Wednesday, September 12, 2018

Xi Jinping and Vladimir Putin Make Thinly Veiled Threat Against Trump

Russia and China have vowed to stand together and fight Donald Trump’s attacks on their economies as Xi Jinping and Vladimir Putin sought to deepen their new-found strategic friendship, reports the Financial Times with the headline:

 Russian and Chinese leaders make thinly veiled criticism of Trump at summit

Trump’s escalating tariff attacks and anti-trade rhetoric has damaged ties with Beijing while threats of
crippling new sanctions has angered Moscow, helping to push the previously fractious neighbors closer together.

At a high-level summit on Tuesday the Chinese and Russian leaders discussed, according to the Times.  military co-operation, boosting economic ties as well as initiatives to use their local currencies for cross-border trade. The two countries’ strategic alliance has strengthened as Russia’s ties with western partners have soured and the trade war between Beijing and Washington has intensified.

“In China, we say that friends are revealed in misfortune. In Russia, too, there is a saying: ‘A friend is not who walks to a feast, but one who helps in a disaster’,” Mr Xi said after talks with Mr Putin.

“Together with our Russian colleagues, we will increase fruitful co-operation in international affairs and intensify co-ordination . . . to oppose the policy of unilateral actions and trade protectionism.”

Trump's crazy economic protectionism and sanctions against Russia may well lead to a bear hug between China and Russia--and result in global trade moving away from the United States.

If European nations are smart, they should also look toward Russia and China. Trump is likely to come down much harsher on European trade after the U.S. mid-term elections.

Further, reports the Times, recent new US sanctions placed by the Trump administration have cut off some Russian groups from using US dollars, while US senators have threatened to extend those measures to other parts of the country’s economy.

Without mentioning the US currency, Putin said the bilateral talks had discussed measures to combat that threat by using Russian and Chinese currencies for cross-border trade.

“Russia and China have reaffirmed their interest in broadening the use of national currencies in mutual payments. That will strengthen the stability of bank servicing of export-import operations against the backdrop of global market risks,” he said.


1 comment:

  1. Most economically illiterate view this as boastful at best. Truth is even if they show a fractional currency velocity to the dollar .. if it perceived as strong enough there will be a lot of flocking over to the other side almost overnight the way the swamp is pissing off the world these days.

    Once thought impossible will quickly be reality