Russian and China
This is major...
Sidelined Russia Makes Deals with China - The American Interest
China cashes in on Russia's shrinking economic options - Christian Monitor
- The US is using control of the financial industry to apply sanctions to Russia.
- Russia and China do not like the US having financial controls that can hurt their economy.
- Oil is mostly priced in dollars, making the US the default reserve currency of the world.
- Russian is now doing export deals not using US dollars.
- Having the US dollar as the world reserve currency, allows the US government to borrow more than it can.
- Sanctions are seen by the US government as a low cost way to show they are doing something.
Labels: China & Russian