Tuesday 21 March 2023

The real story is not Russia but the ascent of China

“The logic of events dictates we become a Chinese resource colony. Our servers will be from Huawei. We will be China’s major suppliers of everything. They will get gas from Power of Siberia. By the end of 2023 the yuan will be our main trade currency.”
Anonymous Russian quoted by Max Seddon in the FT today.

"Beijing is already in effect bankrolling Putin’s war. China is by far Russia’s biggest trading partner, and trade between them surged by almost a third last year. There have been steep rises in Chinese imports of Russian oil, gas and agricultural products, helping make up for the falloff in sales to the west. A new gas pipeline is planned. And China has increased exports to Russia of dual-use items, including semi-conductors supplied through shell companies in Hong Kong and the Middle East." Ian Williams in the Spectator today.

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