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Russia needs China at this point. It is a risky position to be in. While China is happy to partner with Russia it will not be because they support Russia ideolo
by etempleton 5y ago
Russia needs China at this point. It is a risky position to be in. While China is happy to partner with Russia it will not be because they support Russia ideologically, but because they see it as economically advantageous to do so. The minute it stops being in China’s best interest is the minute the partnership cedes. China has options. Russia doesn’t.
- lesuorac 5y ago> units stopped issuing U.S. dollar-denominated letters of credit for purchases ... Yuan-denominated letters of credit are still available for some clients [1] Sounds about right; ~We're still willing to do busineses with you, but just not in USD. [1]: https://www.bloombergquint.com/global-economics/chinese-state-banks-restrict-financing-for-russian-commodities https://www.bloombergquint.com/global-economics/chinese-stat...
- sharken 5y agoIt's also hard not to interpret China's inability to demonstrate decisive support for Ukraine the following way. China would like to reserve the possibility that it can invade a neighboring country if it wants to. I do hope that is not the case and that Beijing in a day or so will show support for Ukraine by enforcing as much sanctions as possible. But it does seem like China thinks Russia invading Ukraine is not that big of a deal judged by their actions.
- etempleton 5y agoI think they are happy to watch and see how it goes. How the international community responds and plan accordingly. China has a more difficult invasion if they choose to, but are likely not as impacted by sanctions. On the other hand the West sees Taiwan as of strategic importance, more so than Ukraine, and may respond accordingly. Military interference is likely not off the table.