Russia cannot supply India or China's full needs, let alone both of their needs. Good on him for finding a buyer of the fuel that is willing to trade in non-petrodollars, but Russia doesn't really have much else that India needs. Let the petrodollar crash, that's not my point; my point is that this looks a lot like autarky.

@7 that's kinda the point right, we don't want to give you cheap energy if you treat us as a pariah

if any country is well positioned for autarky it's Russia, I'd argue it's only a dirty word if you need to conquer other countries in order to provide for that autarky

fate has a sense of irony, no doubt

@7 tbf America is still perfectly capable of peacefully autarky, wild really

@skells I would love it, if it were at all possible. But the problem with autarky isn’t that it’s a bad word – it’s that it doesn’t work. BRICS certainly gives Russia a place to start, for example, but there’s just as much an embedded growth obligation in states as there are in corporations, and that obligation only gets more costly with time.

@skells Slap 7 years ago-me with this statement, but autarky is a terrible solution to already-existing economic problems, regardless of who does it.

@7 how do you define autarky? I'm might be throwing that word around too loosely

@7 I'm thinking the geopolitical equivalent of fuck you money, not a stated position of being self sufficient and not trading on principle

@skells I’m probably being really pedantic, referring to autarky as it’s been implemented prior to expected wartimes – wherein self-sufficiency is often seen on the ground as meeting ration-level needs for the people and innovation-level and resupply needs for the military. But I do agree with you that, if there was a means for any major trade-dependent nation to withdraw into its shell for a couple decades and focus on its own population, that could not only be possible but preferable even to the elites who need to resecure their foundations (both figuratively and literally)

@skells There’s a reason I don’t complain about Argentina as much as people think I should. At least they’re making their corruption work.

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@7 it feels like civilisation is overextended and needs a hibernation period to consolidate

· · SubwayTooter · 0 · 0 · 1
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