New Delhi: Since late 2019, China has been in the eye of storm over outbreak from deadly Coronavirus from its Wuhan province and its subsequent spread & colossal devastation across the world. Till today, the moot question remains – whether Covid-19 virus (SARS-Cov-2) was – a mere animal-to-man transfer or man-made.
Chinese have repeatedly denied its origin in its Wuhan Institute of Virology but scientists across the world are increasingly getting suspicious of its intentions and believe it was leaked from Chinese lab. China’s theory of virus emanating from wet animal markets in Wuhan (located near the lab) doesn’t cut any ice with them.
The dragon finds itself in global crosshairs, not just because of Coronavirus but also because of its ‘increasing nature’ of dictatorial regime and its numerous attempt to defy the world order.
China has passed an anti-foreign sanctions law, under which those businesses/firms not adhering to its regulations, will face consequences & penalties. The law came as a tit-for-tat retaliatory measure against punitive actions taken by foreign nations over issues from human rights to Hong Kong but the move is enough to send chill through the business community.
Former US president Donald Trump prohibited Americans from buying stakes in 31 Chinese companies that were deemed to be supplying or supporting China’s military and security apparatus. New US President Joe Biden expanded this blacklist to 59.
Who will become target & what happens to blacklisted
According to Chinese law available in public domain, individuals/entities/organizations involved in implementation of any discriminatory measures against Chinese citizens or interfering with China’s internal affairs could be put on the black list.
Blacklisted individuals could find their relatives, and the organisations of which they are senior managers or have control over placed on the list. And, the Chinese govt officials will have the prerogative to decide – who is on & off the list.
According to Reuters report, those blacklisted could be even deported from China or denied entry into mainland and their assets could also be seized or frozen. Foreign firms operating in China could face restrictions, put on black list and then sanctions imposed against them.
Previously, China has also announced sanctions against individuals including Western politicians and scholars.
Businesses spooked over China’s ‘blacklist’ law
Amid the ongoing trade sanctions between US & Europe and China, it’s the global businesses that will bear the maximum brunt.
Organizations with a foot in both US and China will have to make a tough choice going ahead. It they comply with American sanctions on China, they face the possibility of tough sanctions in China as a penalty for doing so. Also, their property in China may be seized and any commercial transaction they attempt with a Chinese institution can be blocked.
China, being a dictatorial regime with little regard for human rights, may impose its anti-foreign sanctions legislation. This has already sent a chill through the business community.
This week, China also passed a new data security law that places stricter limits on data generated within China and how it can be transferred out of the country.
China’s expansionist designs hasn’t just alienated its territorial neighbours including India but also other prompted other super powers to send it a strong message. New Zealand and Australia, too, have spoken against its dictatorial attitude for trying to alter the world order. Formation of Quad is one such step in this direction to rein in the dragon and more such alliance should follow in future.