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originally posted by: paraphi
Russia pumping gas to China won't destabilise the democratic developed world.
The US is already pretty much self-sufficient in oil and gas and Europe are well have reduced any reliance on Russia.
The question that is better asked is:
(1) What price is China extracting from Russia for this deal? Russia has made this deal from a position of weakness.
(2) Russia has so far squandered their earnings from oil and gas. They still have a one-track economy. Is there any evidence that Russia will diversify and develop into a "developed" economy?
(3) Why do people "big" Russia up? They have an GDP that is lower than Italy, and Italy is the fourth biggest European economy.
If there is a depression that you are predicting then the countries with depth in economic advancement will fare better. Do you really think China would survive passed Thursday if no-one bought goods from them? If the West goes into depression then China dies too, but more terminally.