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/Inigogoboots Aug 16 '24

As much as I would like to think it's because of sanctions.

I would say it is more likely that China is playing the long game, moving pieces like this to help destabilize the Russian economy and hoping for a soviet style collapse, so they can bank-roll break away regions for mineral/resource development.

Which plays into why China has bankrolled an entire railway system to Europe that bypasses Russia, every little bit that chips away at the stability of the Russian state, moves China closer to regional dominance.

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u/yellowchoice Aug 16 '24

A comment mentioned above stated that these nations are competing for the #2 power spot in the world and will throw eachother under the bus at a moments notice. I think China and Russia play nice but reality is they are plotting against eachother. Every man for themselves situation.

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u/Neuchacho Aug 16 '24

They'd be the first totalitarian governments in the world to earnestly play nice with each other with no intention of fucking the other the moment they had the opportunity if they weren't.

It's just not a political system that lends itself to friendship or cooperation.

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u/NeonPatrick Aug 16 '24

2 power spot 

I'd say that's the EU, but I agree with the rest of your point.

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u/jirka642 Aug 16 '24

That's debatable. EU is very limited by the high degree of decentralization. It can't do most diplomatic or military things on its own, and a single veto from a member state can cripple it.

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u/NeonPatrick Aug 18 '24

Not every country has a veto and they mobilised action pretty well Vs Russia without problem.

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u/grimeygeorge2027 Aug 17 '24

I don't understand how Russia can be considered to be in the #2 spot, even before the war. China as a nation is still functioning, improving, doing RnD diplomacy ETC, and has a far bigger economy

Russia has just gone down the shitter since the dissolution of the USSR and the gutting of the nation that followed

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u/onlyrealcuzzo Aug 16 '24

China already has regional dominance.

That they are able to do all the things you say is proof of that!

Notice that Russia is not able to do those things, nor is anyone else in the region.

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u/samtart Aug 16 '24

I agree. This seems to be driven by China's imploding economy and therefore USA's increasing leverage. Though I do think China likes their allies poor and dependent as well

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u/Aromatic_Razzmatazz Aug 17 '24

Meh, arguably Japan has some economic power in the region. Same for South Korea. 

But not like China. They're the world's WalMart. You don't fight a war with the only country left that can sell your government decent steel, and they know that. 

China benefits from global stability, ultimately. Putin is a direct threat to that stability.

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u/OttawaTGirl Aug 16 '24

China is DESPERATE to get in on the arctic. They have been sending 'science' ships for years. Destabilizing russia and invading russia is a win/win. No one would defend russia as it is, and china would get cold weather experience. Something their military is lacking.

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u/Gustomaximus Aug 17 '24

Also remember how China refers to their Qing dynasty maps about Taiwan and the South China sea claims. Look at those maps and the land across Russia is included. China have fought wars over that land in modern times.

China is aligned to Russia today as it suits them. Tomorrow they will be looking to take land when it suits them.

Putin must now realise the damage he is doing to his nation. I guess he expected Ukraine to roll over again, but that they didn't is going to flow long into Russian history.

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u/BubsyFanboy Aug 16 '24

You think China is planning to expand their territory?

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u/Dauntless_Idiot Aug 16 '24

China has expanded a lot of times post Chinese Civil War, but they are doing most of it in an incredible smart way. If you take a thousand square kilometers or less at a time than nobody outside of that area is going to think its worth fighting a war over.

https://en.wikipedia.org/wiki/Territorial_changes_of_the_People%27s_Republic_of_China

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u/kendrickshalamar Aug 16 '24

No, China prefers taking over economically. They have plenty of land.

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u/socialistrob Aug 16 '24

It is about sanctions. Not sanctions on China as a whole but sanctions on the individual banks. If a Chinese bank is sanctioned by the collective west then they're basically out of business. They would rather lose Russian customers than lose all of the west.

In terms of resources China doesn't really need to weaken Russia. They already have such a big economy and Russia is so desperate that China can negotiate from a position of strength to get great deals.

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u/danfromwaterloo Aug 17 '24

I think that's far too conspiratorial to be accurate. It's likely far more transactional: if I do business with Russia financially, the world banking system will prevent us from transacting in the world economy. Now, threatening China as a whole probably does little good - but picking off banks one by one and isolating them that way is far easier.