Tag Archives: European union

Does China’s Friendship With Russia Really Have ‘No Limits’? | OilPrice.com

https://oilprice.com/Energy/Crude-Oil/Does-Chinas-Friendship-With-Russia-Really-Have-No-Limits.html

As this article shared in the link states , China is in a precarious ( careful ) position to remain neutral during Russian and pro-west Ukraine ( that is supported by European nations and USA economically and military-wise). Despite the fact that China looks towards a multipolar world coordinating with Russia , China has among one of its best interest to please its the European Union and USA who remain a huge market for Chinese exported goods and services worldwide in comparison to the Russian market .

Although China can still import oil and gas in a legal way making a way around western economic sanctions against the Russian Putin regime , China still has to coordinate with the European Union and USA as they have are very large importers or customers buying Chinese goods . China can not exceed certain limits concerning its political and economic ties with Russia .The west is proposing to get energy supply to substitute Russian fossil fuels with alternatives be it fossil fuels , green hydrogen , renewables, biofuels or whatever they can .In that manner , China is doing what it can to stay neutral and have a healthy balance its stance between its relation with The western world versus Russia …The western world has great economic power and technological innovations that are influential and large with all respect and love to all countries and nations , both developed and developing ones .

Note : I am from Lebanon and I know that Russia has great economic , technological and military power but generally speaking Russia is still a rising power that has less economic , technological and financial power than the Western liberal world with all its allies in relative comparisons. Many Russian scientists do leave Russia ( that has an autocratic regime ) to other countries where they are paid much more in other European nations , Australia and North America enjoying more liberties there .

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Will The Euro Currency Persist?

The European Union and specifically the Euro zone have no good or interest in banishing (getting rid) of the unified currency called “Euro”. The Euro is an important sign of the unification of the economies of 17 European countries giving them more competitive advantage in comparison to many rising and developing nations in the world as well. Second, it is a better way for them to open up their borders for transfer of goods, services, labour, and skills among them. Then, this is a manner for those countries whether advanced like Germany, France and Holland for instance or less developed (with all respect) in Europe like some countries in Southern Europe to stay protected from both inflation and recession. These are some advantages of the Euro currency, which faces some challenges now and countries adopting it are trying to resolve the problem of accumulated public debt.

Continue reading Will The Euro Currency Persist?