Russia truly lives up to its reputation as a nation of warriors!

A tough guy is a tough guy, that's who dares to provoke me, I will fight to the end with whoever it is, no matter who the opponent is?

After the conflict between Russia and Ukraine, the United States froze Russia's $300 billion in assets and kicked Russia out of the SWIFT settlement system, Russia immediately began to liquidate its US dollar foreign exchange reserves.

The implied meaning is that from now on, you play by yourself!

In fact, since 2014, Russia has been deliberately de-dollarizing and increasing its gold reserves.

Because the United States' behavior of cutting leeks around the world is like "the heart of Sima Zhao is known to all passers-by", but Russia dares to think and do it!

Advertisement

Originally thought that this matter would end here, but did not expect that this is just the beginning.

In order to take sides, EU countries also followed the United States to impose sanctions on Russia's energy.

The EU is enjoying the dividends of cheap Russian energy, and at the same time shouting at Russia, who can bear this breath?

According to the Russian News Agency report, now the Russian Ministry of Finance has announced plans to adjust the new legal asset structure of the Russian National Wealth Fund in 2023, increasing the upper limit of the RMB share to 60%, the upper limit of gold to 40%, clearing the euro share in the National Wealth Fund, and the balance of pounds and yen accounts will also be zeroed out, only retaining gold, rubles, and RMB.

The previous shares of RMB and gold were 30% and 20% respectively.

According to official data, as of the end of last year, the Russian National Wealth Fund's financial accounts held 41.892 billion euros, 2.77 billion pounds, 478.478 billion yen, 309.72 billion RMB, 242.7 million rubles, and 555 tons of gold.

This means that Russia will increase its RMB foreign exchange reserves to 600 billion yuan in the future.

The purpose of Russia's move is very obvious, that is, to say goodbye to the United States and the EU completely.

In the future, Russia will not expect to import any products from Western developed countries led by the United States; and Western countries want to import energy and food from Russia, either in rubles or in RMB, only two options.

Speaking of this, I have to mention the EU this big fool.

The EU originally thought that by patting the United States' horse's ass, the United States would give more support to the EU, but in turn, the United States gave the EU a "fighting between the clam and the snipe, the fisherman benefits".

First, it sold energy to the EU at high prices, and then through the "Inflation Reduction Act" it hollowed out European industry.

If one is willing to fight and the other is willing to suffer, it would be fine, but now it's good, Russia has also given the EU a bottom line, that is, to clear the euro, and completely give up the hope of doing business with you, the EU.

The EU in this round of games is really not pleasing to both ends, and this big fool is indeed a bit of a fool.

In turn, let's talk about Russia.

Giving up the United States is also fine, why did it suddenly give up the idea of joining Europe after working hard for decades?

Not only not joining Europe, but also drawing a clear line with the EU?

That is because Russia is completely disappointed with the Western countries led by the United States.

As the saying goes, the West is not bright, the East is bright, there is always a side where the sun comes out.

Can't I live without you, the United States and Europe?

Russia's move to increase its RMB foreign exchange reserves has also officially shown its cards to the world, and in the future it will become a close friend with China and shift the focus of trade back to Asia.

Russia's move is also reasonable.

First, because Asia, led by China, has made rapid economic development in the past few decades.

Especially during the epidemic, China has become a unique one among the global economies.

Morgan Stanley, an American investment bank, said in its "2023 Global Macroeconomic Outlook" released a few days ago: The overall driving force of global economic growth in 2023 is insufficient, but inflationary pressure will decline significantly, among which the Asian economy is the most optimistic and will become the main driving force of global economic growth.

Goldman Sachs directly stated: China's economic growth potential is obviously higher than that of the United States, and China is expected to end the United States' long-term status as the world's largest economy by 2035.

Economist Daly also said: It is predicted that in the next 30 years, the weight of global GDP will shift more to Asia, and by 2050, the world's top five economies will be China, the United States, India, Indonesia, and Germany.

So the economic development potential of Asia, led by China, is so huge that it has been recognized by the world's institutions.

As a warrior nation, Russia will not fail to see this point!

Second, China and Russia complement each other's resources and depend on each other.

According to data from customs statistics, the trade volume between China and Russia in 2022 reached a record $190.2 billion, accounting for 3% of China's total foreign trade import and export value, an increase of 29.3% over the previous year.

Among them, exports to Russia were $76.1 billion, accounting for 2.1% of China's total exports, an increase of 12.8% compared to 2021; and exports from Russia to China reached $114.1 billion, accounting for 4.2% of China's total imports, an increase of 43.4% compared to 2021.

In 2022, Russia's trade surplus with China was $38 billion.

In addition, after the Russia-Ukraine conflict, the United States moved a large number of European and American companies out of Russia, while China has many mature companies and manufacturing industries, which not only gives Chinese companies the opportunity to develop in Russia, but also fills the hollowing out of Russian industry.

The Russian Business Consulting Daily published a very special survey result: Among Russian companies, 67% of them choose to use Chinese manufacturing to replace Western equipment.

And in December last year, in order to show sincerity to China, Russia even designated about 40% of Russia's total area in the Far East as a special economic zone to attract Chinese investors to develop.

Finally, I want to say that Russia's move to make the RMB its only foreign currency is very optimistic about China's development, and also very recognizes the internationalization of the RMB, and is willing to use its own resources to help China promote the internationalization of the RMB.

This may have a certain exemplary effect on other countries, further weakening the hegemonic status of the US dollar.

Maybe in the future, there will only be two currencies in the world: one is the RMB, and the other is the US dollar.