China’s ramped up sanctions on South Korea’s economy indicate the need for the South Korea and other neighboring countries to get serious about countering Chinese economic warfare.
Over the past decades China has increasingly used its economic might as a cudgel for politics. In order to counter this trend, Korea should improve trade relations with its allies and formulate policies aimed at lessening the pressure China is able to exert.
China’s attacks on South Korea’s tourism and entertainment industries reflect a pattern that has become familiar when a neighboring country or special administrative region takes actions China finds aggressive. With the size of its GDP and population, China has a few strategies it often turns to to informally sanction those countries it deems out of line. It can deny access to its market for a country’s important exports, as it did to the Philippine banana industry in 2012 and 2016 following flare ups over the Scarborough Shoals.
Read full article: Solutions to counter Chinese economic warfare