Where’s China stand to profit from all this ?
I guess that depends whether those contracts for oil and gas between China and Russia are denominated in rubles or RMB.
As our economy tanks, so does china’s. If there is no demand, there’s no reason to produce. It’s that simple.
China will get very cheap gas, as it will become the primary export market for Russian gas. And the yuan will become more important in international trade, as Russia is locked out of the dollar based system of payments.