'China has a lot more to lose': U.S. considering sanctioning Chinese firms aiding Russia's war

[BumRushDaShow]

Source: CNBC

Published Mon, Feb 19 2024 7:09 AM EST


Munich, GERMANY — The U.S. is considering slapping sanctions on Chinese companies it believes are helping Russia fuel its war in Ukraine, members of Congress told CNBC, marking the first direct apportioning of blame toward Beijing since the start of the war.

Democratic Senator Gerald Connolly, member of the U.S. House Committee on Foreign Relations, on Saturday said that lawmakers were already considering such plans after similar measures were proposed last week by the European Union.

The provisions would mark the first direct penalties against Beijing despite long-held Western suspicions over its support for Russia’s military operations.

“China has to understand that the same kinds of sanctions which are beginning to really take hold in Russia and are affecting Russian productivity, economic performance and quality of life, can also be applied to China,” he told CNBC’s Silvia Amaro on Saturday at the Munich Security Conference. “And frankly, China has a lot more to lose than Russia.”

Read more: https://www.cnbc.com/2024/02/19/china-has-a-lot-more-to-lose-us-considering-sanctioning-chinese-firms-aiding-russias-war.html

[Irish_Dem]

1. This will certainly get China's attention.

The Chinese economy is already in serious trouble. Sanctions will hurt.

[cstanleytech]

2. Trouble doesn't begin to describe it as varies companies have slowly been transitioning away from relying on

China for goods and services so this on top of that will do more than hurt China.

[Irish_Dem]

3. Yes international businesses are pulling out of china or doing much less business with them.

The Chinese housing crisis, the Chinese urban municipality crisis, the death trap crisis, etc etc.

Chinese government is clueless about running a modern economy.