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Russian sanctions significantly devalued the ruble, but Russia’s requirement to pay Russian gas with the ruble and pegging the ruble to gold have stabilized the ruble-dollar exchange rate. Can Beijing require yuan currency for Chinese exports? Can the CCP counter sanctions by pegging the yuan to gold? Who has the largest gold reserves in the world?
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We discuss world economy, history, and politics. Our main focus is U.S.-China relations. We make short videos and tell you the hidden stories.
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References:
https://inf.news/en/taiwan/9159a0850105b4b3f5b6c5b1f757018a.html
https://www.statista.com/chart/18278/global-rare-earth-production/
https://www.npr.org/sections/money/2022/04/05/1090920442/how-russia-rescued-the-ruble
https://www.wsj.com/articles/what-sanctions-mean-for-russias-140-billion-in-gold-11648168459
https://www.bullionstar.com/blogs/ronan-manly/russian-ruble-relaunched-linked-to-gold-and-commodities-rt-com-q-and-a/
https://data.worldbank.org/indicator/NE.EXP.GNFS.ZS?locations=RU
https://www.scmp.com/economy/china-economy/article/3141844/chinas-rare-earth-exports-surge-past-pre-coronavirus-levels
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