Quote:
Originally Posted by nik-
So cutting themselves off from the rest of the planet gets them oil from where? Venezuela?
I didn't say there was no impact to us, I'm saying forming a block of poor countries and China and then only trading within each other is a hilariously bad decision.
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My point to even bring it up is that US based sanctions become meaningless if the US dollar isnt the de facto currency for world trade. Simple. Then I said Russia may be flexing its muscle because it now has alternate methods to buy/sell goods DIRECTLY in their own currency or the currency of China. I speculated if this is why Russia appears to be escalating their cold war era tactics.
The rest I have no idea why you can't understand. China is the 2nd biggest economy in the world. If they want to buy/sell in their own currency from now on and abandon the dollar, the US is in SERIOUS trouble. Already Japan (3rd largest economy) and China are starting to deal directly in Yen to RMB when trading, no US middle dollar. These are not 'poor countries'
If China starts to say to Oil producing countries: " we want to buy in RMB, not USD, guess what? It will happen. Anyways that has naught to do with this thread, other than the first paragraph so lets just leave it.