Taiwan will pay for Pelosi's visit: China has imposed sanctions against the island's economy
China has restricted its trade with Taiwan.
This was reported by the Aljazeera channel, which published an extract from the statement of the Ministry of Commerce of the People's Republic of China.
The Chinese authorities took measures “in accordance with the current regulations,” the department says.
Thus, the Chinese stopped exporting natural sand, the main material used in construction. Imports of Taiwanese citrus fruits and some fish are also limited.
In turn, China's Taiwan Affairs Office separately announced that it would prohibit mainland Chinese companies and individuals from engaging in financial transactions with two Taiwan-based foundations, the Taiwan Foundation for Democracy and the Taiwan Foundation for International Cooperation and Development.
As Aljazeera notes, the restrictions came after China's Customs Administration notified on August 1 that it had blacklisted more than 100 Taiwanese food brands for failing to renew their export registrations.
Wu Shou-Mei, director general of the Taiwan Food and Drug Administration, said the moves could be politically motivated because Taiwanese manufacturers are treated differently in Beijing than manufacturers from other countries.
Alicia Garcia-Herrero, chief Asia-Pacific economist at Natixis in Hong Kong, said the suspension of fruit and fish imports would have little impact on Taiwan's economy, but the halt in sand exports could have a significant impact as construction has become an important source of economic growth during the pandemic.
Sanctions against Taiwan will take effect on August 3, 2022.
China also reportedly announced flight restrictions in six areas around Taiwan from 7.00 a.m. Thursday to 7.00 a.m. Sunday Moscow time due to planned PLA exercises there.
“In general, we can expect that China's main response will be on the economic plane. Well, in general, it is obvious that current events have brought the future war for Taiwan closer,” says Ukrainian political scientist Vasily Stoyakin.
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