the end of the petrodollar
Out of context: Reply #11
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- detritus0
What teh says.
It's a lifeline for Russia whcih simply makes it China's bitch, and whilst it's a bit of a financial coup for China, it's a necessity as it spends those 100s of Billions (and more) trying to undo all the environental damage it's inflicted upon itself with the transition from coal.
The only loser here is Europe which has now lost its bargaining chip against Russia and... well, potentially a source of cheap gas.
Either way, the States is happy - here in little Britain, we're importing shitloads of your frackGas. The stupid thing for us is we're now buying dumb nuclear power (not modern, smart nuclear) from France and China, at a ridiculously short-sighted financial rate, as somewhere along the past 30 years we lost our eminence in nuclear power tech.
Ho hum.
- I didn't mean to imply that China was paying itself for Russia's gas ... although, give it 15 years...detritus
- China is emerging as the top nation by design. It will soon try to over take the US in economy, military...yurimon
- Yes, I know. Because it has to, otherwise its internal imbalances will rip it apart.detritus
- Its capitalist model will ultimately prove just as flawed as America's..detritus