Through these “bank pressure tests”, China wants to estimate its short-term losses if it provides material support to Russia during the war.
Concerns about Russian sanctions imposed by Western countries United States, China has chosen to be under its protection. For this, Beijing Now reads the application of a similar scenario to its economy.
According to Defender, Chinese officials have ordered the implementation of “bank pressure tests”. The exercises began when the United States and its allies began to block Russia.
From banking regulation to international trade, many Chinese government agencies have been asked to provide solutions West It imposed the same embargo on China.
“Those involved in this exercise are using how they view Russia as a criterion for China’s policy retaliation.
Tests to estimate short-term costs
Nevertheless, Beijing considers itself “more resilient” than it is Russia. “From Beijing’s point of view, if the US-led Western allies can take such action against Moscow, they can do the same with China.
To the researcher, these tests allow Beijing We need to understand “what would be the short-term cost to China if it financed Russia during this conflict?”
In fact, on April 22, Chinese finance ministry and central bank officials held a meeting with domestic and foreign banks, including HSBC, to discuss how US-style sanctions, led by the United States and its Western allies, could protect Chinese assets abroad. Imposed, according to a recent report Financial Times.
“Web aficionado. Lifelong music lover. Pop culture guru. Professional tv expert. Wannabe beer scholar. Hipster-friendly coffee nerd.”