Why China is right on the future of Ukraine
The Chinese are urging patience, calling for talks after the referendum
Liam Halligan
By Liam Halligan
4:22PM GMT 15 Mar 2014
This Crimean crisis is, perhaps, reaching its apogee. As a referendum is held on the Black Sea peninsula, a territory 25pc bigger than Wales and home to 2m people, the stand-off between Russia and the West continues, dominating the global news cycle.
Talk of a new Cold War is deeply alarmist. Politicians on both sides are posturing in front of each other and their respective electorates. Be in no doubt, though, relations between Russia and the US are now at their lowest ebb since the Soviet Union collapsed more than 22 years ago.
While the possibility of East-West military confrontation remains remote, the war of words is casting a pall over global financial markets. Investors worry that argy-bargy between Moscow and Washington, and a Ukrainian sovereign default, could spark another Lehman-style “systemic moment”.
Crimean voters are today almost certain to back closer ties with Moscow. Two-thirds of them are ethnically Russian and there is widespread anger at last month’s mob-ousting of Ukraine’s elected president.
While Viktor Yanukovich had become unpopular, his 2010 election was “fair” and “competitive” according to the Organisation for Security and Co-operation in Europe. And he wasn’t up for re-election until 2015.
More:
http://www.telegraph.co.uk/finance/comment/10700292/Why-China-is-right-on-the-future-of-Ukraine.html