• Sanctions against Russia are strictly monitored by Chinese companies, authorities and citizens
  • Chinese companies are preparing for the possibility of one day imposing similar sanctions on China
  • China is already much more self-sufficient towards Russia today, and the process will only continue
  • We publish the text as a courtesy protocol service
  • More news On Onet homepage

In addition, the US was able to impose sanctions so quickly in part because, as noted by US economist Martin Churzimba, it used its own evidence of actions against Huawei.

Chinese companies are closely monitoring the situation, and in some cases are quietly complying with the sanctions. Chinese tech companies, some of which have expanded their global operations to include Russia and Ukraine, remain mostly silent.

US Commerce Secretary Gina Raimondo has warned SMIC and other Chinese chip makers that they could face sanctions if they continue to sell their products to Russia. Two of China’s largest state-owned banks have halted funding for purchases of Russian goods, Bloomberg reported.

Alibaba, which has a joint venture in Russia with three companies that are subject to sanctions, did not say a word. Didi was forced by popular pressure to reverse her decision to withdraw from Russia. However, Chinese companies will not make their own decisions. They are likely to consult government officials first to remove any political risks, said a note from the Eurasia Group of Analysts.

China sees it may one day become a target of the same Western sanctions. Lists summarizing all Western sanctions and lists of companies withdrawing from Russia are circulating on Chinese social media, as people warn each other that China may soon become a target of sanctions.

See also  US House Intelligence Committee Chairman Adam Schiff on Russia's Invasion of Ukraine: Very Likely

Chris Miller, professor of international history at Tufts University, says in an interview with Protocol.

On the other hand, China can also learn from anti-Russian sanctions and may incorporate some of these sanctions into its own arsenal of coercive measures, adds Evan Feigenbaum, vice president of the Carnegie Endowment for Research in the United States.

But creating a sanctions alliance against China will be much more difficult. China is much more important than Russia for the global economy, and that would make the United States and multinationals think twice. According to MarketWatch, only 1.4 percent. Apple’s global revenue comes from Russia, but up to 19 percent. – from China. Is Apple willing to allow 19 per cent. His earnings disappeared in one day?

China also has its own legal tools to fight sanctions. The Foreign Penal Code, in effect since June 2021, allows the Chinese government to punish foreign entities and individuals that impose sanctions on China.

With years of deliberately building self-sufficiency, China will be in a better position than Russia to deal with a shortage of Western technological products. Since the regulation of the Chinese Internet led to Google’s exit in 2010, the country’s tech giants have emerged to replace all major Western technology platforms, software, and hardware.

China has been running on self-sufficiency since the scandal over revelations about the scope of US intelligence surveillance by Edward Snowden forced the Chinese government and companies to recall hardware and software made in America. Of course, there are still areas in the Chinese economy in which Western companies are largely dominated, such as computer and mobile operating systems, high-end semiconductor production, but it can be assumed that after the sanctions against Russia, China will be motivated. To increase investment in these areas.

See also  Belarus: EU and US import bans in response to sanctions