“China has been a supporter of Russia’s invasion but the prospect of economic damage appears to be triggering a change of view. Firms such as Sinopec will abide by Chinese Communist Party foreign policy. Sinopec execs will have received instructions from the CCP on this. Of all the ‘turning points’ touted in Russia’s war on Ukraine the withdrawal of support from China will be a significant one.”
I had just finished seeing a comprehensive analysis of the impact of the sanctions and of companies pulling out and they are just so screwed over. This will be worse than the collapse in 1990.
My “comprehensive analysis” is that your financial posts follow the Mockingbird mass media “rule of opposites” criteria.
Whatever you post here is likely to be the exact opposite of what is going on....