Political uncertainty in Thailand with PM’s suspension

Prayut’s popularity continues to be falling over accusations he botched Thailand’s response to the COVID-19 pandemic and mishandled the economy, yet his coalition federal government survived four no-confidence votes. Prayut has argued against his detractors that his federal government has successfully steered the economy through the pandemic, allowing it toContinue Reading

Najib-era ship scandal resurfaces to sink UMNO

SINGAPORE – Another day, one more multibillion-dollar corruption scandal in Malaysia. 1Malaysia Development Berhad (1MDB), one of the world’s largest ever financial heists, had earlier put the Southeast Asian nation in the global spotlight along with newly incarcerated former premier Najib Razak, who appears accused of pilfering billions of dollars associated with public funds. Another Najib-era scandal […]

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Britain’s former Myanmar envoy detained in Yangon: Sources

Authorities in Myanmar have detained Britain’s former ambassador to the Southeast Hard anodized cookware nation, where a military junta seized energy last year, three people with knowledge of the situation stated on Thursday. Vicky Bowman, who currently operates the Myanmar Center for Responsible Company (MCRB), and the girl husband, HteinContinue Reading

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

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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