China should make its own financial markets big enough and open enough to foil any attempt by the United States to decouple financially, according to a semi-official Chinese research group, reported the South China Morning Post.
The tactics suggested in a report released on Sunday by the China Finance 40 Forum (CF40), a think tank comprising senior Chinese regulatory officials and financial experts, comes amid worries that the United States will expand the conflict between the world’s two largest economies beyond the trade war and efforts to restrain China’s technological development in the name of national security.
“[We] must firmly oppose and properly handle the United States’ long-arm jurisdiction [of applying US law outside its borders] and financial sanctions, and in the meantime make contingency plans against extreme conditions,” according to a report excerpt released on the group’s social media account.
The just-released report highlights the latest efforts by Beijing to keep bilateral relations from deteriorating further in the run-up to the US presidential election on November 3.
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