If it was the intent of the West to bring Russia and China together - one a natural resource (if "somewhat" corrupt) superpower and the other a fixed capital / labor output (if "somewhat" capital misallocating and credit bubbleicious) powerhouse - in the process marginalizing the dollar and encouraging Ruble and Renminbi bilateral trade, then things are surely "going according to plan."
For now there have been no major developments as a result of the shift in the geopolitical axis that has seen global US influence, away from the Group of 7 (most insolvent nations) of course, decline precipitously in the aftermath of the bungled Syrian intervention attempt and the bloodless Russian annexation of Crimea, but that will soon change. Because while the west is focused on day to day developments in Ukraine, and how to halt Russian expansion through appeasement (hardly a winning tactic as events in the 1930s demonstrated), Russia is once again thinking 3 steps ahead... and quite a few steps east.
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The Chinese and Russians have been talking about this for ages. The author really believes that the Russians were looking at the 1 billion energy thirsty customers in China but they needed a nudge from the U.S. To pursue this market?
ReplyDelete@8:31
ReplyDeleteThere is no way to deny that bumbling policies on behalf the U.S. and the E.U. have exacerbated the whole situation. Unfortunately, this could accelerate the inevitable demise of the dollar.
919,
ReplyDelete"The reality today is that Russia supplies 31 percent of EU gas imports, 27 percent of crude oil imports, 24 percent of EU coal imports, 30 percent of total EU uranium imports, and is the EU’s third-largest supplier of electricity"
This was the "blunder". The US has no dog in this fight so please cut the bull
348,
ReplyDeleteHow is anything I said bull??
Agreed, this is a lot bigger deal to the EU, but our dog is the U.S. dollar. These developments are not favorable for us. Anything hastening the demise of the dollar is bad news for us.
We have no coherent foreign policy, economic policy, or energy policy. We are a far weaker nation today than we were 5+ years ago.
And before you mention Bush, I'll concede that he didn't such a bang up job as well.
This country is in need of a strong leader.