BERLIN/WASHINGTON/BEIJING (Own report) – Despite escalating tensions in East Asia, German companies have announced new arms exports to Western allies in China’s vicinity. Kiel’s HGW shipbuilding company has confirmed its decision to sell two submarines to Singapore. In the island disputes in eastern and southeastern Asia, Singapore is seen as one of the West’s reliable partners. The current territorial disputes over the archipelago known as the “Diaoyu Islands” (in China) and the “Senkaku Islands” (in Japan), which are claimed by both countries, gives an indication of the conflicts emerging in the region. Interest in these islands is based not so much on their resources but rather on conflicting geo-strategic interests: These Islands are part of a chain of islands Beijing considers an important defense against possible aggression. Berlin is observing these tensions with apprehension because they could threaten German business interests. German arms exports to the region, as well as the Bundeswehr’s growing cooperation with Japan, South Korea and other Western allies, are an indication that, in the case of an escalation of conflict, Germany would take sides – against China. Continue reading
Most Americans are oblivious to the ongoing sell-off of institutionalized names. Many take for granted that these companies are still under the Stars and Stripes. Advanced and emerging foreign markets are exploiting this fiscal weakness, as their businesses establish distribution routes and introduce domestic brand names to the United States consumer marketplace.
Below is a sample of corporations that most people think are American, but are owned by foreign companies.
- Budweiser – Belgium
- Adidas; Alka-Seltzer; Dial Soap; Puma; Trader Joe’s; Tretorn; T-Mobile – Germany
- Flatiron Building; Sunglass Hut – Italy
- Chicago Skyway; Indiana Toll Road – Spain/Australia
- Gerber Products; Toll House – Switzerland
- Frigidaire – Sweden
- Red Bulls MLS team – Austria
- Good Humor-Breyers – Britain/Netherlands
- French’s Mustard; Holiday Inn – Britain Continue reading
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
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
Should it transpire, Frankfurt would likely be the winner as it’s slowly becoming the world’s new financial center. Paris only toes the German line.
Invetsment bank could switch European operations to Paris and Frankfurt
Goldman Sachs has said it would move much of its European business out of London if Britain leaves the European Union.
The warning from the world’s most powerful investment bank comes as political pressure for Britain to leave the EU mounts. 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
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
The economic crisis worsens. The news presents us with markers, signs and symptoms. The situation spirals gradually, downward, toward a point of no return. China’s war against the U.S. dollar continues pushing one nation after another to bypass trading in dollars. We see, as well, that China Moves to Further Marginalize the Dollar just as China Leads a Campaign to Replace the Dollar as [the World’s] Reserve Currency. It is no accident that China pursues a national strategy hostile to American financial interests. To supplant a great financial power one must take certain actions and follow a definite path. So what is the American side doing to protect its position? America is doing very little. America is, in fact, lost in a wilderness of self-inspired trivialities and entertainments. We no longer appear to know which end is up. Continue reading
Collapse of talks a blow to European balance of power as Kremlin sanctions trump historic trade deal
Twenty years after the collapse of the Soviet Union, Ukraine is slipping back under Kremlin control. Ukraine’s shock decision to opt for Vladimir Putin’s Russia and pull out of EU talks on the eve of an historic deal is a dramatic upset to the European balance of power. It is the first major defeat for the EU in its eastward march since the fall of Communism. While the region’s geopolitics remain fluid, the upset may prove as fateful as the move by the Kossack chief Bohdan Khmelnytsky to turn his back on the West and accept Tsarist suzerainty in the 1640s.
“Ukraine’s government suddenly bowed deeply to the Kremlin. The politics of brutal pressure evidently work,” said Karl Bildt, Sweden’s Foreign Minister. Continue reading
Iranian Diplomacy’s exclusive interview with Fyodor Lukyanov, columnist for Al-Monitor and editor of the journal ‘Russia in Global Affairs’
- Many in Iran believe that Russia was the winner in Iran’s isolation and the sanctions against this country. Do you agree with such an assessment? With an improvement in relations with the West, do you predict that Tehran would distance itself from its look-to-the-East policy and prefer the European markets to Russia for its energy?
- Relationship based on inability of one of the partners to choose cannot be sustainable. Yes, Russia benefits from absence of Iranian oil and gas on certain markets, but it no strategy at all. Russia is facing huge challenges with the need to diversify its economy, to find new markets in the East, and there is not a right approach to rely on expectations that powerful competitors are removed from the market. Continue reading
At a brand new housing development in Irvine, Calif., some of America’s largest home builders are back at work after a crippling housing crash. Lennar, Pulte, K Hovnanian, Ryland to name a few. It’s a rebirth for U.S. construction, but the customers are largely Chinese.
“They see the market here still has room for appreciation,” said Irvine-area real estate agent Kinney Yong, of RE/MAX Premier Realty. “What’s driving them over here is that they have this cash, and they want to park it somewhere or invest somewhere.” Continue reading
The People’s Bank of China said the country does not benefit any more from increases in its foreign-currency holdings, adding to signs policy makers will rein in dollar purchases that limit the yuan’s appreciation.
“It’s no longer in China’s favor to accumulate foreign-exchange reserves,” Yi Gang, a deputy governor at the central bank, said in a speech organized by China Economists 50 Forum at Tsinghua University yesterday. The monetary authority will “basically” end normal intervention in the currency market and broaden the yuan’s daily trading range, Governor Zhou Xiaochuan wrote in an article in a guidebook explaining reforms outlined last week following a Communist Party meeting. Neither Yi nor Zhou gave a timeframe for any changes. Continue reading