In These New Times

A new paradigm for a post-imperial world

Archive for the ‘Uncategorized’ Category

Globalization with Chinese characteristics

Posted by seumasach on August 14, 2018

In other words, with it’s use of subsidies in accordance with national priorities, its tight control over foreign direct investment and state control over the financial system and capital flows, all of which are in contradiction to the neo-liberal, Washington consensus, China maintains, essentially, a type of socialist system.

Barry Eichengreen

Asia Times

14th August, 2018

US President Donald Trump’s erratic unilateralism represents nothing less than abdication of global economic and political leadership. Trump’s withdrawal from the Paris climate agreement, his rejection of the Iran nuclear deal, his tariff war, and his frequent attacks on allies and embrace of adversaries have rapidly turned the United States into an unreliable partner in upholding the international order.

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Trump scores an own-goal in the game against Iran

Posted by seumasach on August 14, 2018

M.K.Bhadrakumar

Asia Times

13th August, 2018

The Israeli press is awash with reports that US President Donald Trump is faithfully executing a containment strategy against Iran that was scripted in Tel Aviv by none other than Prime Minister Benjamin Netanyahu.

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Russia finance minister: We may abandon dollar in oil trade

Posted by seumasach on August 13, 2018

Zero Hedge

12th August, 2018

 

One month ago, the bond market and political pundits did a double take when according to the latest Treasury International Capital report, Russia had liquidated virtually all of its US Treasury holdings, selling off the bulk of its US government bonds in just two months, March and April.

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Russia sells off record amount of US Treasury bonds

Posted by seumasach on June 21, 2018

 

Strategic Culture

18th June, 2018

The US Treasury Department report for April published on June 15 revealed that Russia sold $47.4 billion out of the $96.1 it had held in Treasury bonds (T-bonds). In March, Moscow cut its Treasury holdings by $1.6 billion. In February, Russia reduced its bond portfolio by $9.3 billion. Other holders did it too. Japan sold off about $12 billion, China liquidated roughly $7 billion. Ireland ditched over $17 billion.

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Donald Trump’s “Madness”

Posted by seumasach on June 19, 2018

Trump appears intent on undermining the whole US-led post-war, or rather post-1971, order. Here Hugo Salinas Price shows that the ever-growing US trade deficit is a necessary component of that order. It feeds US government spending and ensures the flow of dollar into the global system. Logically, the US must move from being the consumer of last resort to being once again a productive economy, another professed Trump goal.

Hugo Salinas Price

14th June, 2018

Way back in 1995, when Mexico was in the throes of another financial crisis, I figured out the problem of the existing world’s monetary system, based on the paper dollar as the fundamental currency of the world.

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Why a dollar collapse Is inevitable

Posted by seumasach on April 7, 2018

Alastair MacLeod

Gold Money

5th April, 2018

We have been here before – twice. The first time was in the late 1920s, which led to the dollar’s devaluation in 1934. And the second was 1966-68, which led to the collapse of the Bretton Woods System. Even though gold is now officially excluded from the monetary system, it does not save the dollar from a third collapse and will still be its yardstick.

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Mending fences with China gets started

Posted by seumasach on February 25, 2018

The prospects of Quads, an Asian NATO aimed at countering Chinese influence, may simply dissolve under the sway of Chinese sort power. After all, the BRI actually offers real benefits in terms of India’s development in contrast to the meagre offerings of the fading Hegemony. Furthermore, India has already joined the SCO, a sort of Asian NATO aimed at countering US influence, and cannot for long attempt to ride both horses.

M.K.Bhadrakumar

Indian Punchline

25th February, 2018

Foreign Secretary Vijay Gokhale has hit the road running, as it were. There isn’t going to be a time lag following his predecessor’s permanent retirement from the South Block before the much-needed abandonment of the China policies over the past three years got under way. Those policies were characterized by a muscularity without precedents or a sense of ground realities that brought the two countries almost to the brink of war. In retrospect, they proved fanciful, sterile and even counter-productive –except, perhaps, to create a raison d’etre for the India-US defining partnership in the era of “America First”.

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India’s Asian strategies are distinctly passé

Posted by seumasach on January 30, 2018

Both Japan and Australia are breaking from the US sphere of influence. As Trump says, the US will follow it’s national interests just as other countries will follow theirs: that is exactly what is happening. But of course, following your national interest is by no means the same thing as following an isolationist policy: that is impossible in our globalized world where success is based on exercising strategic autonomy to maximize geo-strategic advantage. Trump seems to be enabling this for other countries but it remains to be seen whether he can do it for the USA itself, incorporating the USA itself into the multipolar order by way of a comprehensive trade and investment partnership with China. So far it appears not.

M.K.Bhadrakumar

Indian Punchline

29th January, 2018

The meeting between the foreign ministers of China and Japan – Wang Yi and Taro Kono – on Sunday in Beijing signifies the resumption of high-level exchanges after an interlude of two years. A series of goodwill gestures by the two sides in recent months preceded it. Sunday’s talks resulted in an agreement to hold the Japan-China-South Korea summit meeting “as soon as possible”.

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Iran to join Eurasian Economic Union

Posted by seumasach on December 14, 2017

Adam Garrie

The Duran

13th December, 2017

Iranian media has cited a statement from Behrouz Hassanolfat, the director of Europe and Americas Department of Iran’s Trade Promotion Organization, indicating that Iran will formally join the Eurasian Economic Union (EAEU) in early 2018.

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How Trump’s America helped China and South Korea become friends again

Posted by seumasach on December 12, 2017

“Trump’s neo-isolationist and unilateralist inclinations have given China a golden opportunity to enhance its prestige, status, and international leadership.”

South China Morning Post

12th December, 2017

Zhang Baohui says the rapprochement between Beijing and Seoul, after relations were damaged over THAAD, has much to do with a more moderate Chinese foreign policy, inspired in no small part by the erosion of American soft power under an isolationist Donald Trump

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EU takes over global trade stage

Posted by seumasach on December 12, 2017

Politico

12th December, 2017

The international trading system created by the U.S. after the Second World War has a new leader — the European Union.

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