world is getting smaller and smaller for sanctions to work russia, iran are already under sanction, if china and india are sanctioned which comprise more than half of world population and sizable amount of trade it would have no effect. They can just trade among themselves. Already china has shown that it doesn't care about sanctions. Only good thing for west is that india and china are at odds with each other had it not been the case west would become irrelevant as far as these countries are concerned.
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India and China will find a way to cooperate. Together, they are half the world’s population. With the new Chinese silk route, the west is literally being cut out.
China can easily replace SWIFT with CIPS.
I wonder if the USA realizes that with banning SWIFT, they have jeopardized the USD? The only winner is Germany and will become the most powerful in the EU economic block.
Much like business leaders only looking at the next quarter, politicians in the west increasingly look only at the next election. If something harms their country in the long-term but helps them win an election this year, they're going with the immediate benefit to them and long-term harm to the country.