Chinese investors who once bought New York City hotels and other Western assets are placing their money elsewhere, including Indonesia’s nickel industry.
Ha, on a serious note though, decoupling from the west as quickly as possible is the only rational option for China. Even if the west wasn’t trying to wage an economic war, it’s pretty clear that there’s a repeat of the 2008 crisis looming. Being dependent on the western economic system is a huge liability.
It’s kind of funny how history rhymes. As I recall, USSR was sanctioned by the west when the great depression hit, and its economy was largely unaffected by the crash because of that, which gave it a lot of legitimacy at the time.
Seems like now we’re looking at a repeat of that happening, except now there’s a whole BRICS economy that’s going its own way. Once the west crashes, that’s basically going to discredit western economic system for the rest of the world.
it struck me both because it happened right after I posted my reply (went from around 4 to 17), and it’s a lot higher than the number of upvotes on the post itself, which (AFAIK) is unusual
I wonder why Chinese capitalists would be… huawary of the West
please clap
Ha, on a serious note though, decoupling from the west as quickly as possible is the only rational option for China. Even if the west wasn’t trying to wage an economic war, it’s pretty clear that there’s a repeat of the 2008 crisis looming. Being dependent on the western economic system is a huge liability.
of course, Amerika’s treatment of Chinese companies is only one of many reasons to dedollarize
It’s kind of funny how history rhymes. As I recall, USSR was sanctioned by the west when the great depression hit, and its economy was largely unaffected by the crash because of that, which gave it a lot of legitimacy at the time.
Seems like now we’re looking at a repeat of that happening, except now there’s a whole BRICS economy that’s going its own way. Once the west crashes, that’s basically going to discredit western economic system for the rest of the world.
yeah, they’ve sanctioned so many countries with such an important role in production that it’s backfiring hard
(side note:
either there’s a bug afoot or you got those upvotes really quickly)
Friendly-fire ratio’d
it struck me both because it happened right after I posted my reply (went from around 4 to 17), and it’s a lot higher than the number of upvotes on the post itself, which (AFAIK) is unusual
Maybe Yogthos is just really popular/s
Yogthos is the spectre of gommusim haunting lemmy.ml