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Ukraine isn't much stronger, either. Negotiation usually exists because nobody can achieve a decisive victory. So, watch the progress of the negotiation, you would know what happened on the battle fields.

Do you know how backward China was back in 1959?

To my knowledge. Russia oil is mostly traditional ones. Not oil sand or shale oil. Maybe I am mistaken. :)

That unaffordability is really a blessing. Using Canadian dollar as an example, though Canada central bank has 0 gold reserve (it has sold all), its printing machine is highly constrained for the fear of political backlash caused by high inflation. Because of that, I trust Canadian dollar more...

Think in this way. Daqing oil field, one of the few million barrel oil fields in the world, was developed in China back around 1959. China wasn't an industrialized country at all.

It is a relationship, not a guarantee since supply is very easy to accomplish. It is just a few keystrokes. No other goods can be made this easy, not even a twitter post.

Then read this: https://www.investopedia.com/terms/f/fiatmoney.asp

OK, tell me what guarantees fiat money. :)

Well, I try to spare you with money jargons. But with plain language and common sense logic, you still don't get it. That is why I said such a discussion is futile. :)

I respect such a person far more than those with masks.

True. I don't work in a bank. It doesn't mean what I said isn't right. Besides, many people working in banks are clueless about money, too. My investment banks always want to assign some wealth manager to help with my investment. Many discussions with them have convinced me that they are really...

The real difference is that US has marines to eventually get the asset. China doesn't. EU probably doesn't, either.

It is OK. You don't always get what you want. But you do get what you want sometimes. That is good enough. After all, it is the taxpayers' money that backs you up. You don't pay a single cent in it. Who wouldn't want this kind of deal?

The "extra" money is just a shift of your existing money. You may plan to do some investment elsewhere. Now, Russia oil is the deal of the century. So, you table your original plan to buy Russia oil. It is the same as how housewives manage their purchase with their money.

Think about the bigger picture. International loans, especially those with governments or entities with close government tie, are never just for money. Of course, losing money is never an option, unless it is taxpayers' money. yep.

I really don't get your logic. China needs oil and gas. It can get them from anywhere. If it chooses to get more from Russia, it means it gets less from other places. The same amount of oil and gas, the same amount of money you use for purchase. Where is the increase of currency?

Arguing with him about money matter is futile. I have tried. :)

It is OK. Getting the money back isn't most important thing. Money just doesn't buy you stuffs. It also buys you political influence, which would bring in other benefits. That is how US plays. They often issue loans to countries that are close to bankruptcy. At the time of insolvency, they will...

By not issuing new loans after recovering old ones.

Russia is certainly freer than China. She would have been completely silenced in China.