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Why did Xi Jinping make a sudden decision to accelerate the decoupling of China and the United States? | Xi Jinping | Sino-American decoupling | US-China relations | Chinese state-owned enterprises | CCP

Why did Xi Jinping make a sudden decision to accelerate the decoupling of China and the United States?  |  Xi Jinping |  Sino-American decoupling |  US-China relations |  Chinese state-owned enterprises |  CCP

 


[Voice of Hope, August 13, 2022](Full report by our reporter Han Mei)

Amid strained US-China relations, on August 12, five Chinese state-owned companies suddenly announced their delisting from the New York Stock Exchange. What is the purpose behind Xi Jinping’s heavy-handed move is worth looking into.

The five Chinese state-owned companies are PetroChina, China Life Insurance, Sinopec, Aluminum Corporation of China and Shanghai Petrochemical Corporation. Five companies have separately announced that they will seek the delisting of US Depository Shares from the New York Stock Exchange this month. Among them, delisting announcements from PetroChina, China Life and Sinopec have similar language and were published within 30 minutes. After the delisting, the five companies will continue to be traded on stock exchanges in Hong Kong and mainland China.

In May, the five companies were flagged by US securities regulators as failing to meet the regulator’s auditing standards. Washington has demanded full audit transcripts from Chinese companies listed in the United States, but China, citing national security concerns, has barred foreign agencies from inspecting audit documents from Chinese accounting firms.

However, observers generally believe that the delisting of these five state-owned companies is not limited to audit considerations, which means that China and the United States have begun to decouple in the financial field.

Commentator Yokogawa analyzed on the show that this write-off is a big state-owned enterprise. Although it is said to be the decision of the company itself, it should reflect the intention of the CCP. Decoupling from the United States and reducing the influence of the United States on the Chinese economy may be a trend in the future.

“Light Media” believes that this is a major signal, showing the direction of China-US relations and China’s future, the CCP’s 40-year reform and opening-up line is over, and the Sino-American policy of “fight but not break” has failed. “Light Media” raised two questions in this regard: is it possible for China and the United States to break off diplomatic relations? Will the United States restore diplomatic relations with Taiwan?

In the media, Ma Ju offered: Xi Jinping reflected on how Chinese companies, under the control of American and Western capital, can prevent the seizure of hundreds of billions of dollars at critical times as companies and capital Russians. These five The delisting of state-owned enterprises is the CCP’s response. It took the initiative to initiate decoupling with the United States. More importantly, why is Xi Jinping keen to guard against Western sanctions? What will he do? Attacking Taiwan is a possibility.

Japanese newspaper Kyodo News quoted a source on the 12th as saying that during the CCP’s military exercise against Taiwan, Xi Jinping personally ordered five missiles to be fired into Japan’s exclusive economic zone.

The report said the Chinese military submitted two military exercise plans to Xi, one covering Japan’s exclusive economic zone and the other avoiding relevant waters to avoid damaging China-Japan relations. Xi Jinping ultimately chose the plan to cover Japan’s economic zone, one of the goals being to warn the Japanese government not to interfere in the Taiwan Strait issue.

However, if Kyodo News’ revelations are true, it is obvious that Xi Jinping’s decision will make the situation worse. There may be a consideration behind Beijing’s problems for itself, that is, when the 20th National Congress encounters re-election resistance, it seeks foreign military conflicts.

Regardless of whether the CCP will use force against Taiwan, delisting the five major state-owned enterprises is at least seen as another step in the CCP’s move toward isolation. Locking down the country is seen as the option that best guarantees Xi Jinping’s re-election and protects the CCP regime.

Yan Chungou, a veteran Hong Kong columnist, said in an article in September last year that the CCP quickly turned to the left and returned to the land of closed doors during the Mao Zedong era. This is a major strategic shift based on anticipating the internal and external situation. There is internal instability. Only by fully withdrawing and sticking to it can we have a chance to “survive”. Therefore, this major strategic change cannot be considered Xi Jinping’s personal impulse. This is the consensus of senior party leaders.

The founder of InsightFan.com posted on Facebook in August last year, titled “There is no madness, China is just entering a ‘war economy’. In terms of categories, cognition in Xi Jinping’s mind should be this: A small North Korea, supported by me, can live in the world for 70 years with the support of a few indiscriminate nuclear weapons. is not hard to imagine for another 100 years, not to mention that the American order is now full of flaws.

Editor-in-Chief: Zhang Lili

This article or program was edited and produced by Voice of Hope. Please credit Voice of Hope and include original title and link when reprinting.

Sources

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