China’s state media, including its most serious news outlets, the People’s Daily and China Daily, are amplifying Russian propaganda on the war in Ukraine, including anti-American and anti-North Atlantic Treaty Organization (NATO) narratives.
The Chinese Communist Party (CCP) has gone so far as to compare the situation to Taiwan and justify, in the nationalist tabloid Global Times, an invasion of that island democracy.
The CCP-controlled media in China labels Vladimir Putin’s invasion a “special military operation” to stop what Moscow’s disinformation calls a “genocide” of Russians in Ukraine and “NATO expansion” that supposedly threatens Russia and China. This propagandistic twisting of the truth whitewashes Putin’s bloody and unprovoked war against a sovereign state into something one might expect a doctor to perform.
Here the CCP’s disinformation is at its worst, given that Moscow has destroyed multiple hospitals in Ukraine, including children’s and maternity hospitals. Beijing is using its power of censorship to misuse its own tech companies, forcing them to scrub Chinese social media of attempts by regular Chinese citizens to provide alternative perspectives, including by drawing attention to the bombing of these hospitals, along with the destruction of schools and apartment buildings.
“In diplomatic statements and social-media discussions alike, Russia’s war on Ukraine is rationalized as a necessary step for resisting Western (and mainly U.S.) aggression,” wrote Maria Repnikova and Wendy Zhou in the Atlantic on March 11. “Chinese officials have never explicitly endorsed Russia’s invasion, but they have explained this conflict as reverberating from military escalation triggered by the United States.”
This is added to downward pressure on Chinese assets due to increasing coronavirus cases, a housing slump, rising commodity prices, and problems for companies seeking to sell shares in Hong Kong. Chinese assets are also negatively affected by a more generalized downward pressure from monetary tightening by the U.S. Federal Reserve, which will pull money out of non-U.S. government assets internationally, and into the safe harbor of U.S. treasuries.
Chinese companies listed offshore are under both pressure from the United States, which wants more accounting transparency to the point of that required of all other publicly-listed companies, and Beijing authorities, who ironically see their own tech companies, when listed abroad, as a national security threat.
Along with the China’s economic opening to Russia, while the rest of the world imposes economic sanctions, the promotion of Moscow’s propaganda by the CCP should make very clear to which powers the Party and its tech companies have thrown their support: to the dictatorial and bullying regimes globally that commit evil against regular citizens in Ukraine, Taiwan, China, Russia, Iran, Venezuela, North Korea, the United Arab Emirates, and beyond.
It is time for investors to pull out of China and its allies entirely, as their money is being used to fuel the propaganda and war machines of two of history’s worst dictators, Xi Jinping and Putin, and other lesser but allied dictators globally. Investment in these countries is increasingly bloody and a risk to democracies everywhere. It must stop.