Ukraine invasion: China’s global economic ambitions face turbulence over stance on Russian aggression
- As the invasion continues, Beijing’s ability to distance itself from the dispute is becoming harder, potentially damaging its economic ambitions
- China could face secondary sanctions or at the very least ‘reputational costs’ due to the perception it is helping prop up the Russian economy
China’s refusal to condemn the Russian invasion of Ukraine leaves it in a “lose-lose situation” that will hamper its ambition to expand its economic influence globally, experts say.
“China is in a lose-lose situation with respect to Ukraine,” said Elizabeth Wishnick, a senior research scientist at CNA, a US-based non-profit research and analysis organisation. “If a Russian puppet state results from this conflict, Chinese companies will face sanctions and there will be self-imposed limits to business activity and intergovernmental ties, as in Crimea.”
“If Ukraine retains its autonomy and sovereignty, China will face reputational costs due to the widespread perception in the US and Europe that the Chinese government has been an enabler, if not a supporter, of Russian aggression.”
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