Live data from Hacker News

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

unn.ua

101–110 of 131 posts

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

#101

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…

I am very curious of this line of thinking. Should we just destroy all our weapons and assume Russian supremacy so we can live?

What is the endgame here? It's not like we started the war? If anything we, the Europeans naively made ourselves Russia-dependent on energy assuming that having a win-win deal with Russia will eliminate any conflicts.

>Now all of a sudden people believe ukraine can destroy russia?

I don't think that anyone claims that this is the goal of Ukraine or the west. This war ends immediately as soon as Russian troops leave Ukraine. Why should it end with Russian troops taking all Ukraine?

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

#102
post #67

Earlier quoted context omitted.

> How isn't "the West" shooting themselves in the feet with these sanctions when Russia is able to get the war stuff through Turkey/Kyrgyzstan etc when not able to buy and sell civilians stuff? what damage do you really think this does to "the West"? the lack of access to cheap Russian energy is the only thing I can think of, and that's a dependency better resolved now than punted to the future. had Europe never grow…

Lack of access to cheap energy is a big one, its shaping the politics and the economy. Also, western brands are losing markets and brand recognition. IMHO the sanctions should have been for military equipment/weapons and precision tooling only and enforced religiously.

The size of the Russian market is irrelevant for western brands, for all intents and purpose—particularly US ones.

Europe could have cheap energy alternatives if they wanted, but they preferred to rely on cheap Russian natural gas, believing them not to be a rogue state. The attempted invasion of Ukraine has made it obvious this was a terrible miscalculation.

Arguing that Europe should try to restore the status quo ante bellum is not only foolish, senseless, illogical and irrational but dangerous too.

Your profile says you like to argue things that you don't really believe in just to "have a more lively debate". I can only imagine that's what's happening here, because no rational actor would make the sort of concessions to Russia as you argue, particularly after they have proven to be a much, much weaker military power than anticipated.

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

#103
post #87

Earlier quoted context omitted.

> 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…

At this point you're just trolling. It's honestly tiresome. The US could easily produce cheap electronic motors if it wanted to in record time, particularly in a war effort. It would be child's play. The whole reason this stuff is offshored to developing nations is because anyone can do it, so you might as well hire the cheapest labor—or so the reasoning goes.

Check your own biases at the door next time you're looking to engage in intelligent discussion, lest you come across as quibbling in bad faith.

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

#104

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 During petrodollar era, the 1970s and 80s, the dollar was used less than it is today. (Certainly within the USSR and even the Russian SSR.) We de facto banned Russia from using the dollar in 2022 [1]. That it took Moscow over two years just get down to 50% speaks volumes to the dollar’s strength. [1] https://home.treasury.gov/news/press-releases/jy0612

side note: I just wanted to commend you for your tireless responses and fact-checking on this otherwise dumpster fire of a comment section. you're doing god's work here

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

#105

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…

The stated goal of Russia in publicly made speeches is to control the land Gap in NATO territory in Poland. That is the reason why they invaded Ukraine

Russia will not stop at Ukraine. Their publicly stated goal just like they're publicly stated goal for invading Ukraine is The first step to militarily controlling that Gap is called the sulwaki gap

I forgot what the name of the person is, but there is a naval war college professor who explained that Russia is a continental empire and it's the key to its defense are control of seven gaps without those Russia considers themselves indefensible.

Ukraine is the necessary defense line. Because the next thing that happens is Russia invades NATO gets its ass kicked conventionally and then there's a nuclear war

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

#106
post #98

Earlier quoted context omitted.

> Russia is sinking despite becoming the 4th largest economy Sixth [1] to 11th [2], on track to being eclipsed by Indonesia and Mexico. > having major increase in real wages Real wages are up, yes, but real disposable income is flat [3]. This isn’t uncommon in a war footing [4]. Labour and necessities are diverted to the front, raising prices for both. That squeezes disposable income, which moderates price growth in…

>> Russia is sinking despite becoming the 4th largest economy What part of it is 'sinking'? It increased its oil exports. It increased its other resource exports. Europe is still buying Russian gas and oil, except through India and its now called 'Indian oil'. It achieved independence in a lot of things that it was buying from the West, mixing it with homegrown products and global south imports. The sanctions HIT EUR…

Even if you're right and I haven't looked at it the specific one cuz I don't really care, it's a short-term result.

