Russia's invasion of Ukraine: Part 5
in War in Ukraine ·
Nicholas Watson said:I was watching some analysis by Peter Schiff where he argues that the West isn't really buying from China so much as they're just borrowing. He was specifically talking about the USA. His point is that since that debt is never actually going to be repaid, it doesn't really matter if these two sides keep dragging each other down into a recession; the end result is pretty much the same.
China is leaning into globalization, so I don't see any massive conflict or war coming down the pike.
That's one way to look at it... but China is just a player in a much bigger game. (And you can't exactly quit the game—you just play.)
Russ, if you've been following along, is telling a completely different story.
Just the same old tale from centuries ago.
By the way—this example pretty much explains it all—the Russian auto industry is basically regressing to 80s tech.
Meanwhile, China... yeah.