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Emerging Markets
China Set To Loan $10 Billion To Cash-Strapped Venezuela
China is set to lend the cash-strapped nation of Venezuela around $10 billion in the coming months, Reuters reported on Thursday, citing a senior official at Venezuela’s state-run oil company PDVSA who is familiar with the matter. According to the senior official, half of the loan will be part of a bilateral financing deal with the other half … Continue reading
De-Dollarization: Chinese Yuan “Clearly Belongs” In SDR Basket, Lagarde Says
International Monetary Fund (IMF) Managing Director Christine Lagarde said on Sunday that the Chinese yuan “clearly belongs” in the Special Drawing Rights (SDR) basket and that the IMF would work with China to that end, Bloomberg reports. “Timing is something that we will be discussing amongst ourselves but I think we welcome this introduction,” Lagarde said. … Continue reading
Westward Ho On China’s Eurasia BRIC Road
By Pepe Escobar, Asia Times What’s in a name, rather an ideogram? Everything. A single Chinese character – jie (for “between”) – graphically illustrates the key foreign policy initiative of the new Chinese dream. In the upper part of the four-stroke character – which, symbolically, should be read as the roof of a house – the … Continue reading
ASEAN Nations Finalize Banking Integration Framework Agreement
Members of the Association of Southeast Asian Nations (ASEAN) have finalized the ASEAN Banking Integration Framework (ABIF), which will allow the countries’ banks to enter into reciprocal bilateral agreements, Tan Sri Dato’ Sri Dr. Zeti Akhtar Aziz, the Governor of Malaysia’s Central Bank, BNM (Bank Negara Malaysia), announced on Saturday, Malaysia’s Bernama news agency reports. The new banking framework, or … Continue reading
China’s Next Big Opportunity In Supply-Chain Logistics: Container Shipping By Rail
The transportation of containers by rail could grow substantially in China, particularly if the nation continues to adopt operating practices and regulatory reforms that have boosted the development of the North American rail network, according to a new research paper from The World Bank. Measures that include the ability of rail operators to tailor service offerings that … Continue reading
Egypt’s Plan To Construct New Mega-Capital City May Cost $300 Billion
Egypt’s plans to construct a new massive capital city may cost around $300 billion to complete, according to Reuters, citing the head of the UAE group leading the mega-project. Egypt’s announcement of a plan to create the new mega-city came last week following a major high profile international investment summit, Egypt The Future: Egypt Economic Development Conference (EEDC), which was … Continue reading
Iran “Seriously Thinking” Of Transition To National Currencies In Trade With Russia
Tehran is seriously thinking of transitioning to national currencies in trade with Russia, the former Iranian Foreign Minister and now the Director of the Strategic Council on Foreign Relations Kamal Kharrasi said on Friday, TASS news agency reports. “Iran will welcome the conclusion of such an agreement in trade exchanges with Russia,” Kharrazi said. “This is a very … Continue reading
Putin Calls For Creation Of Eurasian Currency Union
Russian President Vladimir Putin is proposing the creation of a regional “Eurasian” currency union with Belarus and Kazakhstan, Russia’s main partners in the Eurasian Economic Union. Putin’s proposal was made during a meeting on Friday with the Belarussian and Kazakh presidents which highlighted the growing challenges that face the Russian-led Eurasian Economic Union amid the tumble in the price of … Continue reading
The U.S. Is Juggling Chaos And Coordination In Order To Contain China – OpEd
By Andrew Korybko It’s no secret by now that the US is dead set on containing China, yet it’s shying away from engaging in a direct confrontation with it. Instead, the US is managing a dual policy of creating chaos along China’s western and southwest reaches, while coordinating a containment alliance along its southeastern and northeastern … Continue reading
The Global Impact Of The Rising Dollar
By Deena Zaidi The US dollar has been on the rise every day setting new records. With the upward pressure on dollar, stronger dollar could tighten financial conditions across the globe. Further the rising dollar could be offsetting the benefit of low cost oil within the US economy. Over the past six months, the trade-weighted dollar … Continue reading
