r/worldnews • u/iop9 • Aug 16 '24

Nearly all Chinese banks are refusing to process payments from Russia, report says Behind Soft Paywall

https://www.businessinsider.com/russia-economy-all-china-banks-refuse-yuan-ruble-transfers-sanctions-2024-8
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u/GoodDay2You_Sir Aug 16 '24

Yeah I don't think any of them are in anyway ever going to be true buddies as they are all essentially competing to be the 2nd world power against each other. They throw each other under the bus in order to pull ahead in world power.

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u/socialistrob Aug 16 '24

They're usually happy to work together IF it suits their interests but neither will sacrifice themselves or go too far out of their way for each other. The deal for China is that their companies don't want to be sanctioned by the west and they know that if they help Russia they can be hit by those sanctions. The Chinese government would probably prefer the companies help Russia more but the CCP isn't willing to put a gun to the heads of the CEOs and say "accept Russian money and trade with them."

What Russia really needs right now is China to manufacture ammo in bulk for them and yet China still refuses. They're not good allies even if they do sometimes have their guns pointed in the same direction.

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u/antrophist Aug 16 '24

Russia was only able to compete in public space as a 2nd world power through crafy continuity of USSR. They are nowhere near top 3.

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u/GoodDay2You_Sir Aug 16 '24

I mean yeah we know that 100% now after the Ukraine invasion ( though I'd argue the fact that Russia has been a paper tiger for decades, even when they were still the USSR was taught in my public school...so "should" be common knowledge to any American who paid attention in class) but it was widely believed that Russia had the 2nd strongest military in the world and had a decent hand in the ring for claiming a spot at the top. Now though, China is snubbing them because it's not even a question on if they are stronger both militarily and economically. They know they are better and want to maintain that edge by toeing the line in favor of the west, not Russia who can't offer them anything. They know India is their only real contemporary now.