China overtakes US and France to become Germany’s most important trading partner

China became Germany’s most important trading partner as imports and exports rose to €170 billion (GETTY)

 

CHINA for the first time became Germany’s most important trading partner in 2016, overtaking the US and France.

German imports from and exports to China rose to €170 billion (£143billion) last year, Federal Statistics Office figures reviewed by Reuters showed.

The development is good news for the German government, which has made it a goal to safeguard global free trade after US President Donald Trump threatened to impose tariffs on imports and his top adviser on trade accused Germany of exploiting a weak euro to boost exports. Continue reading

Russian alignment with Asia to be fixed foreign policy: Duowei

Russia is abandoning its strategy of aligning itself with the West in favor of becoming a part of the East, according to a commentary from Duowei News, a US-based Chinese political news outlet.

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This push towards Asia and the abandoning of the “Western path” has been spurred by Russia’s nationalist scholars such as political scientist Alexander Dugin, believed to be an important influence on President Vladimir Putin’s foreign policy. Dugin, who founded and heads Russia’s Eurasia Movement, has long envisioned a strategic bloc that would join the former Soviet Union to Middle Eastern countries, including Iran.

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China to reap harvest of NSA scandals

The best warfare strategy is to attack the enemy’s plans, next is to attack alliances.Sun Tzu, The Art of War

A growing chorus of nations is decrying Washington’s unrestrained cyber espionage. However, there is only one country with both the means and motivation for using mounting international resentment to challenge American hegemony. The NSA surveillance of America’s allies has opened up two vital fronts in which China can erode American global dominance. Continue reading

China, Europe Agree on Currency Deal

China entered into a sizable currency swap deal with the eurozone this month that represents a stride toward establishing the yuan and euro as key world currencies. The agreement also means fewer U.S. dollars will be used in commerce between China and Europe.

“The agreement is one of the largest currency deals between China and a non-Asian trading partner,” Alanna Petroff wrote for CNN Money on October 10. Continue reading