China-Russia currency alliance shows the way to de-dollarization

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TOKYO — Two years ago this month, China’s Xi Jinping and Russia’s Vladimir Putin decided to a “financial connections. ”

It won little attention at the time. The particular pact to reduce their economies’ dependence on the buck seemed more aspirational, more rhetorical, than tangible. Until now.

As economist Ivan Tchakarov on Citigroup reports, yuan trading on the Moscow Exchange, Russia’s largest, has surged more than 40-fold this year. What’s more, Tchakarov notes, yuan coping “has now began to dominate trading in more traditional currencies. This is happening against the backdrop of fast-declining investing in the US dollar. ”

It would be intellectually dishonest to argue things unfolded just as Xi and Putin expected in Aug 2020.

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The environmental costs of Turkey’s tourism boom

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Despite mismanaging the country’s economy while not being able to curb pumpiing amid a cratering currency, Turkey’s authorities has used the tourism sector to maintain a dependable source of revenue. However, this profitable financial safety net – really worth nearly  US$25 billion in 2021 – has come at the cost of Turkey’s environment. Probably the most enraging examples […]

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US sanctions reversing Russian gains in SE Asia

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HANOI – Russia’s invasion of Ukraine has become a main strategic concern just for much of the West, but its knock-on effects are extending nicely beyond Europe. This really is particularly the case within Southeast Asia, exactly where Moscow has sought over the past decade in order to carve out a new network of strategic relationships. Leveraging its robust strategic […]

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On fifth anniversary, Rohingya return still in doubt

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Rohingya at the Kutupalong refugee camp in Bangladesh. Photo: AFP

Aug 25 is noticed by the Rohingya diaspora as “Genocide Memories Day. ” It is a day of somber reflection on the events since August 25, 2017, when the Myanmar military (Tatmadaw) launched a fierce attack in their ancestral homeland in Rakhine state. That offensive resulted in a mass trip of more than half a million […]

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Biden postmortem on Pelosi’s Taiwan trip

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(Present: President Joe Biden, House Speaker Nancy Pelosi, Secretary of State Antony Blinken, national security adviser Jake Sullivan and White House aide Tara Write) Joe Biden: Let me bring this little meeting to purchase.   We are all here.   And this is a new White House aide, Tara Compose, who will provide visuals if we need them. The […]

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US-China rivalry is no new Cold War

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This is the first of three areas of an essay initially published by ICAS, a Chinese government-funded think tank within Washington. Key takeaways 75 years ago final month, the American diplomat George Kennan published an essay in Foreign Affairs titled “The Sources of Soviet Conduct” in which he released the strategy associated with ‘containment’ to the Western world. […]

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Shanghai aims to revive with 32 new high-tech projects

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Shanghai has announced it will spend 63. 47 billion yuan (US$9. 24 billion) on 32 new industrial projects in Pudong, a bid to bring back the city’ ersus economy after a destructive citywide Covid lockdown squeezed the life from the business hub between March and May. The particular Shanghai government mentioned Tuesday the tasks would cover biomedicine, artificial intelligence […]

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Kimono: thing of beauty or symbol of oppression?

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A female in Suzhou, Tiongkok, was reportedly jailed recently for “provoking trouble. ” The girl alleged crime had been spotted outside within a kimono. The woman was dressed like a character from a manga (a Japanese comic). Arresting her might seem dramatic but there is a lot more at play here than a simple fashion faux pas. Clothing is […]

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US goes for EDA jugular in China chips war

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The US-China french fries war is heating up with new methods that will likely trigger major disruptions for your global semiconductor market. The US Commerce Area has been working on policies designed to deny Taiwan gate-all-around technology ~ the newest and most enhanced method of building diffusion. “The latest restrictions by the US Area of Commerce’s […]

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Russia’s chips failure coming home to roost

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In 1962, two Us citizens who spied to get Russia and defected, Alfred Sarant and Joel Barr, proposed to turn the brand new Russian city of Zelenograd (“ green city” ) into a microelectronics plus computer development plus manufacturing center. Zelenograd thus became the very center and soul associated with Russia’ s hard work to build modern consumer electronics for its military. However it soon failed in its mission and the […]

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