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China’s government economist warns US could impose sanctions on Chinese banks, seize bank assets

One of China’s top government-linked economist warns that the possibility can’t be ruled out that the US could not only sanction Chinese banks, but also seize overseas Chinese assets, and Beijing must be prepared for the worst scenario.

Yu Yongding, a former advisor to the People’s Bank of China and prominent economist with the Chinese Academy of Social Sciences, a leading government think tank, said on Wednesday that one possible scenario would be . . .

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