Even Russians themselves have taken over the fast food businesses left by MacDonalds and others, and are enjoying a ready market of hungry Russians going for fast food unabated.
I am apt to agree that China benefits quite substantially with the onset of the Ukraine War and the sanctions imposed by the USA and its allies. The departure of those businesses from Russia did not collapse the Russian economy, as others are perfectly capable of taking over. What these businesses have done by moving out of Russia is cutting their noses to spite their faces. Returning to Russia and trying to rebuild a market lost to China and others is out of the question going forward.
China, India and Saudi Arabia are already benefiting from the energy business, buying highly discounted oil from Russia and reselling them at huge profits to the EU. Who are the fall guys today, blindly following Satan in Ukraine and suffering at the expense of helping Satan confront Russia? Stupidity honestly has no cure.
Anonymous
PS. When China closes its market to the West, Japan and South Korea would only be trading with the USA and Europe.
2 comments:
China is now beginning to cannibalise the shipbuilding market, the usual Japanese and South Korean turf. Countries usually make a bee line for building their ships in shipyards of these two countries, and for decades, both countries were the major shipbuilders for the rest of the world, for their quality work and competitive pricing.
France shipping giant, CMA CGM, has just given Chinese shipyards the contract to build 16 container vessels worth a total of US$3.2 billion. This is the biggest order yet that Chinese shipyards have ever been given in building ships for foreign customers. This is a testimony of how far the Chinese shipbuilding sector has grown over the years, being able to even build aircraft carriers themselves. The ability to compete on price and quality must have swayed the French to give the business to China rather than Japan or South Korea.
What sectors have China taken over from Japan within three decades? High Speed Railways, Electric Vehicles, Mobile Phones and Communication Equipment, all of which Japan were the kingpin in days gone by. The Japs must be having sleepless nights and angry that China is taking over what the Japs used to excel in decades gone by. But winning or losing the competition is the normal progression of things. Japan also lost much of its consumer goods market to the South Koreans, particularly in consumer electronics like TVs.
When countries cannot compete, they eventually lose out. Unless Japan can never follow the USA's modus operandi by creating hurdles, false accusations and sabotage, when they fail to compete with any country, industry or company. The USA foiled Toshiba of Japan and Alstom of France, ostensibly to stifle their business that the USA could not compete with, just like taking action against Huawei and now TikTok. There is nothing the Japanese can do like the USA, using arm twisting and playing hardball with the competition when it fails to overtake or falls behind the competition.
Few decades ago, Japan tried to dump obsolete washing machines on to the Chinese market, thinking it is a rubbish dump for their unwanted and unsaleable products at home. Today, China is the largest manufacturer, exporter of, and consumer market of washing machines. The China market is no longer the turf of Japanese manufacturers. And now Japan is competing with the South Koreans as well in the global market for consumer products.
The Organization of the Petroleum Exporting Countries (OPEC) has refused to invite reporters from Bloomberg News and Reuters to its event in Austria later this week, both outlets said on Wednesday.
Correspondents from the Wall Street Journal were also snubbed, according to Reuters and Bloomberg.
Good show OPEC. Keep the scums and trouble makers out.
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