So true
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De-dollarisation has started
- Thread starter syed putra
- Start date
Did I not comment in an earlier post that Putin and his advisors were not dumb! They should have had anticipated all that the west could do including economic sanctions, etc... - "Russia-Ukraine War 101". I wrote Putin had no intention to occupy Ukraine, but more to change the world order - the US-centric world order around the petrodollar.
In the short term, Germany(maybe some others as well?) cannot go without Russian gas through the Ukraine pipeline. To pay in Rubles, the German banks have to open Russian bank accounts with some Russian correspondent banks; only then could they buy/sell Rubles.
I think Putin's action here would not change the status of the USD as petrodollar much in the short term. The US must be challenged much further, militarily and economically, before the petrodollar could be replaced.
"Einstein's E=mc² Is Invalid"
Chan Rasjid Kah Chew,
Singapore.
http://www.emc2fails.com
Its not a trusted currency anymore. Even saudi diversifying with yuan. It can buy solar paNels from china with that money. Plus some whores
All paper currencies should be trusted as much as you would trust paper. If you save in pounds, Queen Elizabeth may sanction you. If you save in Yuan, Xi may sanction you. If you save in SGD, Lee Hsien Loong may sanction you.
If you save in Bitcoin - if you are that foolish - the trading exchange may sanction you.
Only when you save in gold, silver,.. are you safe - provided you live a good life free of sins. Then only Allah may sanction!
"Einstein's E=mc² Is Invalid"
Chan Rasjid Kah Chew,
Singapore.
http://www.emc2fails.com
"Sanction" is one of those rare words that has opposing meanings.
UK retains Gibraltar although it should be returned to morocco.
After 1982 Plaza Accord the US forced Japan to surrender Toshiba chip maker machines to US, Japan shift to develop with China.
Meanwhile Japan pretend to be still allied to US. Just waiting to 报仇雪恨 time to come destroy US economy using China....
The time has arrived....
Pretend, play along until time to hoot US change face...
Usa quick die also better. Giving the world so much trouble. Printing money job stop causing inflation and bubbles.
Winnie didn't get the Saudi crown prince to challenge the petrodollar and agree to trade oil in the Chinese yuan, and here's why. The Saudis buy much more from America and Europe than from China. They are fucking rich and don't need cheap goods from China.
Xi Jinping’s Saudi trip & Sino-Arab relations; Chinese-Yuan oil vs. petrodollar
Didn't chinese build high speed rail plus coming huge solar farms? But you are right. Currently saudi bogged down in war in yemen. The houthis currently invaded and hold a chunk of saudi land mass. They need US weapons to be replenished,
I wasn't referring to him but this guy you mentioned really CMI. Why spent your whole life disproving another dead man's theory? So what if Einstein is wrong? We all know academia has a darker side.
my mistake.
Really ah? Just do a simple Google search to find out the facts.
https://comtrade.tradingeconomics.com/comtrade/share?r=sau&c=0000&v=treemapmarkets&t=1&title=
Ot just think for a second.. How's the manufacturing industry now in America and Europe? How do you think years of labour outsourcing and the recent energy prices have affected them?
They tried to go incognito with crypto for all their shady deals but when too much greed is concentrated in one place, the golden goose implodes.
The current Qatar world cup is almost made in China. They were contracted to build the stadiums and other new infrastructure developments. Can ever see the main sponsors in the side boards are Chinese - Wanda, Hicense etc.
It's a bit strange that the 154th media is not covering this visit given how important this new ME-china tie up is
China's relevance as the World's manufacturing factory is slowly but surely diminishing. Countries like Vietnam, India, Indonesia and South America are fast catching up. Not only China is getting costly, but those American (and soon to be European) tariffs will kill the manufacturing operations in China. China can only sustain for their own domestic markets. Even the Japanese in China are returning back to Japan with the very attractive incentives given by their own Japanese government. Hyundai has already closed several factories in China. Take for example, my 55-Inch PANASONIC LED TV is Made-In-Indonesia. My PANASONIC rice cooker is Made-In-India. A quarter of APPLE's Iphone 14 will be made in India in the near future.
Honestly, the only viable consumable which may be successful is their EVs. However, this is a very highly competitive market with the Japanese, Germans and even the Americans themselves are hot on their heels. Most of the Chinese EV companies are new kids on the block with no credible history of reliability and durability. Otherwise, why would Warren Buffett be liquidating his shares in BYD lately? They can only compete in prices, but consumers don't just look at prices alone. Take for example the newly established Vietnamese VINFAST EV manufacturer. How well they will perform will still need to be assessed by their users as they are just another new kid on the block in manufacturing EVs. Elon Musk is a fool to have set up such a big manufacturing plant in China because his Intellectual Property Rights are being stolen away by his Chinese competitors. In China, there is no protection nor respect for a company's Intellectual Property Rights, even amongst their own Chinese companies.
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