Now there is so much news coming in that it really starts a roller coaster in my head.
But one piece of news stuck with me today and won’t let go.
Another confirmation has come that China is a dubious partner for Russia, it is rather a beneficiary of the current financial crisis and not only the Russian one.
🔥China continues to knock out discounts from Russia and buy up resources in huge volumes. Only in the second half of April Russian metallurgists exported 400 thousand tons of steel to China, which is five times more than in the whole of 2021, according to RBC. In the Chinese market, Russian steel is sold at a discount of up to 25% compared to products from Malaysia and Indonesia.
At the same time, exports from China to Russia, on the contrary, decreased: according to data for April, by 26%
You can also add data on the export of gas, oil, etc., in general, exports from Russia practically did not decrease, it is possible that, on the contrary, it increased slightly (some data simply is not available), and, in theory, they earned a record amount of currency (which explains why dollar and euro fall like that)
while imports fell, and strongly – from the EU, for example, by 55%, from the USA in general by 5 times.
… And the incomes of the population have fallen – in many industries there are cuts – wages and personnel, due to increased costs. Some businesses are moving to a 4-day work week. 30% of people stopped visiting malls altogether, etc.
From this follows a completely direct question: where is the money?
A huge amount of resources is pumped out of the country in exchange for the same record amount of money, but almost nothing reaches the population.
Where is it all going? On your own?