WINGTECH(SH:600745) Sou Hu Cai Jing·2025-10-27 07:19Core Viewpoint - The letter from Anshi China signifies a strong stance against external control, particularly targeting the dominance of the US dollar in global trade, and highlights a strategic shift in operations and financial practices to assert independence and resilience against external pressures [1][11][24]. Group 1: Company Actions and Responses - Anshi China issued a public letter declaring its independence from Dutch headquarters, emphasizing that it will operate under Chinese laws and manage its own payroll and business operations [11][13]. - The company replaced its European ERP system with domestic software and shifted its supply chain partnerships from European firms to local Chinese companies, indicating a significant operational realignment [15][22]. - Anshi China transitioned to using the Chinese yuan for all domestic transactions, effectively severing ties with the SWIFT system and asserting financial sovereignty [24][27]. Group 2: Impact on Global Trade and Financial Systems - The actions taken by Anshi China challenge the existing dollar-centric global trade framework, suggesting a trend towards de-dollarization and increased use of local currencies in international transactions [19][52]. - The operational resilience of Anshi China's Dongguan facility, which maintained a high order delivery rate despite external pressures, underscores the critical role of Chinese manufacturing in the global supply chain [17][29]. - The situation has prompted European companies, particularly in the automotive sector, to reassess their reliance on Dutch operations, revealing vulnerabilities in the supply chain that could lead to production disruptions [31][37]. Group 3: Broader Implications for Europe and the US - The incident illustrates the growing awareness in Europe of the risks associated with over-reliance on the US dollar and the need for a diversified payment system to mitigate potential disruptions [33][60]. - The Dutch government's actions, perceived as being under US pressure, have led to a backlash from local industries, highlighting the tension between national interests and external political influences [9][35]. - The event serves as a wake-up call for European policymakers to reconsider their strategies towards China, emphasizing the importance of mutual respect and adherence to contractual obligations in international business [62][68].