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Chinese yuan becomes Russia's main foreign currency, replacing dollar and euro

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Re: Chinese yuan becomes Russia's main foreign currency, replacing dollar and euro

#81

Post by tibbydudeza »

JumpCrisscross wrote: post #64
endofreach wrote: post #63

Earlier quoted context omitted.

the west only cares about this to weaken russia. Weapons will only cost more lives. "Weapons will stop this war"? How? What's the end game? When it started the people believed it would be over in 3 days. Now all of a sudden people believe ukraine can destroy russia? How many more ukranian and russian soldiers must die? This war will not be stopped by weapons. Just like any other. But if it was, i can't see a defeated…

> How? What's the end game? Plenty of options. From complete Russian withdrawal (unlikely absent a Russian civil war) to a return to 2015 borders with neutral zones manned with international peacekeepers. Worst case: keeping the fronts where they are while Putin burns war materiel. > This war will not be stopped by weapons. Just like any other. You’re claiming wars have never been stopped by weapons?

Indeed - US lend-lease during WW2 would like to have a word.

Re: Chinese yuan becomes Russia's main foreign currency, replacing dollar and euro

#82

Post by JumpCrisscross »

MangoCoffee wrote: post #35
mark_l_watson wrote: post #2

As a US taxpayer I don’t particularly like this. We rely on being the world’s reserve currency, and many things get more expensive, e.g., serving government debt. In 2000-2001 we were able to effectively bully three countries that were talking about moving away from the US dollar, but I am not sure if that works now. I have a lot of personal theories how my country can best cope with future geopolitical adjustments.…

>We rely on being the world’s reserve currency, "Saudi Arabia ends 80-year petrodollar deal with US for multi-currency sales" https://www.indiatoday.in/business/story/saudi-arabia-ends-8... "No empire lasts forever, no dynasty continues unbroken" edit: Since the U.S.'s war on terrorism, the U.S. has said that every trade done in dollars is de facto done on U.S. soil and thus subject to U.S. laws. I'm surprised that m…

The petrodollar era ended between the 90s and 2000s. The Saudis switching from swapping U.S. dollars for oil to swapping yuan for dollar-pegged Saudi riyals is peak nothingburgerism. (Did you know the British have always sold oil for pounds?)

Re: Chinese yuan becomes Russia's main foreign currency, replacing dollar and euro

#83

Post by mrtksn »

JumpCrisscross wrote: post #76
mrtksn wrote: post #44

Earlier quoted context omitted.

True but they are far from running out of this stuff(soldiers of any kind with any equipment) before the west. Russians have criminal level of tolerance for lost lives.

> they are far from running out of this stuff(soldiers of any kind with any equipment) before the west They destroyed their veterans in the opening gambit. Mowing down unequipped numpties at staggering loss ratios isn’t a problem for Kyiv so long as its ammunition supplies are assured. > Russians have criminal level of tolerance for lost lives Russia is an empire. Moscow isn’t sending its children to the front, it’s…

I know, it's a brilliant system: Send your soldiers to force unarmed men in the other end of your empire go fight for you in Ukraine. I've seen some stats showing that now %10 of military age Tuva people fought in Ukraine. In Moscow that was about %0.2.

Russia has a moat here, Ukraine and the West can't pull anything of that sort.

Also, the mentality of Russian people or slavs in general is very prone to conspiratorial thinking. They are also very unambitious, only motivated by ideas about glory and don't make long term life plans and assume the role given to them.

Its very weird, the western mindset can't comprehend this. I've been risen in a slavic communist country that used to be aligned with USSR.

To this day I have relatives who are offended by the west despite living in EU, having their life quality depended on the success of EU but root for Russia to win and "show the arrogant west who's the boss". So I don't think that Putin will have human resources problem ever, as long as maintains his image of the tough guy who teaches the west a lesson. Russophilia is also widespread in many countries, even in EU.

