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 …
Tag: Russia
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 …
Why is the Russian Economy growing continuously during the War in Ukraine?
The Russian economy during the years of the war in Ukraine “runs like a bullet”, according to the findings of the European Bank for Reconstruction and Development EBRD. The World Economic Outlook of the IMF points out that Russia is expected to grow in 2024 faster than all advanced economies, in particular the Russian economy …
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 …
Stealing Russian assets will bring Economic War
Countries that have friendly relations with Russia are demanding that the European Union abandon any idea it may have of a cumulative seizure of Moscow’s state assets and oppose US plans that have already seized some $6 billion worth of assets. Representatives of China, Saudi Arabia and Indonesia, among others, have been lobbying the EU …
Gold: Russia’s Strategic Monetary Superweapon
In history, gold and silver accompanied the rule of different empires. They made possible the financing of conquests, but also the very rule of the conqueror in the vassal regions of the planet. If even today, gold coins, even legal tender, no longer accompany states’ ambitions for geopolitical sovereignty, we see that central banks’ gold …
Digital Platform for BRICS Trade Transactions – Non-IMF Yuan Loan Agreements
American economic hegemony rested on the dominance of the dollar within the system of international trade (mainly important commodities) and as a global reserve within the framework of the famous Bretton Woods agreement after 1944. This hegemony was combined with the formation of post-war international economic organizations such as the International Monetary Fund (IMF), the …
How is China taught to discard Western sanctions?
Russia’s success in dealing with Western sanctions through de-dollarization and supporting trading partners in Asia may be a valuable lesson for China as pressure to “de-risk” (the policy of the West to diversify supply chains so that it is not dependent on Chinese exports that shaped the so-called trend of de-globalization). Russia has provided many …
Russia’s economy suffered $211 billion in war with Ukraine, but hold on
Russia in the context of the military operation in Ukraine seems to be winning a no less relentless economic war. The unprecedented waves of sanctions were aimed at crippling Russia’s economy and eroding its military capability by shutting it out of the international banking and banking system (SWIFT). Russia, for its part, used this attack …
Germany: Recession and deindustrialization predicted for 2024
The economies of major nations are, understandably, highly dependent on energy supply. The more accessible energy resources are, the more confident the industry of export-dependent states, and the economies of large countries are highly dependent on energy supplies. Germany paid for its policy by supporting the United States in the confrontation with Russia. Access to …