Friday 11 February 2022

Russia gains China's support in NATO showdown over Ukraine

CBC News in Canada shows that Guy Saint-Jacques, former Canadian ambassador to China, says Xi Jinping will be closely watching the American response if Russia decides to invade Ukraine to gauge whether Beijing can take more forceful measures when it comes to Taiwan.

Russia-Ukraine crisis is continuing. Russia has more than 100,000 troops near the border of Ukraine.

China is really urged to weigh economic costs of Moscow coalition as sanction threats mount.

China and Beijing must carefully weigh the risks of getting closer to Moscow while Russia faces sanctions over Ukraine.

China and Russia really have made a show of solidarity to counter USA economic threats.

Following an important meeting between Chinese President Xi Jinping and his Russian counterpart Vladimir Putin early this month, the neighbours announced they were "entering a new era of global sustainable development."

The show of solidarity in the times of the Winter Olympics was carefully watched by the international community.

Russia and China want to safeguard "international fairness and justice."

China-Russia trade would be caught up in sanctions fallout, especially if Russia was excluded from the so-called SWIFT financial messaging service.

SWIFT’s messaging services are trusted and used by more than 11,000 financial institutions in more than 200 countries and territories around the whole world. SWIFT provides reliable, secure and efficient messaging services to the community of users. SWIFT calls itself the backbone of global financial communication.

These messaging services went live in 1977 to replace the Telex technology then widely used by banks to communicate instructions related to cross-border transfers. The service remains as relevant today as it was ground-breaking back then, representing the primary communications channel for financial institutions engaged in correspondent banking all around the world, and offering the most secure, cost-effective and reliable way of transmitting important financial messages relating to payments, securities, treasury and trade.

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