JUST IN: China JUST STRUCK Back Against Western Sanctions | Hits Back With A Massive Blow

JUST IN: China JUST STRUCK Back Against Western Sanctions | Hits Back With A Massive Blow

#economy #trade #crisis

In a world where economic giants collide, tensions rise as the United States and China face off in a high-stakes battle of sanctions and countermeasures. With some measures impacting hundreds of Chinese individuals and entities, the strain on relations between these powerful nations has reached a boiling point.

But beyond just tough words, China responded with strategic moves to limit the damage. From the global supply chain to the battle for technological dominance, the stakes couldn't be higher. Let's discuss the sanctions and explore their far-reaching consequences.

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As you may have heard, there was this meeting between the U.S. Treasury Secretary, Janet Yellen, and Chinese officials in Beijing. And China released a statement afterward, demanding some "practical action" on the whole sanctions issue.

The U.S. has been putting sanctions on lots of Chinese folks and businesses for a while now, and it's been messing up their relationship big time. Then, in May 2023, things got a bit testy when the Chinese Defense Minister, Li Shangfu, refused to meet his American counterpart because of sanctions.

It is clear these economic measures are hurting China, and they're not just sitting around taking it. They've come up with their countermeasures to fight back. Now experts are diving deep into the whole mess, studying how the U.S. is slapping sanctions on China and how China is trying to fight back.

And, you know what? They are even checking if China's countermeasures are doing the trick.
But what were the sanctions that were put on these Chinese companies and individual businesses?

You won't believe what's happening with those US sanctions on Chinese companies. China's Ministry of Commerce is all fired up about it, saying it's gonna mess up the global supply chain. They're super unhappy with the US for adding 12 Chinese businesses to their export-control list.

And get this, the US did it all on its own, without any support from the United Nations. So, these Chinese companies got slapped on what's called the Entity List, like some kind of export blacklist.

It means they can only do business with the US if Washington gives them the green light.
And you know why they ended up on that list? 'Cause they were accused of supporting Russia's military and defense stuff. Yikes!

But wait, it's not just China getting caught in the crossfire. The US also added firms from Russia, Singapore, Spain, Syria, Turkey, the United Arab Emirates, and Uzbekistan to their list.
Back in February, the White House even warned that more companies from Russia, China, and others would be added to this list for sneaking around bans on military stuff to places like Russia.

Then, in March, the US got serious and put sanctions on five Chinese companies and one person. Their crime? Supposedly supplying aerospace components to an Iranian drone maker, and guess where those drones ended up? Yup, Russia, is being used in advancements on oil tankers.

You won't believe how countries use these things called economic sanctions to influence other countries behavior. It's like a way to slap them on the wrist for doing stuff they don't like. And China has faced its fair share of these sanctions for all sorts of reasons, like human rights issues, espionage, and supporting Russia in Ukraine.

The idea is that if you've got enough economic power, you can make the other country feel the heat and change their ways. But here's the twist: these sanctions don't just hurt China; they also cause some trouble back home in the U.S. Talk about a double-edged sword.

Sometimes these sanctions can even benefit other countries, like when they replace Chinese suppliers with ones from different places. It's like a trade diversion. But wait, there's more. Sanctions can be primary or secondary.

With primary, the U.S. is like, "Nope, no more imports from you!" And they also tell all their companies to stay away from the country. Secondary sanctions go even further, where they cut ties with any company that's doing business with the country or even with companies that deal with other companies that deal with the country.

And get this, there's a hit list of Chinese folks and businesses that the U.S. says, not to mess with.Their assets get blocked, and U.S. citizens can't deal with them. There are tons of Chinese names on that list, even some big-shot corporations!
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