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Masstown farmer launches pumpkins over a kilometre for charity | SaltWireBEIJING - In a war with the U.S. over Taiwan, China would need to create a global network of companies under U.S. sanctions, seize American assets within its borders, and issue gold-denominated bonds, according to Chinese government-affiliated researchers studying the Western response to Russia after its invasion of Ukraine.
Senior U.S. military officers have said that Chinese President Xi Jinping has ordered the People's Liberation Army to be prepared to invade Taiwan by 2027. Beijing has not ruled out using force to take the island, though it has never shared details about war preparations. The PBOC said in a statement that the research papers written by its employees represent their personal views. The central bank did not address questions about its sanctions planning.
Researchers have also formulated unconventional solutions to China's dependence on the U.S. dollar, partly inspired by Moscow's policies. Some of China's policies align with the papers' recommendations. Central bank data earlier in October showed the PBOC increased its official gold reserves for the 11th consecutive month.Besides financial sanctions, Russia's response to Western pressure on its oil, gas, metals, and chips industry has given food for thought to Chinese researchers.
Other researchers called for a new economic grouping that could protect China in a sanctions tit-for-tat. Yu, the former PBOC adviser, wrote in his 2022 paper that it was unlikely the U.S. would seize trillions of dollars or refuse to pay the principal and interest on Treasury bills China holds.
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