Impact of Financial Sanctions on National Financial Security and Response
The world today is under-going profound changes of a kind unseen in a century,and countries around the globe are faced with new shocks concern-ing financial security,especially the chal-lenge of financial sanctions,which have increasingly become an important tool for Western powers in international political games.Financial sanctions are clearly targeted,characterized by the ability to strike precisely and inflict heavy damage on the financial security of sanctioned countries through such means as freezing or even confiscating assets,limiting access to international financing,and cutting offi international payment and settlement channels.Financial sanctions can cause direct impacts on financial institutions and financial markets.Another concern is the risk of contagion from the impaired real economy to the financial system.Special precaution should be taken to prevent financial sanctions from intertwining and resonating with traditional financial risks.Therefore,we must improve our prepared-ness by ensuring both development and security and ameliorating the counter sanctions,counter intervention,and counter long-arm jurisdiction mechanisms in the financial system.Only so can we respond to financial sanctions in a duly justified and well-grounded way.More-over,we must strengthen security capacity building in the financial sector to forestall the systemic financial risks caused by a combination of financial sanctions and traditional financial risks.At the same time,we should deepen the high-quality opening up of the financial sector and actively participate in global economic and financial governance,as part of effiorts to firmly safeguard China's financial security.
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