Only during the first week after the people’s Bank of China cut the yuan to the US dollar, Russia has lost on investments in Chinese national currency $8 billion as the Central Bank of the Russian Federation “punish US” by not using their currency and invested in a “friendly” Chinese yuan. It is curious that the yuan would prefer not to use even in Hong Kong and Macau administrative regions of China, where in the course of own money: Pataca and Hong Kong dollar. Their rate is pegged to the Euro and the us dollar than the Renminbi. Know something economically successful regions of China…
“The enemy of my enemy is my friend”? But in the economy, and in modern politics, the mechanisms are not so straightforward. It is impossible to build an economic policy on Proverbs and political manifestos. And the crazy strategy of trying to stop a freight train using a genital organ, without a doubt ambitious, but it leads to results opposite to expectations.
Yes, the Russian economy, being under US sanctions, seeking to diversify risks and to minimize dependence on the dollar. USA and China lead to trade war. That is, the celestial Empire — the enemy of the enemy. But he is not obliged to consider himself our friend. All their interests. And the task of decision makers is to take care of the interests of our economy, building the correct predictions, not to make Polish farmers will have apples that are suddenly banned in Russia.
In 2017, the Central Bank of the Russian Federation, according to its own rate forecasts has reduced the share of euros in foreign exchange reserves (GCR) from 32% to 21% and the “shift” in dollars. Summary: the gold reserves of Russia decreased by $4.5 billion Now get rid of dollars, go into the yuan. The result: -$8 billion And this is not taken into account losses in the transfer of the same yuan back to dollars… the devaluation of the yuan hand — made, made by decision of the Chinese authorities. And this decision was quite predictable.
Surprisingly another. Decision-makers, top managers of the Central Bank of the Russian Federation — in bonuses and benefits. And the citizens — the devaluation of the ruble, raising the retirement age, the lack of increased spending on education and healthcare and other obscurantism…
Oleksiy Filatov, the President of the Union of Officers of the “alpha”
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