Asia

CHINA: Rules to counteract foreign sanctions are mostly symbolic

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New Commerce Ministry rules allow regulators to prohibit the application of foreign sanctions inside China. But Beijing will remain reluctant to scapegoat foreign business in retaliation for government action, given the desire to resist supply-chain decoupling. The rules enlarge Beijing’s toolkit for economic coercion but do not signal a change in the basic calculus that has guided its response to foreign sanctions until now. China’s Ministry of Commerce (Mofcom) issued rules on 9 January to block the extraterritorial application of foreign economic sanctions against Chine
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