I was hoping more of this discussion would be published, but alas only Putin’s introductory remarks are available before the report by Finance Minister Siluanov.
"If a new international financial and trading system is announced at Kazan in October, I don’t expect it to help or hinder Russia’s economy."
Why does this not bring any advantages for Russia? Isn't this about connecting the various national digital payment systems with each other and introducing digital central bank money? If so, I would like to ask something else. Why did various Chinese banks sabotage payment transactions with Russia out of fear of US sanctions? Were these really independent decisions by private businessmen and does the Chinese government not have ultimate influence over everyone and everything in China? Or is there intrigues behind the scenes? It's not all sunshine and roses. Sergei Yuryevich Glazyev is often very critical.
Russian economic growth is mostly fueled by its internal markets and development investments, which is why I don't see the new payment system having much impact as Russia's already using something similar.
"If a new international financial and trading system is announced at Kazan in October, I don’t expect it to help or hinder Russia’s economy."
Why does this not bring any advantages for Russia? Isn't this about connecting the various national digital payment systems with each other and introducing digital central bank money? If so, I would like to ask something else. Why did various Chinese banks sabotage payment transactions with Russia out of fear of US sanctions? Were these really independent decisions by private businessmen and does the Chinese government not have ultimate influence over everyone and everything in China? Or is there intrigues behind the scenes? It's not all sunshine and roses. Sergei Yuryevich Glazyev is often very critical.
https://t.me/glazieview
To be honest, I still don't fully understand a lot of things.
"IMO, what will help is the establishment of a BRICS Commodity Exchange where pricing will be done in currencies other than the dollar, yen and euro."
This will shake the world as we know it.
Russian economic growth is mostly fueled by its internal markets and development investments, which is why I don't see the new payment system having much impact as Russia's already using something similar.
China just moved some of its most competent senior officials to their side of the border. That area will boom.
your notes at the end are helpful karl.. thanks..