would be very, very vulnerable. There would be nothing able to protect the Chinese convoys. And basically China doesn't have the naval strength yet to do that. It really depends on the US. Now, if China got its oil from Russia, there would be far, far less of a problem. It'd be more defendable. So I think ultimately maybe a lot of this or the subtext here is that we want the Russian regime to fail. And that way it would support China's ambitions in the longer term. And that may be left field, but I think currencies are geopolitics. Yeah, super. Go ahead. Yes, go, Mike. I want to say that I tend to agree that there is a geopolitical aspect to what's happening in Russia. Russia, China, I think is importing about 75% of its energy. So if you can control the energy sources that China is getting, definitely you can put some pressure on it. Regarding the Chinese one becoming a global reserve currency, in order to do that, it would have to open up its capital account and have its currency (67/92)
You are viewing a single comment's thread from: