Kremlin blames loose monetary policy as rouble slides past 101 vs dollar.

Tazmanian@lemmy.world to World News@lemmy.world – 147 points – Kremlin blames loose monetary policy as rouble slides past 101 vs dollar
reuters.com

President Vladimir Putin's economic adviser rebuked the central bank on Monday as the rouble slid past 101 per U.S. dollar, blaming its 30% year-to-date slump on loose monetary policy and revealing growing discord among Russia's monetary authorities.

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I remember when the sanctions had already failed, that the decoupling was complete, Russias financial services sector would bolster it, etc etc

There are people trying to say the same about China but what they fail to get is for the last few decades other countries have been opening factories and simply use China as a distributor.

China now has a failing real estate bubble while America is working to buy their goods less. All it takes is for that distributor role to be lost and China will invade Taiwan and repeat exactly what Russia is doing

I think COVID while horrible, was a perfect wakeup call to companies that the JIT model and having everything made and sourced from China was not a good idea. It's good to see the decupling from China. Hopefully it will continue and the SEA countries are using the influx of money to their advantage.