The battle that will not decide the outcome of the currency war – Why did China’s banks comply with the sanctions? With the threat of secondary sanctions keenly felt by Chinese banks, Washington appears to be temporarily winning a battle – but in an economic war it is decisively losing. The resilience of the Russian …
Tag: China
Russia gets Crypto Exchanges to Trade Digital Yuan – de-Dollarization as Ultimate Goal
Russia has announced plans to create two state-owned cryptocurrency exchanges aimed at making digital payments for international trade transactions. US sanctions have led Russia to seek alternative payment methods to keep its economy stable. The two cryptocurrency exchanges will operate in two different cities, one in Moscow and the other in St. Petersburg. Additionally, BRICS …
Barter Economy between Russia-China to Defeat Western Sanctions
The war in Ukraine after the Russian invasion has been going on for more than 900 days, and since then, China and Russia have strengthened their economic and defense ties. Under the radar of the West, however, economic relations could expand even further in the future – with the help of an old (as old …
China is already 33% larger than the US in terms of GDP (including shadow economy), while India is also threatening
China’s GDP is already significantly larger than the US economy, contrary to official figures given by governments or organizations such as the World Bank and the International Monetary Fund (IMF), which do not include important parameters such as the “black economy” or the measurement of GDP in purchasing power parity terms. Translating the following into …
US vs. China: Bitcoin will become the new global reserve currency
In an era characterized by global economic instability and high political uncertainty, the idea of a new world order in the financial sector is gaining more and more ground. Now, there are questions about how this new world order will take shape. The dollar has long held this position, but its reign is increasingly being …
A move away from the dollar could hurt the Εconomies of Russia, China and India
Despite the ongoing movement, the dominance of the dollar is unlikely to disappear easily and quickly, given how pervasive the dollar is in financial markets. De-dollarization cannot happen at a rapid pace because the infrastructure required to make it happen is extremely daunting because all governments and countries will have to change the way they …
Why does the imposition of tariffs create few jobs in the countries that impose them?
The US presidential contenders seem to agree on one thing: Both Donald Trump and Joe Biden have imposed high tariffs on imported goods made in China and other countries. These kinds of protectionist policies are a departure from the policies of the previous half century that favored “free trade” (less or minimal government intervention in …
China: The Strategic Moves, Trade and Sanctions It Prepares for Currency War Against the Dollar
Financial security has become an integral part of China’s national security strategy since the Asian financial crisis of 1997 – when the so-called Asian Tigers collapsed. Rising geopolitical tensions with the US and the West in general since 2018 and Western economic sanctions against Russia have further prompted Chinese policymakers to strengthen the economy’s financial …
China cancels US tariffs by devaluing the yuan
China is actively promoting its plan for de-dollarization, promoting the yuan as the dominant currency in world trade, effectively challenging the long-standing dominance of the US dollar. China is trying to promote the yuan as a medium of international trade, implementing the basic principle of de-dollarization – reducing dependence on the dollar. China once relied …
The BRICS prepare a Central Bank and buy gold to support the common currency
China, backed by Russia and South Africa, is planning the final assault on the still-strong dollar by introducing a new currency, to be issued by a BRICS central bank that will combine the strengths of the respective currencies of the five largest economies join the group. At the same time, the replacement of the dollar …