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Account surplus useless
Russia Economy Thread
- Thread starter NiuBiDaRen
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Can they transfer these funds to place like Sri Lanka and Africa do they can purchase good, and fertilizer.
Let's see the Europeans and Americans sanction that.
Sounds like consumer spending in Russia has come back now that they RUB has gained value and supply chain to Asia has stabilized. Look at that, Chinese export to Russia in July was up 22% over 2021. Remember all that story about China not exporting to Russia as much due to fear of secondary sanctions? I guess they've figured out which markets they can serve without incurring secondary sanctions.
Vladivostok port traffic is another sign of this. I wonder if they can just rail freight all this through China? I guess Russia wants to utilize its own railway system to do the transport
I don't have the Bloomberg article, but definitely sounds like Russia is re-orienting its foreign trade and reserves to CNH. This process has really picked up in the past couple of weeks. Great news for China.
We will see when China is confident about restoring machinery export and investment into Russia. Probably will need to wait until EU sanctions to Russia reducing a little bit.
Vladivostok port traffic is another sign of this. I wonder if they can just rail freight all this through China? I guess Russia wants to utilize its own railway system to do the transport
I don't have the Bloomberg article, but definitely sounds like Russia is re-orienting its foreign trade and reserves to CNH. This process has really picked up in the past couple of weeks. Great news for China.
This is pretty impressive. The overall amount of rubles transacted seems to be the roughly same as pre-war but dollars are being switched to yuan. And Russia switched volume for like 2/3 of transactions to yuan in like just a couple of months time.
This is just another example showing that the Russian financial system is way more robust than Western analysts gave it credit for.
If people need to buy Russian stuff, they don't need the USD or EUR.
The same applies to China.
Russian government allocates 7 billion rubles to fund the development of domestic wafer fabs
According to Russian media reports, the Russian government intends to provide 7 billion rubles (about 770 million yuan) to Mikron, the country’s main microelectronics manufacturer, to help it maintain wafers in Russia. manufacturing facility.
After the news came out, some experts believe that 7 billion rubles is a drop in the bucket to support the development of wafer manufacturing companies. Mikron needs more support to promote the research and development of new processes and new technologies, otherwise the company will stagnate.
Some experts pointed out that there is a serious shortage of personnel in the Russian microelectronics manufacturing industry, and continued state support has raised wages and stabilized the workforce.
According to public information, Mikron is the only company in Russia capable of manufacturing 180-90nm integrated circuits. In April of this year, the company also announced an expansion plan to purchase second-hand equipment to double wafer production capacity. (Proofreading / Wu Shouzhe)