WNU Editor: I have been following Neil McCoy-Ward since last year, and he always provides good sound and objective analysis on markets and economic trends. As for the above video, his understanding on how these sanctions will impact Russian oligarchs, the Russian economy, and the average Russian on the street is spot on.
He is also right that China will cushion much of the economic impact from Western sanctions. He is also right that should China be convinced by the West to impose severe economic sanctions against Russia especially booting them out of China's equivalent of SWIFT, the Russian economy will be in serious trouble.
But I agree with Neil McCoy-Ward. that the Chinese are not going to burn relations with their most important ally, and I would not be surprised if China will work hard to take advantage of the situation to even further enhance their ties with Moscow.
4 comments:
I would be surprised if the chinese didn't buy up long term fossil fuel deliveries, among other items the ivan's need to unload.
Seems pretty likely in terms of long term fossil fuel deals.
Ah one of these, "We need to stop the conflict, we need to stop the war," but then says, "the sanctions are hurting the people!"
Well yeah. Economic sanctions that are effective, are going to end up hurting the people in Russia. The hope is this might create fuel for change, strive them towards directing that anger towards their government.
You can't stop the conflict, can't stop the war without pressure, and even then that may not be enough for Putin.
As the WNU Editor is so fond of saying, Putin's main base of support depends largely on how the economy is doing.
I feel like the video analysis doesn't take in the reality and true aim of the sanctions, and it doesn't have much of a basis in reality. He's not wrong, but he misses the point entirely.
The sanctions are working; yeah, it's dreadful that the common russian people are hurting, but it is also awful that their country is now at war. There's a price to be paid for that.
The sad truth is that the sanctions will target innocents, but that's economic war for you and the hope is that it will stir unrest in Russia. I imagine it will.
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