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In a war with the U.S. over Taiwan, China would need to create a global network of companies under U.S. sanctions, seize American assets within its borders, and issue gold-denominated bonds, according to Chinese government-affiliated researchers studying the Western response to Russia after its invasion of Ukraine . . .

. . . Sun Xiaotao, a CCIEE researcher, published an article in February that argues China should push for more gold-denominated trade to prevent major fluctuations of the yuan – echoing the Russian central bank’s decision to increase its gold reserves by one million ounces since the Ukraine war began.

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