Re: Chinese yuan becomes Russia's main foreign currency, replacing dollar and euro

#84

Post by exceptione »

mark_l_watson wrote: post #80
pmontra wrote: post #73

Earlier quoted context omitted.

England disengaged because they could not afford to run their empire anymore. They ended up as a vassal state of the USA. They were lucky because they remained in the same general cultural area. I wonder whom the USA will be a vassal to. BTW the UK and France resisted that disengagement when they attempted to keep Suez from Egypt in 1956 but that expedition failed, also because the USA didn't like it.

re: “”I wonder whom the USA will be a vassal to.”” I hope not (!) and don’t think so. We have major natural resources and advantages. I can’t imagine a future where, assuming we mostly withdrew from the world’s stage, that any country would mess with us.

Indeed, I think the country will mess with itself. America is not a cozy, isolated community that lives a happy and simple life with mostly internal trading.

America lives of a constant influx of the best global talent and a global market for its products.

I would bet my money that American democracy would not survive when that ecosystem collapses, especially not as the American system has already transitioned into an anocracy according to some. Collapse in itself would create opportunities, but not for a simple programmer as you refer to yourself.

Re: Chinese yuan becomes Russia's main foreign currency, replacing dollar and euro

#85

Post by NicoJuicy »

endofreach wrote: post #63
JumpCrisscross wrote: post #32

Earlier quoted context omitted.

> sanctions make very little difference short term. Giving more weapons to Ukraine is the only way to stop Russia Correct. Long term, the effects of a materially-high real interest rate, capital controls and the demographic and technological degradation of sanctions and the war directly are starting to show their teeth. Sanctions won’t stop this war. But they’ll facilitate degrading Russia so it is in no position to…

the west only cares about this to weaken russia. Weapons will only cost more lives. "Weapons will stop this war"? How? What's the end game? When it started the people believed it would be over in 3 days. Now all of a sudden people believe ukraine can destroy russia? How many more ukranian and russian soldiers must die? This war will not be stopped by weapons. Just like any other. But if it was, i can't see a defeated…

Ofc. More weapons for Ukraine will stop the war and provide Ukraine with a better peace position.

You don't stop a bully by saying "please". They'll take your money and come back for more after.

In this case, Russians are taking your land, men, woman, children, culture and washing machines + the gas found in 2013 nearby crimea and the minerals in the most resource dense land of Ukraine ( lithium, ... ).

Here you go:

https://www.renewablematter.eu/en/ukraine-all-lithium-reserv...

https://www.reuters.com/article/idUSBRE90N11X/

If only in 2014 the international response would have been harder ( => provide weapons), Putin wouldn't have escalated 8 years later.

Providing more to Ukraine is long overdue.

> the west only cares about this to weaken russia. Weapons will only cost more lives.

Speak for yourselve. Some of my dearest friends these days are from Ukraine. ( Belgium)

While Europe is providing shelter and a life for 6 million refugees.

Re: Chinese yuan becomes Russia's main foreign currency, replacing dollar and euro

#86

Post by inglor_cz »

endofreach wrote: post #63
JumpCrisscross wrote: post #32

Earlier quoted context omitted.

> sanctions make very little difference short term. Giving more weapons to Ukraine is the only way to stop Russia Correct. Long term, the effects of a materially-high real interest rate, capital controls and the demographic and technological degradation of sanctions and the war directly are starting to show their teeth. Sanctions won’t stop this war. But they’ll facilitate degrading Russia so it is in no position to…

the west only cares about this to weaken russia. Weapons will only cost more lives. "Weapons will stop this war"? How? What's the end game? When it started the people believed it would be over in 3 days. Now all of a sudden people believe ukraine can destroy russia? How many more ukranian and russian soldiers must die? This war will not be stopped by weapons. Just like any other. But if it was, i can't see a defeated…

From the perspective of Central Europe, yielding to the decrepit Eastern empire and allowing it to conquer more territory by violence is a good way to invite more wars of conquest in the near to middle future. Moldova, the Baltics, Poland etc.

