China says it will work with Russia to create new international order

China says it will work with Russia to create new international order

Wed, September 14, 2022 at 10:51 AM

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FOX

A top Chinese official said that his country will continue its partnership with Russia in the hopes of creating a new international order that will rival western influence.

CNN
In a 5,000-word joint statement, the two leaders declared a friendship with “no limits” and spelled out their shared grievances toward the United States and its allies.

“The world is going through momentous changes,” their joint statement said, noting the “transformation of the global governance architecture and world order.”

More than 200 days later, Xi and Putin are to meet again at a regional summit in the city of Samarkand in southeastern Uzbekistan. Much has changed, but not necessarily in ways China or Russia could have predicted."

An anti-West world order?
Xi’s trip to Central Asia isn’t only about showing support for Putin, though. It is also about strengthening ties in China’s periphery and reasserting Beijing’s global influence.

https://www.foxnews.com/category/world/world-regions/russia

https://www.cnn.com/2022/09/14/china/xi-putin-meeting-sco-summit-analysis-intl-hnk

 

Scary. Maybe not too smart of Xi, either.

 

Thinking about it...Putin might lie awake at night these days. He has spent an awful lot of his military strength in Ukraine. Russia and China have not always been the best of friends. Suppose Xi sees an opportunity.

 

As I said. Xi might see an opportunity.

 

If I'm not mistaken, Iran is joining too.

 

Some party. Are the Iranians bringing the booze? The bongs? Oh... the bombs ... I see.

 

Reuters reported that China told state-owned banks to get ready to sell dollars and buy yuan in an effort to prop up the local currency


"China tells state banks to prepare for a massive dollar dump and yuan buying spree as Beijing's prior interventions have failed to stem its currency's worst year since 1994"

https://markets.businessinsider.com/news/currencies/china-bank-dollar-yuan-currency-markets-economy-beijing-fed-hike-2022-9

 

There used to be two types of yuan. Might still be so. The convertible version is for trade with foreigners and the inconvertible version is for domestic transactions. I used to wonder whether the latter was really money. In a command economy domestic production and direct or indirect rationing of consumer goods probably has more to do with who gets what than possession of slips of paper.

 

I speculate with other countries tied to the USD and the USD being strong against eu, BP, etc. Others will suffer most. China may get initial relief . Either way -rough times.