Russia is practically biting at the bit, ready to invade Ukraine and China has made the world well aware of where they stand when it comes to Taiwan. It is starting to feel like conflict is about to break out sooner than later. But one of the things that keeps these nations in check, is their dependency on the United and our allies for food and other necessities. But it turns out Russia and China are well aware of this weakness and are looking to become far less dependent.
“China and Russia have pledged to speed up their efforts to set up an independent trade network to reduce their reliance on the US-led international financial system.
Wednesday’s video call between Chinese President Xi Jinping and his Russian counterpart Vladimir Putin, saw “special attention paid to the necessity of accelerating efforts on the formation of independent financial infrastructure for servicing trading operations between Russia and China”, Russian presidential aide Yury Ushakov told Tass news agency.
He added that “third countries” would not be able to influence this network.”
The two leaders also welcomed an increase in the number of deals settled in yuan and roubles as well as efforts to improve access to stock markets for investors from both countries, Ushakov said.
In Wednesday’s call, Xi said trade between China and Russia in the first three quarters of the year had already topped US$100 billion for the first time.
“Both China and Russia are planning to reduce their reliance on the US-led financial system in the face of sanctions from Washington, which might curb US dollar transactions or limit their access to international payments mechanisms such as SWIFT.”
Xi told Putin that China would always support Russia’s efforts to maintain the nation’s long-term stability, while Putin backed Beijing’s approach to Taiwan, which Beijing views as a breakaway province.”
This is troubling as the more independent they are the less likely we can convince them not to take over neighboring countries like Taiwan or Ukraine. As it is Russia is demanding NATO dissolve its alliance/membership with countries in eastern Europe or else… So it is better for the world if they do not become too self-sufficient.