Recently, the United States announced sanctions against the Russia-Ukraine conflict and published a blacklist of more than 250 entities and individuals. The sanctioned entities come from a number of countries, including China, Turkey, and the United Arab Emirates, and the U.S. sanctions are justified on the belief that they have provided support for Russia's war operations. ChinaSpeakersMao NingOn December 13, China pointed out that China has always opposed unilateral sanctions and long-arm jurisdiction by the United States, and demanded that the United States immediately stop such actions. The Chinese side said it would take necessary measures to ensure the basic rights and interests of Chinese companies. InSino-US warAgainst the backdrop of escalating technology warfare, China has refined its arsenal of countermeasures, including foreign-appropriate regulations such as the Foreign Relations Act and the Foreign State Immunity Act, as well as export control orders for specific products (e.g., gallium, germanium, drones, cutting-edge graphite products, rare earth products). In addition, China and the United States have established a regular consultation mechanism for bilateral economic and financial working groups, as well as an export control notification mechanism, thus effectively preventing the economic relationship between China and the United States from getting out of control. On this basis, China has the ability to take reciprocal countermeasures against US unilateral sanctions. At the same time, the exchanges between China and Russia are not directed against any third party and are not subject to interference from third parties. Since the Ukraine crisis, the United States has continuously included Chinese companies on the sanctions list on the grounds of Russia-related issues, and this series of actions has forced Chinese companies to adjust their layout in finance, technology and markets.
U.S. financial sanctions have prompted China to speed up local currency settlements, reducing the share of the U.S. dollar and euro in China and Russia**. At present, the proportion of local currency settlement of economic and trade between China and Russia has exceeded 90%, which means that the US dollar has basically ceased to play an important role in the two countries. At the same time, China has also reached agreements with Saudi Arabia, the United Arab Emirates and other countriesCurrency swap agreementsto deepen financial ties with these countries and promote mutual investment. In addition, Serbia is in "The Belt and Road Initiative"During the meeting, a free trade agreement was signed with China and a RMB clearing bank arrangement was established. The more the U.S. financial sanctions are wielded, the more China accelerates the establishment of new financial settlement paths with other countries, thereby reducing the influence of the dollar in global settlements. This has also triggered a cycle in which the United States continues to self-destruct its global financial layout.
The current dominance of the United States in the field of science and technology stems from its presence inThe third scientific and technological revolutionadvantages. Through the patent rights mechanism, the United States establishedTechnical barriersand mastered the key core technologies. It is with this advantage that the United States has established its control over the global scientific and technological system. However, this control is not unshakable. toHuaweiChinese enterprises represented by China are committed to breakingTechnical barriersto promote China's independent scientific and technological research and development. The indiscriminate imposition of sanctions by the United States has forced enterprises from all over the world to accelerate the pace of independent research and development, especially Chinese companies, which have accelerated the process of domestic substitution of American technology. Thus, the sanctions actions of the United States actually playedChinese science and technologyThe role of a catalyst for innovation.
Since 2017, the United States has effectively imposed a market ban on Chinese companies through tariffs and other means. At present, the indiscriminate imposition of sanctions by the US has become a normal phenomenon, which has further damaged the existing economic and trade ties between China and the United States. However, China passed "The Belt and Road InitiativeThe initiative has successfully promoted the economic and trade system of many countries around the worldGlobalizationLayout. Despite the sanctions imposed by the United States, the economic and trade volume between China and Russia has continued to reach new highs. According toChina CustomsAccording to the data of the General Administration, from January to November this year, the scale of China and Russia reached 2181800 million US dollars, a year-on-year increase of 267%。According to this growth rate projection, it is expected that the scale of China and Russia is expected to reach 230 billion US dollars by the end of December this year, far exceeding the 200 billion US dollars target set by these two countries in 2024. At the same time, due to changes in the situation in the Middle East, the United States has not provided adequate assistance to Ukraine, and Zelensky's request for assistance during his visit to the United States was rejected by the US Congress. In the case of a shortage of funds, the Russian-Ukrainian battlefield may usher in a turning point. Thus, the U.S. sanctions on more than 250 entities have not restored their image in the global arena, but have hastened the end of the era of unilateral hegemony.
In summary, the U.S. sanctions on more than 250 entities and individuals have aroused strong dissatisfaction from China and has taken necessary countermeasures. China has improved its countermeasure arsenal, strengthened financial ties with other countries, and promoted independent scientific and technological research and developmentGlobalizationStrategies such as promoting China's economic and trade system have effectively responded to US sanctions. At the same time, inSino-US warIn the context of the scientific and technological war, the economic and trade cooperation between China and Russia has also been deepened, which is of positive significance in response to US sanctions. However, I personally believe that China should continue to strengthen independent scientific and technological innovation, strive to improve its core technological strength, and avoid relying on US technology. In addition, China should also strengthen economic and trade cooperation with other countries, promote the multilateralization of the global system, and make greater contributions to the stability and prosperity of the global economy.