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Russia to Re-Open Stock Market After Nearly A Month, Will its Economy Rebound ? - YouTube
Channel: MSNBC
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Financial journalist Benjamin walls
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Walsh Benjamin thank you very much for
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coming to the Sunday show
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um talk to us about the significance of
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Russia's reopening the Moscow exchange
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for just Federal Loan Trading
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right I think uh symbolically it's
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important for the Russian government to
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do that
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um I think that it is significant as you
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mentioned that it's just Federal bonds
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um so obviously you know a lot of people
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in the um the days after the invasion
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were sort of wondering what is going to
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happen with
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um the Russian stock market and you know
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the the shares of Russian companies that
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are listed there and we still don't have
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an answer to that and that's something
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that I think
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um you know the the Russian government
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and financial Regulators don't have a
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solution to right now because tons and
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tons of Western investors who make up
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about something like half of the
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investors in the Russian stock market
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have said we're getting out of Russian
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company Investments and have basically
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decided that those those assets are now
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worth zero and are willing to sell them
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for for that and so I don't see yet that
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the Russian government has a plan to
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open the stock market in a way that
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would be anything short of a catastrophe
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right Benjamin half of Russia's assets
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that are currently not frozen because of
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Western sanctions are in gold and
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Chinese yuan is Russia's economy now
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reliant on China
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well it's very difficult uh to
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unentangle the Russian economy from
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Europe they're obviously you know large
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portion of of Russia is literally
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physically in Europe and then you know
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those were their closest economic and
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trading partners and so to the extent
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that that Russia is now dependent on
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China it's a it's a geopolitical
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Reliance and they are absolutely going
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to try to shift their economic activity
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towards China but that's not something
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that can be done in a matter of weeks
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and certainly not done in a matter of
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weeks under the kind of Crisis scenario
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that we've seen during the war
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um so uh to the extent that that Russia
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is reliant on China it's for short-term
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things like
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airport airplane parts or
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um that sort of thing it's very hard to
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ramp up uh you know normal business
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trading activity on the scale that they
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need to uh in a short period of time you
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know there real quickly there were
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reports last week intelligence reports
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that the Russians had been had turned to
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um Beijing asking specifically for
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military and economic help in its war on
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Ukraine How likely is it that China
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would come to Russia's economic rescue
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if asked
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I think that um it is it is likely that
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they will provide some sort of economic
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aid I think that they're walking a
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tightrope and I think that Xi Jinping is
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um not going to be heartened by the
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Global Response
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um in terms of the sanctions and the
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rhetoric that's been
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um directed at Russia I think that you
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know to the extent that Russia is now
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something like a kind of international
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Pariah State
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um on the kind of scale of you know Iran
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or North Korea
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um I think that Xi Jinping is going to
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want to weigh a relationship with Putin
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very delicately and is not going to want
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to be seen to
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um you know effectively be bailing out
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Russia although Xi Jinping will
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absolutely want to
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um you know to the extent that he can
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weaken
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um the American and European hand here
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[Music]
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thank you
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[Music]
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