On the June 12th 2024 the Moscow Exchange (MoEx) suspended trade in dollars and euros. The Western media reported a collapse of the Russian banking system. Propaganda. The suspension was in view of the sanctions introduced by the USA, and which became effective on the 13th June 2024. The MoEx now mainly trades in the Chinese currency: Yuan.

 

The Yuan and the Dollar are effectively anchored since 2008. One dollar is worth between 6 and 7.4 yuan since the last 16 years. A remarkable sign of stability. If the Yuan is the most traded currency in the Moscow Exchange, it means that the trade depends on the constant value of both Yuan and Dollar. The only difference is that to obtain dollars, Russia will be obliged to trade through China.

 

Russia has gained autonomy and lost independence.

 

It has given its family jewels to China.

 

The Russian Federation has given 32 million hectares of agricultural land . It has conceded the port of Vladivostok. It has given away a disputed island near Khabarovsk on the Amur river. It has granted the reconstruction of large parts of the Trans-Siberian Railway (China's conquest of Russia 27.10.23).

 

Putin has visited Being and stated that one of Russia’s most glorious historical figures simply submitted to the Mongols. He added that it was the same situation today (Russia’s submission to China 10.11.23).

 

After economic annexation, there is political vassalage. Russia today has no foreign policy and no internal market. China has a veto and the power to decide in Russia.

 

The Chinese leadership has a good memory. The Sino-Soviet split which lasted 1961-1989 was extremely important to establish present day China. During that time Mao could make this sort of statement:

 

‘The present day Soviet Union is a dictatorship of the bourgeoisie, a dictatorship of the big bourgeoisie, a German fascist [type of] dictatorship, a Hitler-style dictatorship’ (Mao Zedong May 1964).

 

When the Soviet Union invaded Czechoslovakia in 1968, the term ‘imperialist socialism’ became popular in China.

 

Mao Zedong in 1956 wrote:

 

‘we have done better than the Soviet Union and a number of Eastern European countries. The prolonged failure of the Soviet Union to reach the highest pre October Revolution level in grain output, the grave problems arising from the glaring disequilibrium between the development of heavy industry and that of light industry in some Eastern European countries - such problems do not exist in our country... The Soviet Union has taken measures which squeeze the peasants very hard... This method of capital accumulation has seriously dampened the peasants' enthusiasm for production. You want the hen to lay more eggs and yet you do not feed it, you want the horse to run fast and yet you don't let it graze. What kind of logic is this’  (Mao Zedong 25th April 1956 in Peking Review, no. 1, 1977, pp. 11, 15).

 

These sorts of opinions and texts have been circulating and studied in China for many decades. The average Chinese bureaucrat who knows his Mao Zedong quotations will be aware of such ideas.

 

The Russians have presented themselves as more developed and advanced than the Chinese. China now has the upper hand, and it decides.