Russia is in the early midst of a complete demographic meltdown even before the war.

The invasion Ukraine happened cuz this is the last disposable generation Russia could muster for invasion.

Of course this is just hastening their demographic decline in the next 10 years.

Combine that with the fact that it hastens the adoption of EVs and the moving off of fossil fuels, everything that Russia thinks it's achieving in this war is leading to it's more rapid decline in the next decade.

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

#107
post #100

Earlier quoted context omitted.

Here's some independent data points. 1) Everyone I personally knew in Russia has left, and every international collaboration in science I have seen seems to have ended. 2) People I know who are full time online teachers report that Chinese have virtually overnight lost their spot as the most numerous students, replaced by hordes of Russians seeking to emigrate. 3) Indisputable military points of clarity from global n…

> Everyone I personally knew in Russia has left > People I know Everyone I know in my home country which has absolutely no relation with any of these has also left. The 99.9% of the population have not. Your personal circle and the specific demographics you belong to do not constitute statistics. > 3) Indisputable military points of clarity from global news are that Russia failed to capture Ukraine's capital after pl…

Most of your points are vague, opine or circumstantial and rely on an us-and-them sense of reasoning. This and the use of first person and a plural second person do not lend weight to your argument. I myself hold three citizenships and am part slavic, raised irreligious and to hold America in a very dim light. I lived much of my life in China, but find myself moving to the US for good reason.

Nationalism is an infantile disease. The measles of mankind. - Einstein

It seems somehow fitting in today's scenario that Einstein fled Europe for the US, and turned down being PM of Israel with insightful comment.

Chiefly your arguments about abstention from votes are totally logical: the countries who abstained are largely neighbors or economic vassals of China and Russia who do not want to poke the proverbial bear.

Ask the Chinese how their real estate market is going, and it is certain they will tell you it was an effective ponzi scheme which has burst and the government crony real estate firms ate all their savings. That money went overseas. Masking cronyism with a drum of nationalism is populist politics 101.

Russia was a great cultural and economic center at one time, but that time has long passed. Recently, IMHO it has been primarily a proxy, mafiaesque jurisdiction for globalized resource market extraction operations. As I look about my house I notice zero Russian inventions, products, or brands, save some postcards from 1900 and a jar of pickled winter food. I hope everyone on all sides can pass this difficult time and lead peaceful and fulfilling lives without nationalism.

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

#108
post #98

Earlier quoted context omitted.

>> Russia is sinking despite becoming the 4th largest economy What part of it is 'sinking'? It increased its oil exports. It increased its other resource exports. Europe is still buying Russian gas and oil, except through India and its now called 'Indian oil'. It achieved independence in a lot of things that it was buying from the West, mixing it with homegrown products and global south imports. The sanctions HIT EUR…

Even if you're right and I haven't looked at it the specific one cuz I don't really care, it's a short-term result. Russia is in the early midst of a complete demographic meltdown even before the war. The invasion Ukraine happened cuz this is the last disposable generation Russia could muster for invasion. Of course this is just hastening their demographic decline in the next 10 years. Combine that with the fact that…

> Even if you're right and I haven't looked at it the specific one cuz I don't really care

That. Therein lies the problem that destroys the Angloamerican-led world order and the countries that are under its yoke from within: You prefer a certain version of reality that appeals to what you believe and feel. As a result, you literally ignore anything that contradicts those and amplify whatever supports those - which allows your establishment to literally lie to you to get to believe what YOU want to believe. Because, even if they tell the truth, you wont believe it ANYWAY, and you will do it...

> it's a short-term result.

...like this. All the indicators show the contrary of what you currently believe. You even went much further than the majority of the population and actually acknowledged that this may be the case, and the situation may be different than what you believed. BUT, you STILL gravitate back to your preferred reality by rejecting the contradicting indicators, by labeling them 'short term'.

They are not 'short term'. The entire world order changed. NYT admits it, Reuters admits it. But you, the public, WANT the reality to be otherwise. It wont.

https://www.reuters.com/world/brics-poised-invite-new-member...

> The invasion Ukraine happened cuz this is the last disposable generation Russia could muster for invasion.

The invasion of Ukraine happened because it was the last project of Brezinski and his proteges are still running the US foreign policy. He outlined how it should happen, and it was implemented precisely how he planned it before he died.

