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> Let me repeat that, the majority of the world, by every meaningful metric, in every meaningful sense, population, GDP, natural resource production, industrial
by manuelabeledo 5y ago
> Let me repeat that, the majority of the world, by every meaningful metric, in every meaningful sense, population, GDP, natural resource production, industrial capacity, etc. is willing to trade with Russia.
For starters, it is not true that the "majority" by GDP would trade with Russia, when the whole European bloc, Canada, US, Japan, Australia, etc. would not.
Leaving that behind, Russia economy is largely based on natural resources, of which the main buyers are in Europe, so much so, 45% of Russian exports were going to the EU and the UK. In that regard, only China could be considered a feasible partner, both geographically and economically, at least until someone figures out how to lay down enough gas pipe to reach South America.
India's GDP, while large, absolutely relies on population numbers, as their GDP per capita would put them well behind countries like Vietnam. India accounts for less than 5% of Russian exports right now, and unless the Indian government is willing to take another hit at the per capita GDP, which has decreased 9% in the past year, they will not be buying more from Russia in an amount so significant, it would cover the losses.
Bottom line here is that Russia will not make up for the losses by relying more on China, and India is irrelevant at this point. If anything, I would say that China will step in and buy Russia's assets at a discount rate.