Cut off from international payments systems by Western-led sanctions, Russia has turned to China to obtain the microchips it needs to meet surging demand for its domestic bank cards.
But while Chinese manufacturers may be able to provide a quick fix for Russia’s besieged financial institutions, they are unlikely to be able to substantially ease the country’s mounting economic woes, analysts say.
To read more: https://www.aljazeera.com/economy/2022/4/21/chinese-bankcard-chips-may-not-ease-russias-economic-pain
SOURCE: AL JAZEERA
