A few comments about the world situation as it is today. Economics on steroids.

Pepe in his discussion with Dima right on our home page, is of course correct saying that Russia is not worried about any collective west action. None of us know where their real red line is, but, they are not going to work hard to make that understandable to anyone. They’ve done enough. There is also too much other work to do and Russia is deeply into it.  Russia will also shoot the one that messes with them now is my feeling.

China, well, China is only now getting hot under the collar, if I judge from their daily Foreign Affairs Briefings. The US is also threatening China just about daily. When are they going to get it that their sanctions are now toothless?  I start laughing when Yellen starts threatening sanctions in the clip at the end.

At SCO, Foreign Minister Wang Yi made four proposals after noting the ‘Shangai Spirit’.

• First, uphold strategic independence, maintain solidarity and coordination, and never allow external forces to turn the region into an arena for geopolitical games.
• Second, jointly protect security and guard against risks, step up coordination, follow the guidance of the Global Security Initiative, and make relentless effort to safeguard world peace.
• Third, work for universal benefit and achieve development through cooperation. China stands ready to work with all parties to enable high-quality synergy between the Belt and Road Initiative and the development strategies of all SCO member states, and create more opportunities for development.
• Fourth, uphold openness and inclusiveness, deepen exchanges and mutual learning, respect each unique civilization, and deepen mutual understanding among people of various countries.

The SCO meeting made full preparation for the meeting of the SCO Council of Heads of State in Astana in July.

China has started acting: Beijing Daily: The Foreign Ministry announced on its website the decision to take countermeasures against former US Congressman Mike Gallagher. What message does the Foreign Ministry hope to send?

Wang Wenbin: Over the past few years, driven by selfish interest and bias, former member of the US Congress Mike Gallagher grossly interfered in China’s internal affairs, which seriously undermined China’s sovereignty and territorial integrity, disrupted China-US relations and harmed China’s interests as well as the common interests of China and the US. His actions were egregious in terms of both their nature and impact.

In accordance with China’s Anti-Foreign Sanctions Law, China decided to take countermeasures against Mike Gallagher, including banning him from entering China, freezing his property in China, and prohibiting organizations and individuals in China from transactions and cooperation with him. The details have been released in the decree of the Ministry of Foreign Affairs.

It must be stressed that China has unwavering resolve in upholding national sovereignty, security and development interest. China will bring the full weight of the law to bear against anyone or any organization bent on countering and containing China.

The US “overcapacity” narrative against China’s new energy sector is diametrically opposed to facts and the laws of economics. It is pure protectionism. According to US logic, any large export of a particular product means an “overcapacity.” If so, shouldn’t US soy, plane and natural gas exports in large amounts be considered overcapacity? Shouldn’t the G7 finance ministers meeting first and foremost focus on US overcapacity in those areas?

We need to point out that green double standard is not an option.

An

An update since time of writing a few hours ago:

Beijing targets 12 US military-linked firms over Taiwan arms, sanctions

Beijing on Wednesday said it had taken measures against 12 companies involved in the US military-industrial complex and their senior executives, in response to the US arming of Taiwan and sanctions on Chinese companies. The US companies included units of Lockheed Martin, Raytheon and General Dynamics, China’s foreign ministry said.

The measures, which include freezing assets in China and banning senior executives from entering the country including Hong Kong and Macau, took effect from Wednesday, it added.

The action follows the US “indiscriminately imposing unlawful unilateral sanctions on a number of Chinese entities on the basis of so-called Russia-related factors”. The ministry said the US had also continued to sell arms to Taiwan, which “seriously violates” the one-China principle.

So now we are starting to see the Russian Rap and the China Chat converging! Leave us alone, you barbarians, is what it says.  And who cares at this stage whether Zelenski is legitimate, or not?  He is yesterday’s news and it is only a matter of time before Russia has the Ukraine as she wants it.

China wants to de-dollarize the world, and quickly.  This is what is happening, despite helicopters tumbling and leaders being shot. Israel will get its comeuppance and I would say it is not going to take very long….

A very good sign is that Iran is calm, cool and collected and that everyone says the SCO relationship, the BRICS relationship and others will continue with continuity in Iran’s government.  So, if that helicopter was not so healthy, the results is not as expected by the usual suspects.