The Yuan Ruble

Yep that too is pegged. LOL Can China even have an economy on its own merits?

NYT snippet:

China widened the trading band for the yuan-ruble exchange rate, as the Russian currency’s collapse has dented trade between the increasingly close partners.

Speaking last night to my neighbor an MBA with a Fortune 500 company. They need time but see the writing on the wall and are pulling out of China.

We have used them for cheap labor and to pollute over there not here. We are done with all of it.

The real export froth in the Chinese economy is coming from western multinational corporations. Yes Chinese corporations are trying to gain that. Yes China internally is a major economy. Time to leave and turn off the lights on the way out.

There has been some discussion on NPR and other media outlets about the Yaun and Ruble situation. The popular opinion seems to be that China is trying to be careful because of the business reaction to Putin’s War. While Russia does give some trade to China it doesn’t come close to the amount of trade to the rest of the world.

The Chinese are smart business people and won’t jeopardise their income stream if Putin wants to destroy Russia’s economy.