of the United States in the global financial field. In addition, U.S. sanctions have also prompted companies around the world to accelerate the pace of independent research and development, and accelerate the process of substituting U.S. technology. At the same time, China has promoted economic globalization through the Belt and Road Initiative, which has continuously expanded the scale of Sino-Russian economic and trade relations.
To sum up, the US sanctions have not achieved the desired effect, but have hastened the end of the era of unilateral hegemony. By actively building a global economic and trade system and deepening economic ties with other countries, China has achieved positive results in the fields of finance, science and technology, and markets. Next, let's take a closer look at these aspects.
1. Financial sanctions cannot affect China and Russia**
U.S. financial sanctions have almost no impact on China and Russia. In the Sino-Russian economic and trade trade, the proportion of local currency settlement has exceeded 90%. This means that the share of the US dollar and the euro in China and Russia** has been significantly reduced. Therefore, no matter how the United States imposes financial sanctions, it can no longer affect the exchanges between China and Russia through this means.
2. China deepens its financial ties with other countries
In response to U.S. sanctions, China has strengthened ties with other countries in terms of financial cooperation and cooperation. China has signed currency swap agreements with Saudi Arabia and the United Arab Emirates, further promoting financial exchanges between the two countries. In addition, China has signed a free trade agreement with Serbia and established the first RMB clearing bank in Serbia. These cooperation initiatives will help China deepen its financial ties with the rest of the world and reduce its dependence on the US dollar.
3. Reduce the proportion of the US dollar in global settlements
On the contrary, the financial sanctions of the United States have accelerated the decline in global dependence on the dollar. China has actively promoted local currency settlements with other countries, reducing the share of the dollar in global settlements. This trend will have an important impact on the global financial layout of the United States and weaken the dominant position of the United States in the global financial field.
1. Chinese enterprises accelerate independent research and development
U.S. sanctions have forced Chinese companies to accelerate the pace of independent R&D, especially in key areas. Chinese companies, such as Huawei, are working to build their own technology systems to reduce their dependence on key U.S. technologies. Through independent R&D and innovation, Chinese enterprises are promoting the iterative upgrading of China's science and technology, which has fundamentally changed China's position in the global technology field.
2. The domestic substitution of technology is accelerated
The indiscriminate sanctions imposed by the United States have not only promoted the independent research and development of Chinese companies, but also promoted the process of substituting American technology by companies from other countries. Countries have realized the dependence and risks of American technology, and have stepped up their independent research and development efforts. This not only accelerates the marginalization of the United States in the global science and technology system, but also creates new opportunities for the reconstruction of the global science and technology landscape.
1. The Belt and Road Initiative promotes the economic and trade growth of China and Russia
China's promotion of economic globalization through the Belt and Road Initiative has not only enabled the expansion of China's economic and trade scale with neighboring countries, but also promoted the growth of China-Russia economic and trade volume. According to the data of the General Administration of Customs of China, from January to November this year, the bilateral amount between China and Russia reached 2,181800 million US dollars, a year-on-year increase of 267%。It is expected that by the end of this year, the amount of China and Russia will exceed 230 billion US dollars, far exceeding the previously set target of 200 billion US dollars in 2024.
2. The global layout of China's economy
In the face of U.S. sanctions and market ban policies, China has closely connected China with the rest of the world through the active development of the "Belt and Road" initiative, through multilateral mechanisms and the construction of free zones. As a result, China's economic global layout has been increasingly improved, and its economic strength has been further enhanced.
The large number of entities and individuals on the sanctions list by the United States in imposing sanctions on the Russia-Ukraine conflict shows the growing trend of unilateral sanctions and long-arm jurisdiction by the United States. However, this behavior is largely a manifestation of self-limitation and fails to achieve the desired effect.
China has effectively responded to U.S. sanctions by actively building a global economic and trade system and strengthening economic ties with other countries. China has strengthened local currency settlement in the financial sector and reduced its dependence on the US dollarIncrease independent research and development in the field of science and technology, and promote domestic substitution of technology;Promoting global economic and trade cooperation in the market field has further strengthened Sino-Russian economic and trade relations.
In general, the sanctions imposed by the United States hastened the end of the era of unilateral hegemony to a certain extent. China has achieved positive results by actively building a global economic and trade system, promoting local currency settlement, accelerating the pace of independent scientific and technological research and development, and strengthening economic ties with other countries. At the same time, in the face of the Russia-Ukraine conflict and the changes in the Middle East, the United States is unable to continue to fuel the conflict due to insufficient funds, and its sanctions have gradually exhausted its national strength. Therefore, the US sanctions not only did not have a respectful effect on China and Russia, but also accelerated the end of the period of unilateral hegemony.