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LawLeadsToPeace

LawLeadsToPeace

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FriedButter said:
Cards are still issued under a select number of banks as per the last sentence but they won’t be expanding it to sanctioned banks.
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Yeah and that is still not good for Russia anyway no?
FriedButter said:
I assume this is specifically international transaction but does UnionPay use dollars as their transaction system domestically?
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That’s what I’m thinking too. If I remember correctly, UnionPay is primarily used in China’s market. Based on some quick research, many Chinese people have both UnionPay and Visa/MasterCard; the former is for domestic purchases while the latter is for international transactions. However, it seems that the Russians want to use UnionPay exclusively to get into the Western markets. If so, then the Russians may be overreaching to the point in which UnionPay cannot offer such services thanks to their small share of the international market. Based on that perspective, the sanctions part is just bulls***, and the Russians are still too obsessed with the West. If anybody’s to blame, it’s the Russians.
 
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plawolf

plawolf

Lieutenant General
This is a needlessly weak move by China.

The Biden administration has already a well proven track record of folding when put under pressure.

China should extend UnionPay to Russia, and declare that any US sanctions against UnionPay will be reciprocated by Chinese sanctions against Visa/Mastercard. If the US ban UnionPay, no more Visa/Mastercard in China. See how quickly Biden folds.

The political visit to Taiwan would have provided perfect domestic and international diplomatic cover. You fuck with me, and I will you right back. If the Euros have a problem, China should express is condolences that they are collateral damage but tell them to address their grievances at America for provoking China.
 
manqiangrexue

manqiangrexue

Brigadier
plawolf said:
This is a needlessly weak move by China.

The Biden administration has already a well proven track record of folding when put under pressure.

China should extend UnionPay to Russia, and declare that any US sanctions against UnionPay will be reciprocated by Chinese sanctions against Visa/Mastercard. If the US ban UnionPay, no more Visa/Mastercard in China. See how quickly Biden folds.

The political visit to Taiwan would have provided perfect domestic and international diplomatic cover. You fuck with me, and I will you right back. If the Euros have a problem, China should express is condolences that they are collateral damage but tell them to address their grievances at America for provoking China.
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I feel the same way as you; it always feels better to give the middle finger instead of any concessions but I have to remind myself that China rose so quickly because it gamed the world economic system, not because it played hard ball with every nation that pissed it off. And I can only say again that I hope that there is unseen wisdom here as there usually is to the CCP's moves.
 
LawLeadsToPeace

LawLeadsToPeace

Senior Member
Staff member
Moderator - World Affairs
Registered Member
plawolf said:
This is a needlessly weak move by China.

The Biden administration has already a well proven track record of folding when put under pressure.

China should extend UnionPay to Russia, and declare that any US sanctions against UnionPay will be reciprocated by Chinese sanctions against Visa/Mastercard. If the US ban UnionPay, no more Visa/Mastercard in China. See how quickly Biden folds.

The political visit to Taiwan would have provided perfect domestic and international diplomatic cover. You fuck with me, and I will you right back. If the Euros have a problem, China should express is condolences that they are collateral damage but tell them to address their grievances at America for provoking China.
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manqiangrexue said:
I feel the same way as you; it always feels better to give the middle finger instead of any concessions but I have to remind myself that China rose so quickly because it gamed the world economic system, not because it played hard ball with every nation that pissed it off. And I can only say again that I hope that there is unseen wisdom here as there usually is to the CCP's moves.
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Not exactly. MasterCard was preparing to enter China’s market back in 2020, but the launch date hasn’t been established. Also, Visa isn’t even in China and is still waiting approval from the government. Finally, UnionPay is primarily used in China, not in the international market. IMO, the Russians are demanding something from UnionPay that is impossible to achieve. This is my perspective of it:
LawLeadsToPeace said:
Yeah and that is still not good for Russia anyway no?

That’s what I’m thinking too. If I remember correctly, UnionPay is primarily used in China’s market. Based on some quick research, many Chinese people have both UnionPay and Visa/MasterCard; the former is for domestic purchases while the latter is for international transactions. However, it seems that the Russians want to use UnionPay exclusively to get into the Western markets. If so, then the Russians may be overreaching to the point in which UnionPay cannot offer such services thanks to their small share of the international market. Based on that perspective, the sanctions part is just bulls***, and the Russians are still too obsessed with the West. If anybody’s to blame, it’s the Russians.
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P

pmc

Major
Registered Member
KYli said:
Guess Biden isn't going to get extra oil from ME.
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Russia attempted to presale its oil with upfront payment. Euro, Dollars, Yuan, Lira and UAE's dirham are all accepted tender but preferred ruble.
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Lira is understood but adding UAE dirham is more interesting as it seems Arab world is coming of age as an financial center. there is no need for factories for currency to gain acceptance. now imagine what they can do to Japan now with its depreciating yen. They can bulk order Japanese premium products and sell it to whom ever. if Japanese not agree it will face further tolls on Suez canal and even higher energy prices.
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B

B.I.B.

Captain
Petrolicious88 said:
$300 billion of seized Russian assets will then be used to rebuild Ukraine, and make it a part of the EU. This has always been part of the original plan.
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Recently Elensky has asked the EU/Nato for $50 billion so that he can meet Ukraines general expenses in running the country.Given that will be an annual request for the duration of the war which the West are prepared to let carry on for years, the money will all be gone.
 
O

Overbom

Brigadier
Registered Member
Most probably Australian scaremongering, but it would be based af if this actually happened

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Australia is being warned to expect Chinese ships and aircraft to arrive in Solomon Islands within four weeks under a security agreement that has rocked the federal election campaign and sparked a ferocious Labor attack on the Coalition for waiting too long to try to stop the deal.
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Security experts said the Chinese government would act swiftly to implement the deal by sending military forces to the Solomons during the election campaign in order to capitalise on the caretaker period in Australian politics and match the rapid development of bases in the South China Sea.
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