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0 sats \ 0 replies \ @Cje95 19 Feb \ parent \ on: Milei's promotion of shitcoins is turning into a real scandal Politics_And_Law
So honest to God question what do you think happened during the Cold War? Do you think the Soviets used our banking system? Not at all and so when the US and Europe started sanctioning guess what they did they went right back to the old system that already was in place with India and China.
Now mind you China has not only started to distance and refuse payment in the ruble but has also begun limiting oil imports. Do you know where the oil actually goes? It goes to India that is the largest importer of cheap Russian crude. You arent even going after the correct country as India has continued to buy Russian arms as well so really honestly ya gotta have the updated data.
BRICS for one simple reason wont work when it comes to creating a single currency and it is the reason that the US dollar has maintained its dominance. A single country has to be in charge and if you think India and China who get into border fights are going to let the other countrol or Iran and the other Gulf Countries you are out of your mind.
Dollar dominace has actually only gained steam with crypto adoption because of USDC and USDT. Doesnt matter who or what country they still trade in that sweet sweet USD.
China wants Taiwan for the ASML chip machines. Once it came out that those things have dead man switches on them China has dramatically backed off because Taiwan will destroy everything that China needs. China cannot develop the 4 nm chips they are not even close to it yet they are two generations behind with tech they have developed internally.
China's economy is in deep deep trouble they havent bounced back at all like anyone thought and the city and province government are drowning in debt. China keeps doing purges of their leadership to stop the graft and even if they do the damage is already done. Only once country in the world is home to "modern" ghost cities and it isnt anywhere else but China. Throw in how they are facing a population cliff just like Russia and hell wait them out another 10-20 years their birthrate will take care of the issue.
Everything you are saying is what everyone, myself included, thought at the beginning of the conflict. Now we are seeing how wrong we all were.