One of the LOLberts in the Digital Nomad/Nomad Capitalist sphere cut a brief video about the economic consequences of the Ukraine War.
He's right. This is a win for China, and will contribute to the CCP's aim of replacing the US Dollar as World Reserve Currency.
China has its own replacement for the SWIFT system in the Cross-Border International Payment System (CIPS), which uses its own network of processors and so on to replace Western institutions while using the same syntax as SWIFT. China has alternatives to Mastercard, Visa, and American Express as well as payment processors to push the currencies around digitally.
In short, China stood to gain big from Globohomo economic sanctions against Russia and gain it has. Other countries--such as India, another emerging power--have wisely decided to remain neutral and thus will also faciliate trade with Russia. This is the emerging middleman niche I've talked about previously, and as the stupidity of Globohomo breaking its global power base out of spite becomes apparent and the population at-large realizes that we're reverting back to the mean of a multi-polar world order, you're going to see this felt in everyday life more and more.
This is, however, a Let Them Fight scenario. We have two very nasty parties, neither them good to their own people or those they claim to represent, squaring up to fight over who gets to be the big dog on the block and put the boot to the face of all of us for the foreseeable future. The practical advise I can give is to do what you can to (a) get out of the way and then (b) ensure that this fight goes on long enough to exhaust both sides utterly into collapse. You want to be in the liminal spaces between and about them, and not firmly within either sphere.
Empire is falling. Take your own side, and push it off the cliff.
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