^^^ And none of them realize that their wealth is fake fiat wealth that can collapse anytime with the banking whims.
Russia is solid, not being built on banking whims. Ukraine is finding out that the US banking whims are collapsing their whole country.
Russia is solid, not being built on banking whims. Ukraine is finding out that the US banking whims are collapsing their whole country.
I believe the most solid thing about the Russian economy is the fact much of their GBP depends on the commerce of gas and oil, those are commodities which will always have intrinsic value in the Asian market, as still many countries in that continent rely on fossil fuels to keep their machines going. If Russia did not have as much energy in the form of gas and oil, they would be indeed in big trouble. And since now the European Union seems to be pushing for a transition towards green energy and the political consequences of his conflict, the Kremlin has found new potential and welcoming clients in both China and North Korea, India is also willing to buy energy from them at discount, as they have already done in the past.
dumBAss has been waiting for many years for that stuff to "collapse" and he will probably die thinking it is about to happen just next week. I think he does not realize that he is not really good a realizing.
China will buy from Ruzzia but they need to solve their banking crisis with some speaking of 40% of bad debt across 4000 banking province and local banking entities. So BA, put your money where your mouth is an buy Yuan. What could go wrong?
Ruzzia will always be the weak partner on that one. NK is irrelevant economically. India is much more leaning towards the "West", but will keep its options open anyway.
However, none of this is going to make the cost of war any better for Ruzzia.
Unlikely BD would turn to the Chinese yuan, to be honest. It is well known China and the Chinese government represent one of the main foes to be beaten within the MAGA movement. So we will not have a single Chinese Bill ote in his wallet.
Besides, if I recall correctly, Chinese yuan is famous around the planet for being perhaps the most important Fiat currency which needs to be artificially devaluated for the sake of keeping big corporations inside the country and not to pull out their capital and assembly lines from there, moving to alternative markets, like India or Pakistan.
While I agree the economical size of North Korea is irrelevant compared to China and Russia, the alliance indeed had some political significance, otherwise it would have not produced so many political headlines some days ago.