It is happening quickly as the New World Order, of a Western New World Order, along the lines of 1984 and an Eastern New World Order, are getting set. China's President Xi Jinping had a two-day visit with President Vladimir Putin. The key note of issue was this ending conversation: “Xi Jinping: "Change is coming that hasn’t happened in 100 years and we are driving this change together."
Putin: "I agree." This was not idle words as Russia, now removed from Western financial networks and the U.S. dollar, has embraced the Chinese yuan with a passion. Energy exports are now mainly paid in yuan, and soon everything will be.
The Ukrainian conflict is digging a grave for the West. But, the Ukraine for the elites is worth losing everything for. One has to ask: why? What is hidden in the Ukraine?
It is a challenge for the ordinary person to deal with such events; as I see it one can only prepare for family and local community survival:
https://www.youtube.com/watch?v=3l6sdrPfuWE
China's President Xi Jinping has arrived back in Beijing after his two-day visit with President Vladimir Putin over the China-proposed Ukraine peace plan. On the Ukraine crisis, there was nothing that can be considered a breakthrough, but the talks did prompt swift reaction from Washington.
More important are the broader implications of the two 'dear friends' pledging to shape a new world order and signing multiple pacts on economic, technological, and strategic cooperation. These were the words captured in a Reuters headline Wednesday... "China's President Xi Jinping and Russia's President Vladimir Putin set their sights on shaping a new world order as the Chinese leader left Moscow, having made no direct support for Putin's war in Ukraine during his two-day visit." Arguably the most important exchange came during the sendoff before Xi's entourage headed to the airport, and was captured by (or rather intended for) the cameras...
Xi Jinping: "Change is coming that hasn’t happened in 100 years and we are driving this change together."
Putin: "I agree."
Putin had told Xi that the peace plan "correlates to the point of view of the Russian Federation"; but the message out of Biden officials was "don't be fooled" as it's all about Moscow seeking to "freeze the war on its own terms," in the words of Secretary of State Blinken. Also on Tuesday, NSC spokesman John Kirby said China is not an impartial mediator and that China "keeps parroting the Russian propaganda".
On Wednesday the Chinese foreign ministry hit back, charging that Washington is "adding fuel to the fire" of the conflict by its "continuous supply" of weapons to the battlefield. Spokesman Wang Wenbin was asked directly about Kirby and Blinken's comments from the day prior.
"The US side claims that China's stance isn’t impartial. But is it impartial to continuously supply weapons to the battlefield? Is it impartial to constantly escalate the conflict? Is it impartial to allow the effects of the crisis to spill over globally?" Wang said.
"We advise the American side to rethink its own stance on the Ukraine issue, turn away from the erroneous path of adding fuel to the fire, and stop shifting the blame to China," he added. The spokesman further insisted Beijing has "no selfish motives on the Ukraine issue, has not stood idly by... or sought profit for itself," but that "what China has done boils down to one thing, that is, to promote peace talks."
He went on to assert that contrary to popular assumptions in the West, the global community stands by China on the side of diplomatically pursuing peace. According to a transcript:
On the Ukraine issue, voices for peace and rationality are building. Most countries support easing tensions, stand for peace talks, and are against adding fuel to the fire. This is also China’s position. President Xi Jinping’s visit to Russia is a journey of friendship, cooperation and peace. It has been warmly received internationally. We call on the US to reflect on its own role in the Ukraine issue, stop fueling the flames, and stop deflecting the blame on China.
Wang spelled out that "We will continue to stand firm on the side of peace and dialogue and on the right side of history and work together with the rest of the world to play a constructive part in facilitating a political settlement of the Ukraine issue."
To the surprise of many, Ukraine's President Zelensky on Tuesday invited China to start talks on a path forward based on offering a "Ukraine formula" for peace negotiations. It's unclear what Beijing's response will be, but it was widely seen as an unexpected and positive overture. It has also become clear that whatever peace talks might come to fruition involving China mediation, the US is not going to lead, but will likely be sidelined - despite the closeness to Kiev.”
https://www.wsj.com/articles/russia-turns-to-chinas-yuan-in-effort-to-ditch-the-dollar-a8111457
“Russia’s economy, restricted from Western financial networks and the U.S. dollar, has embraced a burgeoning alternative: the Chinese yuan.
Energy exporters are increasingly getting paid in yuan. Russia’s sovereign-wealth fund, a war chest to support government spending burdened by battlefield costs in Ukraine, is using the Chinese currency to store its oil riches. Russian companies have borrowed in yuan, also known as renminbi, and households are stashing savings in it.
The Chinese currency’s rise inside Russia deepens ties between two countries that have long rivalled each other for global influence but have grown closer amid shared discontent with the West. It also serves China’s long standing but mostly frustrated campaign to make the yuan a more prominent feature of global finance and commerce.
Share of currency in Russian export settlements Source: Central Bank of RussiaNote: 'Other' category is primarily made up of Russian ruble settlements.
Moscow has jettisoned concerns about giving China too much leverage over its economy, said Alexander Gabuev, a senior fellow at the Carnegie Endowment for International Peace.
“Now it’s the only rational choice for Russia and for Putin,” Mr. Gabuev said. “If depending on renminbi is the lifeline that helps you to be less exposed and less dependent on hostile currencies, then you take this route.”
A spokesperson for the Russian Ministry of Finance said the yuan is “taking an increasingly important role” in its sovereign-wealth fund, which doubled the share of yuan it can hold to 60% in December. The ministry started selling yuan in January to plug its widening budget deficit.
Composition of Russian central bank reserves as of June 2021Source: Central Bank of Russia
The share of Russian exports paid for in yuan rose to 14% by September, according to data from the central bank. That is up from 0.4% before the start of the war.
Spokespeople for China’s central bank didn’t respond to a request for comment.
Russia began cutting its dependence on the dollar in 2014 after its annexation of Crimea. By 2018, as the U.S. imposed additional economic sanctions, the country began to sell its holdings of U.S. Treasury bonds and explore trade in rubles and other currencies.
De-dollarization went into overdrive, and widened to include the euro, last year. Western countries froze some $300 billion of Russia’s foreign reserves and banned some of its banks from the SWIFT messaging system that underpins most global payments in response to Russia’s invasion of Ukraine.
Russians don’t face an outright ban on using dollars or euros, and non-sanctioned banks continue to do business in foreign currencies.
Booming trade between Russia and China added to the yuan’s appeal. China has become a major buyer of Russian oil that is shunned by the West, while Russia has grown more dependent on China for semiconductors and other technology.
Russian companies have also turned to the yuan and issued bonds in the Chinese currency worth the equivalent of more than $7 billion last year, according to Refinitiv data. In recent weeks, the yuan-ruble was often the most traded currency pair on the Moscow Exchange based on daily volume.”