> Combine that with the fact that it hastens the adoption of EVs and the moving off of fossil fuels

Another delirium, that lives on the lie that the Angloamerican media sold to its public by saying that Russia was "an oil rig posing as a country". Its not.

One lie supporting another, one lie being used to reject the uncomfortable reality when the numbers and actual events contradict it, gravitating back to the PREFERRED, false reality because, well, it makes you people 'feel good'.

I'll leave you to your denial.

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

#109
post #100

Earlier quoted context omitted.

> Everyone I personally knew in Russia has left > People I know Everyone I know in my home country which has absolutely no relation with any of these has also left. The 99.9% of the population have not. Your personal circle and the specific demographics you belong to do not constitute statistics. > 3) Indisputable military points of clarity from global news are that Russia failed to capture Ukraine's capital after pl…

Most of your points are vague, opine or circumstantial and rely on an us-and-them sense of reasoning. This and the use of first person and a plural second person do not lend weight to your argument. I myself hold three citizenships and am part slavic, raised irreligious and to hold America in a very dim light. I lived much of my life in China, but find myself moving to the US for good reason. Nationalism is an infant…

> Most of your points are vague, opine or circumstantial and rely on an us-and-them sense of reasoning

That's what you did with "Most of the people I know".

The rest are literal references from actual Angloamerican establishments. You are literally contradicting what NYT, Reuters et al bluntly say. Take it up with them and tell them that they are wrong.

> I myself hold three citizenships and am part slavic, raised irreligious and to hold America in a very dim light.

Doesnt mean anything. You talk like an American nationalist who is devoid of the understanding of the reality outside.

> Nationalism is an infantile disease. The measles of mankind. - Einstein

Another irrelevant phrase, hard to understand what the hell does it have to do with the actual point.

> Chiefly your arguments about abstention from votes are totally logical: the countries who abstained are largely neighbors or economic vassals of China and Russia who do not want to poke the proverbial bear.

Its not about 'votes'. All of those countries increased their TRADE with Russia. Needless to say neither Brazil, nor Chile nor Malaysia nor Indonesia has anything to fear about Russia. The argument is unintelligible.

Its also hypocritical: When US satellites vote how the US wants, its 'democratic', but when other countries vote according to their already declared, clear diplomatic stances, its 'for fear'.

> Ask the Chinese how their real estate market is going

80% of 30 year olds and 90% year of 40 year olds own their houses, and they paid it with their own money. That's how it is going. Its going bad only in the publications of the Economist, WSJ and NYT because they want China to open up its real estate market so that American investment funds can fck the Chinese by buying up entire neighborhoods then jacking up prices to profit - like how they did to Americans:

https://www.cbsnews.com/news/homes-for-sale-affordable-housi...

99% of Americans will never buy a house in their lifetime.

This is a great example of how delirious you people became by feeding on the lies and bullsht of your media. The Economist incessantly lies about China, you people eat it line and sinker and blabber about "China's real estate market" even as 99% of you will never buy a house. You get your own real estate market in order first. Sheeshhh...

> As I look about my house I notice zero Russian inventions, products, or brands, save some postcards

Yeah. Your house, in your self-induced ignorance and delirium with all the disconnectedness from the rest of the world, does make a statement about actual countries and geopolitics. Like the 'China real estate market' delirium. The country where 99% of the people will never own a house are yammering about the real estate market of another country and denigrating it. That seals the discussion. Well done.

I will leave you people to dabble in your drivel.

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

#110

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…

The stated goal of Russia in publicly made speeches is to control the land Gap in NATO territory in Poland. That is the reason why they invaded Ukraine Russia will not stop at Ukraine. Their publicly stated goal just like they're publicly stated goal for invading Ukraine is The first step to militarily controlling that Gap is called the sulwaki gap I forgot what the name of the person is, but there is a naval war col…

That's not entirely correct. NATO is not a threat in Putin's eyes.

What they want is the gas that was going to be produced in Ukraine in 2013, a year before they invaded. They also took resource rich areas.

The proof for this is easy. Russia clearly stated they have no problem with Finland joining NATO. A border of 1340 km and Finland has one of the strongest army's in Europe.

https://www.politico.eu/article/putin-russia-no-problem-finl...

https://www.reuters.com/world/europe/what-can-finlands-armed...

What he originally wanted to keep, is resource dominance over Europe ( eg. Gas) as leverage.

And that's why a half a million Russians are dead.

Post reply on HN