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It's also worth pointing out that Russia's currency reserve lock is due to war. Only Iran and North Korea are in the same box for qualitatively the same reasons
by scrubs 5y ago
It's also worth pointing out that Russia's currency reserve lock is due to war. Only Iran and North Korea are in the same box for qualitatively the same reasons. China isn't Russia reckless. And as others have pointed out in comments the exempted economies are relatively small. This argument gives emphasis then to the why so that, hopefully, China would not separate, for example because it would never be in the Russia box.
- onecommentman 5y agoThe World, and the 1.4B Chinese people, can’t afford for China to experience the petit mal seizure Russia is experiencing. Russia and Ukraine are small enough in total population for the Rest of the World to keep their people from starvation through humanitarian interventions. Compared to China/India, they’re cute. China has 10 times the population that would need to be fed under a similar scenario. The stewardship responsibilities of the Chinese government, from a planetary perspective, are ten times greater. Nobody would want a replay of the great Chinese famine (三年大饥荒), but it is unclear how the Rest of the World can address feeding (up to) 1.4B people on short notice. And nobody wants to find out.