The growing stature of the Chinese yuan in global trade and finance has brought exciting opportunities in yuan-related businesses, said Standard Chartered Group CEO Peter Sands in Beijing on Tuesday.
The renminbi is now among the most actively traded currencies in the world as the Chinese government moves to make it easier for the yuan to flow across its borders.
“We are very excited at the prospects of the renminbi becoming even more integrated into the global economy,” said Sands, who is accompanying British Prime Minister David Cameron on his second visit to China since taking office. Continue reading
East Asia is trapped in a vicious cycle of escalating tensions, with China’s rising power giving Japanese hawks legitimacy in their bid to bolster the military — exactly what Beijing says it fears.
“This is a battle about pride,” said Takehiko Yamamoto, international security professor at Japan’s Waseda University. “I cannot, for now, see there being any compromises.” Continue reading
U.S. immigration officials are considering a proposal from Chinese investors to create a multibillion-dollar development in New York’s Catskills called “China City” — raising concerns among critics about the potential cost to U.S. taxpayers and, according to one analyst, the possibility it could be a “stalking horse” for the Beijing government.
A spokesman from the U.S. Citizenship and Immigration Services told FoxNews.com that the proposal for Thompson, N.Y., has not been approved but is under consideration. Continue reading
MOMBASA, Kenya, Dec. 4 (UPI) — The Chinese, investing heavily in Africa to secure its oil and other raw materials for their expanding economy, are spearheading a new era of railroad building to unlock the continent’s interior.This is an echo of the long-gone colonial empires when a century ago British and French engineers first opened up Africa to plunder its riches.
The railroad frenzy is being accompanied by a massive push to build several major ports along the coast of East Africa to accelerate exports across the Indian Ocean, mostly to China, India and Japan, as well as lay down a network of oil and gas pipelines to these ports. Continue reading
Whether it’s the renminbi/yuan or the Euro, for example, the world could indeed live on without the Dollar and has already created a way to circumvent it — just as the BRICS nations are attempting to launch their own internet system, separate from the currently U.S. dominated version. This article serves as a case-in-point.
An announcement Tuesday by the obscure-sounding Society for Worldwide Interbank Financial Telecommunication, better known as SWIFT, may not get much ink. China’s currency, it reported, was used in 8.66 percent of global trade finance transactions in October, the group said. It’s now the No. 2 most widely used currency for trade finance, supplanting the euro.
But that is a lot more important than it might sound. It gives an important window into how the global economy is changing–and why America’s long reign of economic dominance is at risk. Continue reading
Iran’s semi-official Fars news agency “reveals” that Saudi Arabia and Israel’s Mossad are “co-conspiring to produce a computer worm more destructive than the Stuxnet malware to sabotage Iran’s nuclear program.” The report appeared Monday, Dec. 2, during foreign Minister Javad Zarif’s tour of Arabian Gulf capitals,with the object of easing tensions between the emirates and Tehran. Riyadh was not on his itinerary.
The Iranian agency now claims that Saudi intelligence director Prince Bandar Bin Sultan and the head of Israel’s Mossad Tamir Pardo met in Vienna on Nov. 24, shortly after the six world powers signed their first interim nuclear agreement with Iran in Geneva. Continue reading
The former heads of two of the most powerful intelligence agencies in the world, speaking Sunday, Dec. 1, in different parts of the world, were of the same opinion: Iran has reached the point of a nuclear threshold state and can build several nuclear bombs in a matter of weeks. By this diagnosis, Gen. Michael Hayden, former director of the CIA and NSA, and ex-general Amos Yadlin, ex-chief of AMAN, Israeli military intelligence indicted their respective governments of the US and Israeli for their failure to stop this happening. Continue reading
- China claims sovereignty over Japanese controlled islands
- U.S. Navy sends first of six advanced anti-ship aircraft to Japan
- Fears mount tensions could spark unplanned military incident
China last month established an air defense zone covering islands controlled by Japan and claimed by Beijing – sparking fears that it could lead to an unplanned military incident.
Now the U.S. Navy is sending P-8 Poseidon patrol aircraft which will strengthen America’s ability to hunt submarines and other vessels in seas close to China. Continue reading
The 100-year period from 1815 until World War I began in 1914 was one of Europe’s greatest periods of peace ever. But consider what happened during those years: France invaded Spain; Russia fought Turkey; various German states fought with Denmark, Austria and France; Britain and Turkey fought Russia; and Greece fought Turkey. Those are just the “highlights”—and they don’t include the numerous internal conflicts, uprisings, declarations of independence and other political unrest that occurred. Even Switzerland had a civil war.
That is what “peace” in Europe looked like before the latter half of the 20th century. Continue reading
Russia has launched its new state-of-the-art Novorossiysk submarine, which set sail from a St Petersburg shipyard to become the first of six diesel-electric stealth subs delivered to the Russian Black Sea fleet in the next two years.
The Novorossiysk belongs to the Varshavyanka-class (Project 636), which is characterized by advanced stealth technology, making it virtually undetectable when submerged. Continue reading
Nov 29 (Reuters) – China sent several fighter jets and an early warning aircraft into its new air defence zone over the East China Sea on Thursday, state news agency Xinhua said, raising the stakes in a standoff with the United States, Japan and South Korea.
Japan and South Korea also flew military aircraft through the zone on Thursday while Washington sent two unarmed B-52 bombers into the airspace earlier this week in a sign of support for its ally Japan. None of those aircraft informed Beijing. Continue reading
SOCHI, November 28 (RIA Novosti) – Russia will begin the full-scale R&D work on its future strategic bomber in 2014, a senior aircraft-manufacturing industry official said Thursday.
The project, known as PAK-DA (an acronym meaning “future long-range aircraft”), has been in the works for several years but was given the formal go-ahead by the Russian leadership last year. Continue reading