If Russia takes Ukraine, Ukrainian industrial base will be used to expand Russian military might and facilitate further wars of aggression and killing of more people.

It is not that different scenario from the one that happened in 1938-9 with Hitler and rump Czechoslovakia. Czech armament industry and Czech weapons were a welcome boost to the capabilities of Nazi Germany.

That's what you get for appeasement. A stronger and bolder enemy.

Re: Chinese yuan becomes Russia's main foreign currency, replacing dollar and euro

#87

Post by mrtksn »

JumpCrisscross wrote: post #79
mrtksn wrote: post #53

Earlier quoted context omitted.

All time high as of producing small amount of very expensive stuff won't be good if can't produce huge amount of basic stuff. Is USA capable of producing huge number of electric motors? Other "not profitable enough to produce here" stuff? Remember how the west wasn't able to deliver enough artillery shells simply because it can't produce enough? Now it might be ramping up in the shells department but there's so many…

> All time high as of producing small amount of very expensive stuff You’ve made a series of wrong, uncited claims. This is another one. > Is USA capable of producing huge number of electric motors? Siemens is the world’s largest manufacturer of electric motors. They have massive plants in Germany, Ohio and Missouri [1][2]. Toshiba, the second largest, in Houston and Canada [3]. ABB, third largest, with plants across…

Again, spending a lot is not the same as having large number of machinery produced. Dollar bills don't blow up BTRs, cheap energy is cool but Russia too has cheap energy. They also have cheap people who can use that cheap energy to build huge numbers of cheap stuff that blow up expensive things.

It's like India going to the moon at cost that would be considered pocket change in the USA.

Ping me when Ukrainian drones are made by US/European parts and not Chinese.

Re: Chinese yuan becomes Russia's main foreign currency, replacing dollar and euro

#88

Post by inglor_cz »

SXX wrote: post #45
benced wrote: post #18

Seems kinda wild that it took 2 years post the big sanctions for this to happen?

Because majority of Russian exports are gas, oil and raw materials and they sell them for USD and EUR. Also because huge percent of Russia income in 2022 and 2023 come from EU buying russian gas and raw materials. Also because Russia already had $50 billion stuck in Indian Rupee they cannot use. So they now use CNY of course, but even now a lot of exports still gonna be sold for USD.

"they cannot use"

They can, India will happily sell them stuff for rupees, but the problem is that Indian exports mostly don't match Russian import needs.

Re: Chinese yuan becomes Russia's main foreign currency, replacing dollar and euro

#89

Post by SXX »

inglor_cz wrote: post #88
SXX wrote: post #45

Earlier quoted context omitted.

Because majority of Russian exports are gas, oil and raw materials and they sell them for USD and EUR. Also because huge percent of Russia income in 2022 and 2023 come from EU buying russian gas and raw materials. Also because Russia already had $50 billion stuck in Indian Rupee they cannot use. So they now use CNY of course, but even now a lot of exports still gonna be sold for USD.

"they cannot use" They can , India will happily sell them stuff for rupees, but the problem is that Indian exports mostly don't match Russian import needs.

So for all practical reasons there is very little they can use them for.

They can of course invest into India economy to get even more Rupees.

Re: Chinese yuan becomes Russia's main foreign currency, replacing dollar and euro

#90

Post by inglor_cz »

SXX wrote: post #89
inglor_cz wrote: post #88

Earlier quoted context omitted.

"they cannot use" They can , India will happily sell them stuff for rupees, but the problem is that Indian exports mostly don't match Russian import needs.

So for all practical reasons there is very little they can use them for. They can of course invest into India economy to get even more Rupees.

Not too long ago, I pondered the question of "what would I do if I were an evil tsar sitting on a billion rupees".

My best answer was to recruit Indian mercenaries for meat attacks. But it is possible that New Delhi would not like that. India doesn't suffer from a lack of young disposable men, but it also cares about its international reputation.

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