Posts tagged with "Economy"



Middle East · 20. August 2020
“Two ancient Asian cultures, two partners in the sectors of trade, economy, politics, culture and security with a similar outlook and many mutual bilateral and multilateral interests will consider one another strategic partners” – these were the opening words of an 18-page document that confirmed a multi-billion dollar deal between China and Iran that blatantly defies U.S. imposed sanctions against the Islamic Republic. According to The New York Times, the agreement that Iran and China...
China · 15. August 2020
The yuan is going global at an increasingly faster pace, with the currency's cross-border transactions surging by about 24 percent and becoming the world's 5th most often used payment currency in 2019. Experts said that this trend is partly due to overseas companies being increasingly inclined to shun the US dollar for fear that their business will be affected by the Trump administration's hostile policies toward China. The total amount of cross-border yuan payments and receipts by banks was...
China · 11. August 2020
Two of the US’s top “strategic threats” are getting closer and closer within the scope of the New Silk Roads – the leading 21st century project of economic integration across Eurasia. The Deep State will not be amused. Iranian Foreign Ministry spokesman Abbas Mousavi blasted as “lies” a series of rumors about the “transparent roadmap” inbuilt in the evolving Iran-China strategic partnership. That was complemented by President Rouhani’s chief of staff, Mahmoud Vezi, who said...
China · 10. August 2020
China-Pakistan Economic Corridor (CPEC), is under execution smoothly for the last couple of years and most of the early harvest projects have been completed or are at an advanced stage of completion. The fruits of CPEC projects will be enjoyed by Pakistan in the form of sufficient amount of electricity available almost to everyone, an improved network of roads in almost all parts of Pakistan, the growth of GDP and the country's economic progress as compared to pre-CPEC time. However, there are...
China · 10. August 2020
The recent Saudi confirmation that Riyadh will be investing $10 billion to set up an oil refinery in Pakistan’s deepwater port of Gwadar, which is part of the marquee China-Pakistan Economic Corridor (CPEC), is a big strategic development. Not only does it shore up the CPEC which aims to build a massive network of roads, railways and power plants across the breadth of Pakistan, but also showcases a new strategic axis comprising Saudi Arabia, Pakistan and China. The Chinese-funded CPEC to...
China · 10. August 2020
Hainan, an island province known as China’s Hawaii, does not only want to be known for sunshine and beaches: It has set an ambitious goal to become the country’s southern hub for technological innovation. The strategy involves offering tech start-ups free rent, reduced tax rates, easier visa policies, and access to government-backed venture capital funding. The first global tech company to commit to a presence on the island was Microsoft, which signed an MOU with the provincial government...
Russia · 09. August 2020
The US dollar has recently been losing value against other currencies, dropping nearly 5% in July, its biggest monthly fall in more than 10 years. This decline is prompting economists worldwide to re-assess the role of the dollar as a global reserve currency, as some countries have resorted to other options in their bilateral transactions. The US dollar’s share of trade between Russia and China fell to a record low of 46% in the first quarter of 2020, according to recent figures provided by...
India · 09. August 2020
As Chinese manufacturers struggle to "walk out" as their domestic business environment becomes more competitive, India is becoming increasingly attractive for many of them. Hu Tu, a native of East China's Anhui Province, has been living in Bangalore, one of India's most progressive and developed cities, for about four years. Starting from the second half of last year, he set out to establish a small-scale factory in Bangalore to produce and process silkworm cocoon. But in the process of opening...
India · 09. August 2020
India is going to come out on top in 2019-2020 in terms of economic growth amid the global slowdown, according to the International Monetary Fund's 2019 World Economic Outlook. "India's economy is poised to pick up in 2019, benefiting from lower oil prices and a slower pace of monetary tightening than previously expected, as inflation pressure eases", the report says, forecasting that the country will grow at 7.5 percent in 2019 and 7.7 percent in 2020, thus outstripping the People's Republic...
Russia · 09. August 2020
Ditching the dollar - the move is part of Russia’s desire to hedge against further American sanctions. Central Banks weigh a host of factors—such as stability, liquidity and returns—when managing their foreign reserves. Most opt to hold dollars: according to the IMF, the dollar accounts for 62% of global foreign-exchange reserves. The Central Bank of Russia (CBR), though, must also consider geopolitics. On January 9th it revealed that it had dumped $101bn in dollar reserves last spring,...

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