578
Russian banks say they've run out of yuan as Chinese firms pull away from the nation
(markets.businessinsider.com)
Sanctions work.
this post was submitted on 07 Sep 2024
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This is what frustrates me so much about people in the US arguing against supporting Ukraine. At the end of the day, while China might be willing to help Russia, the US is by far it's largest customer. Add to that China's own economy is contracting, and supporting Ukraine against Putin, along with the severe sanctions that have been in place, is the smartest most cost effective way of hopefully removing him from power. I have a co-worker who got out of Russia a little over a year ago, and he said it was pretty bad before he and his family left. Unfortunately, it's a slow process because the goal is to get the Russian people to oust him. We all know that's not going to happen at the ballot box, so all that's left is the people overthrowing their leaders. Things have to get pretty dire before a population like Russia's gets to that tipping point.
This is a marathon. The main thing is keeping Ukraine strong and able to defend itself. I'm really liking the offensives into Russian territory they've been carrying out. I just want them to remember a defensive position is easier to maintain/win than an offensive one. In other words, don't try to go to far into Russia. Way way too many great generals have made that mistake!
US is by far it’s largest customer
That's true and there's also more to it.
The US is China's largest single trading partner but China has many many trading partners.
May nations now trade or at least negotiate in blocks. Both ASEAN and the UE, as blocks, do more trade with China than the US does. When it comes to individual nations the US isn't as far ahead as it might seem. Russia, Vietnam and Taiwan together trade more with China than the US does, despite having a combined GDP that's a tiny fraction of the US.
The key issue is that China has been working really hard to make itself less dependent on the US. They still have a way to go but they're much less vulnerable than they were a few years ago.
Fair points, but I would also add that while the US isn’t a block, they do hold sway with a number of other countries. NATO is also involved in this equation. China also has significant investments in the US. I don’t fault China for seeing economic opportunity in Russia, but they have to walk a pretty fine line if they’re going to make it work.
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They'd be better off if they weren't actively committing genocide. Weird how we don't hear about it though. Disgusting.
Not fast enough. I agree they work, but often times it hurts all the people, and the ones that have "say" often are slow to help their fellow people.
You can't avoid that in a dictatorship or oligarchy. You freeze all of their money? They will just steal more from the population.
Like a constrictor, squeezing everywhere, untill you can't breathe.
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I guess the financial market is being reduced to ruble
Maybe they shouldn't have invaded Ukraine.
the question is if they could still pull out of the war
Putin’s fragile ego won’t allow that.
Ukraine doesn't have the resources to start some weird revenge conquest, given that their allies fear MAD.
Hot take:
China has lost all faith in Russia. Is reorganizing to reflect that.
And maybe is even considering Taiwan's advice, lol.
What's "Taiwan's advice"? What did Taiwan tell China about Russia?
Taiwan made a sarcastic comment.
Essentially calling out their policy of "Territorial Integrity", they told them to take back land they gave to Russia
Ohhh that one. I see. Thanks.
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The president or prime minister said that if China is serious about reclaiming Taiwan, it should also reclaim land that is currently Russian, as that land was also lost during the same time period.
It would also be much easier to conquer than Taiwan.
Hotter take:
China is on the brink of financial collapse and no longer can afford to support Russia’s bullshit.
Wow, that's too bad. Anyway make sure you've got plenty of Rubles in your bathroom for when they make TP the national currency, bub.
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I hope Ukraine takes away their natural gas production next. Gonna be the USSU pretty soon, get fucked Putin.
Well... India is still a partner so Putin still has that...
India is taking advantage of the situation.
It's understandable that a developing country wants cheap energy, also genuinely sad the world's largest democracy is funding a dictator's barbaric land grab.
"world's largest democracy" run by a fascist, who embraces pogroms against the Muslim minorities and assists Israel in its genocide against palestinians, including sending India troops there.
Of course Israel is best buddies with Modi in the same way they sold drones to Russia after the Crimea annexation, which later helped Russia bomb Ukraine during the main invasion. Neither country is a liberal democracy, nor do they share interests with "the West" past their own immediate advantage.
India is financially supporting colonization of Ukraine by doing business with Russia.
India is supporting colonization.
All India cares about is getting oil and gas for as cheap as possible. Russia has limited markets they can sell their oil to, so India now has tons of leverage and can set their own price. India has their own territorial conflicts with Pakistan and China that they need to worry about. They dont care what Russia does so long as they keep getting cheap oil.
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what happens when they run out? do they have to start buying more yans from somewhere else?
Buy them with what? No one want their rubles 😁and they haven't enough "stuff" to sell lol.
India only cares about India, so maybe they can seek them more LNG or oil. Maybe Rupies are the new Yuan lol
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It would be interesting to see the ruble collapse entirely. Crypto is already very popular in Russia, so the state could lose a tremendous amount of power/funding when they need it most.
Do you feel that Putler? That's the walls closing in.
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