An expert cautioned that Chinese President Xi Jinping could potentially launch an invasion of the self-governed island Taiwan, which China claims sovereignty over, by 2024.
What Happened: Kyle Bass, a prominent China hawk and founder of U.S. investment firm Hayman Capital Management, told CNBC Tuesday that Xi is determined to “bring war to the West.”
Bass suggests that the West, particularly Wall Street, is overlooking this possibility due to the perceived economic impracticality of such an attack.
According to Bass, Xi, like Russia’s President Vladimir Putin, is not solely focused on potential economic consequences. “If you listen to what [Xi] says, I believe he will end up acquiring, reacquiring Taiwan by force by the end of next year,” Bass said.
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“We on Wall Street love to think he would never do that because it doesn’t make economic sense. We have to stop thinking that way and literally start listening to what the man says,” he said.
“Xi Jinping is focused on the reacquisition. You can hear it in all of his speeches since 2017,” Bass said
According to him, signals of a forthcoming conflict are evident in China’s military drills around Taiwan, sweeping mainland changes in preparation for a potential war, and increased demand for marine fuel.
Why It Matters: The Chinese Communist Party has often reiterated that the issue with Taiwan is an internal affair. The dispute over Taiwan is a major global concern, with Beijing calling for reunification with Taiwan, which it views as part of its territory.
Former U.S. intelligence director and rear admiral Mike Studeman also warned of the potentially “devastating” consequences of China instigating conflict in the Taiwan Strait. He suggests that President Xi is underestimating the aftereffects and that such a conflict could lead to the downfall of the Communist Party.
Meanwhile, the Chinese state TV series recently showcased military readiness for a potential Taiwan attack. The “Zhu Meng” series is perceived as a clear signal from Xi of Beijing’s preparedness for a conflict.
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