Sure, keep telling yourselves that waging war suddenly became free.
Is war good for the Russian economy? Seems like Russia’s economy is running at its hottest pace in years.
Dedollarization is good for their economy. They’re actually increasing exports in some sectors of their economy despite the SWIFT lockout.
It’s also very good for Xi Jinpeng. The central kingdom shall rise again.
That’s kinda orientalist.
Dedollarization is good for China, but they’re hardly some kind of mystical asiatic kingdom.
I was being facetious.
Besides, BRICS is probably going to default to Yuans. Like would you pay in Brazilian pesos, Russian Rubles or Indian whatever the heck that currency/economy is?
I don’t believe they’ll conclude that dealing with 5 or more currencies at the same time as being effective, especially when said currencies come from dumpsterfire economies.
I can also tell you that they will not be going for the EURO, and with all the debt to China… where does that lead them?
Trade cannot stop. That was the point of SWIFT and that is the point of BRICS.
But now I’m being presumptuous, which one is want to do on the internet.
Hypothetically it might make sense to pay pesos for Brazilian seed oil and rubles for Russian fossil fuel, as this would ensure no trade deficits exist between countries, but China is so much more productive than the rest of them that it might just default to Yuan. I’m still optimistic about the possibility of trade in national currencies, though.
Just wait till the attacks in ruzzia increase :) we have only begun to see the fireworks.
It’s a poorly designed chart, likely published this way so that it confuses the average reader and hides how bad the numbers actually are.
If you add up the year-on-year budget performance, the Jan-Aug 2023 budget performance is about 2.6 trillion rubles WORSE than last year.The reporting tries to cover up these bad numbers by focusing on the surplus in June 2023 - the highest result since March 2021. However, the June result would not offset the deficit experienced in April 2023, let alone the Jan and Feb deficits.
There’s even a hilarious typo in the news story where the author has stated “800 trillion” instead of the actual “800 billion” result, plus they mixed up the months - the 800B was in June, not August. They really should run these numbers past an analyst before printing the story, but I expect disinformation is the real goal.