China and India. War Profiteers

Photo by Anni Roenkae on Pexels.com

The war needs to end. It is a major disruptor of the economy and great driving force for inflation.
The Western alliance has supported Ukraine with America being the one carrying the heavier burden.
Sanctions on Russia are working and energy experts say the consequent lack of access to western technology and knowhow is gradually shrinking Russia’s productive capacity.
This is important because revenues from oil and gas are the dominant component of their federal budget. In 2021 they represented 45% of such budget.
But even at discounted prices, Russia continues to sell its oil.
And who are the major purchasers? China and India.
Judging by the bar graph in a recent article in the WSJ (see link below), China and India appear to account for over 65% of such purchases.
So why not put sanctions on those two countries?
By their purchases they are helping prolong the war and so the killing of Ukrainians.
They are fueling inflation and all its devastating consequences.
Will India get upset with the West if sanctions are applied? Most likely. But what alternatives do they leave us? The cost of the war is too high and they have become war profiteers.
The war in Ukraine affects everyone and India and Modi are not accepting their responsibility in bringing it to an end.
Over the years they chose to purchase their weapons from Russia instead of the West, so they, too, got fooled by his Highness Vladimir.
They may take some comfort in the fact that Germans also got snookered, with Angela Merkel believing Putin’s tricks.
To be fair, in America, we have a long history of that same gullibility. For just one example, I’m sure George W Bush is still kicking himself for having invaded Iraq in 2003, resulting in all that destruction.
The war in Ukraine is telling India that it is time to accelerate its pivot to the West. Stopping the purchases of Russian oil would be a great step in that direction.
India’s talents would make a remarkable contribution, as we already see from the many heads of industry of Indian origin now in America, as well as in other fields of endeavor.
Will sanctions on China upset Xi Jinping? Yes. But they, too, are a war profiteer.
China became the powerhouse that it is now because of the enormous transfer of talent and technology from the West which they then used well by applying their own gifts.
But their current system of rigid hierarchical structure with suppression of freedom of speech will not keep fueling their expansion but slow it instead
China, too, by their support of Putin is contributing to the economic malaise the world is struggling with. By their purchases of oil from Putin they become his accomplice.
Economic sanctions need to be levied and if they scream, so be it.
The world needs respite from the war. And it needs it now

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