cuenca
So…the US dollar is the world’s “reserve currency”.
Correct. But it’s not a binary thing, but a spectrum. Look at it in the prospective of the last, let’s say, 30 years.
How much has USD declined from usage? How much have the trades in the local currencies increased?
How about the last 2 years in particular? Moreover, the counries of BRICS trade mainly in the local currencies.
Where did you get your information from?
The sanction have “hit” Russia such hard that Putin has been smiling ever since. He’d, perphaps, wish more of the sanctions any day.
Who’s in resession now - Russia or Europe? Europe. Russia, on the other hand, expects the growth of 2-2.5% this year. Higher than previously expected. Higher than US. Even the US firms have forecasted this.
And Russia has been able to localize a lot of manufacturing too, ncluding engines, tourbines and similar hight-tech stuff, thus breaking dependence on the West. Every week there’ll get open new manufacturing.
There’ve been some downsides for Russia too, but mainly - upsides.
Not to mention rushing to switch trade from USD to the local currencies or RMB.
…whilst under 15k sanctions.
Snicky, one-sided reasoning – “Well, Ukraine has done it. But! It’s still Russia who is to blame”. That’s why we have what we do.
If Ukraine hadn’t played with the attempts to join NATO, invited by USA and Europe, Russia wouldn’t have invaded it. If Ukraine hadn’t descriminated the russians in Lugansk and Donetsk for a decade, Russia wouldn’t have invaded it.
