“Russian banks say they’ve run out of yuan as Chinese firms pull away from the nation”
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Yes, this is being confirmed everywhere now. Looks very bad for Russia.
And to top it all they are at about 10% inflation rate right now., expected to increase to 12% soon.
And they have burned through half of their liquid assets.
The implosion of Russia has begun.
I don’t think the implosion of Russia has begun. Russia in its history goes for a long time before it collapses suddenly, in months. That’s because of its autocratic style of government where everyone pretends the Tsar is wearing fine clothes until one day suddenly everyone knows the Tsar is naked.
It never is gradual in Russia’s case.
Democracy allows for a gradual decline, even a flawed democracy will have a slow implosion.
An autocratic governance implodes suddenly and that’s Putin’s style of governance