Beijing will focus on courting G20 nations to join its financial networks to circumvent Western sanctions in a potential Taiwan conflict, while the US and G7 will pressure these nations to comply with critical supply-chain restrictions against the mainland.
Advertisement
A new report studying G20 responses in a Taiwan crisis found that Beijing would have limited interest in using punitive economic statecraft against these countries, while the US and G7 nations would be likely to ask them to comply with sanctions.
Compiled by the US-based think tanks the Atlantic Council and Rhodium Group, the report was released a week before a high-stakes G20 annual meeting in Brazil that Chinese President Xi Jinping and his US counterpart Joe Biden are slated to join.
This year’s G20, opening on Monday, is believed to be the last multilateral event that Xi and Biden will both attend.
It takes place amid considerable uncertainty over the future of Sino-American relations under US President-elect Donald Trump, who launched a trade war with China in 2018 as the American leader.
US President Joe Biden promises ‘peaceful and orderly’ transfer of power to Donald Trump
The joint Xi-Biden appearance would come days after the two meet during the Asia-Pacific Economic Cooperation summit in Lima, Peru, in a face-to-face dialogue that the White House on Wednesday said would take place on Saturday.