Box B: How Geopolitics Shapes Chinese Economic Policy: An Introduction to 'Asymmetric Decoupling'

David Lubin

National Institute Global Economic Outlook, 2024, issue 14, 36-39

Abstract: Imagine a meeting of the Politburo of the Chinese Communist Party (CCP) sometime in March 2022, just following Russia's invasion of Ukraine. Essentially every country that prints a reserve currency had just sanctioned the Central Bank of Russia, with the result that Russia lost access to hundreds of billions of dollars' worth of its foreign exchange assets.

Date: 2024
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