Is China preparing to invade Taiwan? Beijing looks to shore up assets including $5tn in foreign reserves and ask banks for ways to shield them from Russia-like sanctions in event of 'regional military conflict'
The West's harsh economic sanctions on Russia prompted an emergency meeting in China, with the Ministry of Finance stating that Xi's administration had been put on alert by the surprise dollar freeze. The US is thought to be considering proportionate sanctions on China in the event it invades Taiwan, envisioning a similar scenario to the one playing out in Ukraine.