China is preparing its economy for that situation. It’s been the emphasis of the last five years. That’s the point of dual circulation
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It think you overestimate both the world’s diligence in standing up to tyranny as well as underestimate Chinas totally A~OK attitude about being tyrants to their own people.
I wouldnt underestimate a Chinese face saving ego necessity they have sold the world for many decades. I would listen to them and prepare accordingly for the threat of war.
China can’t ever have a closed loop economy. I’m not sure why you would think they can. Their population would be reduced to abject poverty within 10 years. They are completely reliant on imports. Even for food.
Not only that there is the issue of massive amounts of foreign debt racked up by provincial governments. It wouldn’t matter how much the central government manipulated the RMB because there would be consequences for these defaults.
In order for them to achieve what you are talking about they would need to pay off over $20 trillion (US $) in debt. With some economists stating it is much closer to $40 trillion. Their whole economic advance has been debt based. And it is now collapsing.
Beyond that, countries where China has invested could force the sale of those investments or shut down the operations of companies within their borders causing Rutherford economic pain.
You didn’t say dual circulation. You said closed loop.
The rmb is a closed loop.
You keep missing the point
Dual circulation is also a bit of a joke. Innovation? Reducing independence? Focusing on the domestic market? While remaining open to the outside world.
Yeah I can see that happening under Xi Jinping’s reign*.
- insert sarcasm alert
I’m not missing any point. The rmb is not a closed loop. It’s a government controlled currency that isn’t floated on the world market. That doesn’t mean the rest of the world can’t devalue the rmb. They just make it worthless. Junk bond status.
The rest of the world are BRI countries and allied countries. China wants to be able to have full supply chains for all key technologies and be reliant on domestic consumption and trade with key partners. It wants to eliminate the influence that the US can have on its economy, especially in case of a conflict
They don’t. Enigma solved.
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Last time you said that I googled it and found nothing. Since you are repeating this claim, can you back it up?
Xi and his family own all the Mercedes dealerships as well as all the Rolex watch shops. There are other things. I’m not surprised you can’t find anything on google. Like I said last time. You can read the Panama Papers for yourself. You can find more in the Pandora and Paradise Papers leaks. They also expose Putin’s hidden offshore assets that allowed sanctions to kick in as quickly as they did. Foreign governments have also used those leaks to freeze or seize assets of individuals within their borders. With several hundred Chinese in that group.
Last time i didn’t bother to ask, i googled
Since you repeated, I asked
You can’t back it up, ok
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The rest of the world are not BRI economies. There are some countries that signed up. Some countries that ended up indebted to China through debt trap diplomacy. And other countries that were needed for some overland routes that allows China to lease land (which ended up backfiring on them anyway).
As I’ve already stated. China is completely and totally reliant on imports for their economy to function. All that needs to happen is a group of countries block exports to China and China’s economy would collapse. Within weeks.
You can read the papers for yourself. Have a good time with it.
panama papers xi jinping mercedes; not in the top results, probably you’ve made a mistake somewhere. Feel free to back it up
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I didn’t say that they are…
Chinas ‘rest of the world’ in dual circulation model are BRI and allied countries
That’s not even slightly true
Actions speak louder than words 
Write a list of all the raw resources that China needs to import in order to keep their economy moving.
You have your answer. China cannot survive without imports.