Miscellaneous News

The yuan's the new dollar as Russia rides to the redback​

Total transactions in the yuan-rouble pair on the Moscow Exchange ballooned to an average of almost 9 billion yuan ($1.25 billion) a day last month, exchange data analysed by Reuters showed. Previously, they rarely exceeded 1 billion yuan in an entire week.

Indeed, yuan-rouble trading totalled 185 billion yuan in October, more than 80 times the level seen in February when Russia launched what it refers to as a "special military operation" in Ukraine near the end of the month, according to exchange data.

The surge of interest has seen the yuan's share of the currency market jump to 40-45% from less than 1% at the start of the year, said Dmitry Piskulov, international projects head at the Moscow Exchange's foreign-exchange market department.

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Russian Giants want Yuan​

Seven Russian corporate giants, including Rusal, Rosneft and Polyus, have raised a total of 42 billion yuan in bonds on the Russian market, according to Reuters calculations, and the list could grow with No.1 lender Sberbank and oil firm Gazpromneft saying they're also considering renminbi debt.

Until April, Russia didn't even make the top 15 list of countries using the yuan outside mainland China, in terms of the value of inbound and outbound flows, according to data from global financial networking system SWIFT. It has since jumped to No. 4, lagging only Hong Kong and Singapore.

Aluminium producer Rusal, which buys raw materials from China and then sells a large chunk of its finished goods there, told Reuters it had stepped up the share of yuan used in those purchases and sales this year, and that the share would continue to rise, though it declined to provide a detailed breakdown.

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'Abundance of Renminbi'​

Akopian at Caderus Capital said some Russian brokerages reported that their clients were keeping an increasingly large part of their assets in yuan.

The inflows have led to a broad fall in interest rates on yuan deposits within Russia. They range from 0.01% to 2.45% for one-year yuan deposits in Russia, compared with 1.6% for one-year deposits on the mainland, according to Russian banking aggregators and major Chinese banks.

"You can open a renminbi account in most Russian banks already. Interest rates are very low, because there is an abundance of renminbi in investors' pockets," Akopian added. "That's why as soon as any renminbi product comes to the market, it becomes very popular. There's great demand."

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Spoiler: Their Reaction

ACuriousPLAFan said:

Stolenburger literally hinting that unless Russia is disintegrated and destroyed at the end, NATO and Washington DC would keep the wheels of war in Ukraine spinning for as long as possible.

https://twitter.com/i/web/status/1597554271087910912

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ACuriousPLAFan said:

For quite some time, I sincerely believed in the fact that despite how China and the US are going into confrontational and rivalry modes, there still exist a viable chance for both China and the US to coexist peacefully. In that context, while the US would retain their own sphere of influence and hegemony on east side of the Pacific, while China would do her own thing on the west side of the Pacific.

Turns out, nobody in DC is interested in a win-win strategy for both superpowers across the world. They only want to play the zero-sum game, where China must be utter destroyed and disintegrated in order to preserve the present status of the US as the sole superpower and hegemon.

In this context, it isn't wrong to say that London and Brussels shared the same mindset and mentality either, since the US is just a cross-Atlantic territorial expansion and colonized land made by their original European ancestors.

Case-&-point:

https://twitter.com/i/web/status/1597525873493966849

https://twitter.com/i/web/status/1597525879110144000

Note this particular quote by the US ambassador to NATO:


Sounds familiar?

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Simply put, Washington DC, London and Brussels don’t look back at the 19th century with disgust and comtempt. They look back at it with pride and nostalgia where they once ruled the whole world. And they are very delighted and looking forward to repeat it.

And China stands in their way of re-achieving that. So now, they are shifting their attention and focus onto China. They are desperate for China and the Chinese people to suffer in the second round of Century of Humiliation.

Since the founding of the PRC in 1949, they have been:
1. Preventing China from reunifying the final pieces of the Chinese territory and Chinese people on Taiwan.
2. Setting up multiple military bases and stations to surround China.
3. Attempting to cross the Yalu River and invade China proper.
4. Threatening to nuke China if they didn't get their way.
5. Isolating China from the rest of the world.
6. Discrediting and attempting to prevent China from getting back her rightful position in the United Nations.
7. Trying to start a colour revolution in Beijing.
8. Infiltrating China with agents, spies, groups and organizations across China.
9. Flooding China with sexpats who took advantage of the locals during the reopening period.
10. Supporting and backing separatist, extremist and terrorist movements based in Tibet and Xinjiang.
11. Launching cyberattacks against Chinese government and education institutions.
12. Waging trade and economic warfare against China.
13. Conducting propaganda and psychological warfare against the Chinese people.
14. Waging geopolitical warfare against China on BRI across the world.
15. Trying to rally, nudge and even force surrounding countries and the world to disengage with China and stand against China.
16. Launching biological warfare against China through COVID-19.
17. Attempting to destroy the social and community values and fabric of the Chinese people by introducing necon and neolib values.
18. Launching technological warfare against China through various bans against Chinese tech, universities and R&D institutions.
19. Supporting cultist movements and anti-governmental chaos and destruction in Hong Kong and elsewhere across China.
20. Launching anti-Chinese and Sinophobic warfare against the Chinese people across the world.
Etc etc.

Counting everything that happened to China during the Century of Humiliation and before 1949, the list would get even longer.

All of these are BLOOD DEBT incured by them against the Chinese civilization state and the Chinese people.

Eventually, sooner or later, the blood debt must be paid. I hope that I could live and see the day when the blood debt is paid back in full.

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sheogorath said:

The brits seems to be going all in as well

https://twitter.com/i/web/status/1597544480097591296

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Strangelove said:

LOL.... when you think they can't get anymore dysfunctional. They're literally a Monty Python movie.... China better pull all investments out from the UK asap, why keep investment in a 4th world basket case? All their China obsession is too hide their epic domestic failure.

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View attachment 102671View attachment 102672

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sheogorath said:

Stupid news for stupid people.

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China bought out of Sizewell C as UK confirms £700m stake in nuclear project​

Taxpayer money has been used to force China out of investing in Sizewell C, amid rising geopolitical tensions.​

China has been forced out of the Sizewell C nuclear power venture in Suffolk following a £700m investment of taxpayer cash.

The government is spending an initial £679 to help get the long-awaited project going, and confirmed on Tuesday that part of this will go to state-owned China General Nuclear (CGN) under an exit deal.

Downing Street refused to say how much it cost to buy the CGN out, but a government spokesperson said the payment covered China's "exit from the project, including buy-out costs (and) any tax due and commercial arrangements".

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