Share
14,044 Posts.
lightbulb Created with Sketch. 140
clock Created with Sketch.
06/05/24
23:07
Share
Originally posted by Mrbronoc:
↑
(a) State capitalism: Both Russia and China have adopted forms of state capitalism where the state plays a significant role in the economy. (b) Authoritarian regimes: While both countries have centralised political systems, it’s important to note that China’s political structure differs significantly from Russia’s. (c) Shared concerns about the USA: Both countries have expressed concerns about US policies and actions that they perceive as threats to their interests. (d) Economic interdependence: Russia possesses abundant natural resources that China requires, while China’s manufacturing capabilities provide goods that Russia needs. (e) BRICS membership and de-dollarisation: Both Russia and China are part of the BRICS group and have shown efforts to reduce reliance on the US dollar in international trade. (f) Development of a gold-backed BRICS currency: There have been discussions and proposals regarding a gold-backed currency within BRICS, but as of now, it has not replaced the USD in trade settlements. (g) Russia’s involvement in Belt and Road Initiative (BRI): Russia has expressed support for certain aspects of the BRI, but it’s not a formal member of the initiative like China. (h) Mutual assistance between China and Russia: Both countries have pledged mutual support, but the context and extent of this cooperation can vary depending on the specific circumstances.
Expand
(d) Economic interdependence: Russia possesses abundant natural resources that China requires, while China’s manufacturing capabilities provide goods that Russia needs. Those are exactly the same reasons why Australia will never sanction China, but we are happy to sanction Russia, which is completely ludicrous. We don't do any trade with Russia, we compete with them actually in resources trade.