In These New Times

A new paradigm for a post-imperial world

Posts Tagged ‘new global financial architecture’

China’s yuan takes leap toward joining IMF currency basket

Posted by seumasach on November 15, 2015

Reuters

14th November, 2015

 

China’s yuan moved closer to joining other top global currencies in the International Monetary Fund’s benchmark foreign exchange basket on Friday after Fund staff and IMF chief Christine Lagarde gave the move the thumbs up.
Read more

Posted in Multipolar world | Tagged: , , | Leave a Comment »

Time Is running out for Pax Americana’s apologists

Posted by seumasach on November 15, 2015

Oriental Review

11th November, 2015

The paradox of the current global crisis is that for the last five years, all relatively responsible and independent nations have made tremendous efforts to save the United States from the financial, economic, military, and political disaster that looms ahead. And this is all despite Washington’s equally systematic moves to destabilize the world order, rightly known as the Pax Americana.

Read more

Posted in Global peace process | Tagged: , , , , , | Leave a Comment »

Greece triggers the global crisis

Posted by seumasach on July 7, 2015

Cailean Bochanan

7th July, 2015

Coming at the end of a week in which the Greek people overwhelmingly reasserted their desire to remain in the Eurozone, the “No” vote can only be a result of Tsipras’ ability to convince them that their position in the Eurozone is safe, whatever happens. That now looks like a very shaky assumption and, I expect,  a brazen deception on Tspras’ part. It is particularly pertinent  to recall, at this point, that it was German Finance Minister, Schauble himself, who first proposed a referendum on proposals for Greece back in May and that this same Schauble had been arguing for Greek withdrawal from the euro in the face of the position of Angela Merkel. Merkel now looks on the way out if the latest take down on her by Spiegel is anything to go by. Could it be that, after a murky and convoluted process that has left everyone perplexed, Schauble has won?

Read the rest of this entry »

Posted in Battle for Europe, Financial crisis | Tagged: , , | 1 Comment »

The new multilateral financial architecture

Posted by seumasach on April 5, 2015

Gateway House

1st April, 2015

The announcement that major European powers will join the AIIB as founding members means the bank is now clearly accepted as a tangible game changer in the multilateral financial architecture. The formidable intentions of AIIB and the new transnational corridors project are both a challenge and an opportunity for India

Read more

Posted in Currency Wars, Multipolar world | Tagged: , , | Leave a Comment »

Washington ‘shifts tone’ towards China-led infrastructure bank

Posted by seumasach on March 24, 2015

We appear to be moving inexorably towards a new international system based on multipolarity and, wisely, Washington doesn’t want to be left out. In fact, I believe Obama has had this in mind for some time, but his scope for action is still being restricted by certain lobbies and their representatives in Congress

RT

23rd March, 2015

The International Monetary Fund, World Bank and the Asian Development Bank have expressed their support for the China-led international bank as the US now propose to work in partnership, according to the Wall Street Journal.

Read more

Posted in Multipolar world | Tagged: | Leave a Comment »

China has announced plans for a ‘world currency’

Posted by seumasach on March 8, 2015

Economic Collapse Blog

4th March, 2015

The Chinese do not plan to live in a world dominated by the U.S. dollar for much longer.  Chinese leaders have been calling for the U.S. dollar to be replaced as the primary global reserve currency for a long time, but up until now they have never been very specific about what they would put in place of it.  Many have assumed that the Chinese simply wanted some new international currency to be created.  But what if that is not what the Chinese had in mind?  What if they have always wanted their own currency to become the single most dominant currency on the entire planet?  What you are about to see is rather startling, but it shouldn’t be a surprise.  When it comes to economics and finance, the Chinese have always been playing chess while the western world has been playing checkers.  Sadly, we have gotten to the point where checkmate is on the horizon.

Read more

Posted in Currency Wars | Tagged: , , | Leave a Comment »

UK sees Chinese growth at record rate

Posted by seumasach on December 16, 2014

The partnerships established with China by the British and Scottish governments are already bearing fruit. This is the one mitigating factor in bankrupt Britain meaning the coming crisis will be less apocalyptic than it would be otherwise. Britain has always depended on incoming capital flows. The difference now is that instead of these going into government bonds they are taking the form of FDI(foreign direct investment). This provides us with a chance to run down our debt as the Chinese cash in their sterling-denominated bonds for real assets, and to end our trade deficit as Britain becomes an export base for Chinese companies or manufactures here goods which we have up until now imported from China. I would also expect them to “recapitalise”, takeover, our banks once they have been bailed in. This is the context in which the commitment of all major parties to a balanced budget, guaranteed by financial devolution to the regions or constituent nations, must be understood. There are no buyers for UK government bonds and QE to infinity is impossible. It is also possible now to avoid the complete collapse of the pound and we may instead hope for an orderly devaluation within a new global financial system prior to eventual adoption of the Euro.

China Daily

12th December, 2014

Chinese companies are growing in the UK at an unprecedented rate, adding a significant contribution to the UK economy through growth and employment, according to the Grant Thornton Tou Ying Tracker 2014 in collaboration with China Daily.

According to the Tou Ying 2014 Top 25 tracker which was released on Friday, the 25 fastest growing Chinese companies in the UK this year have generated 38 percent growth overall. Their combined turnover exceeded 25 billion pounds, and together they employ about 4,000.

 

Read more

Posted in UK economy | Tagged: , , | Leave a Comment »

BRICS, South America toast to new financial architecture

Posted by seumasach on July 17, 2014

BRICS Post

17th July, 2014

Leaders of the BRICS nations met with South American leaders Wednesday at the 6th BRICS Summit in Brasília, in the first iteration of what some leaders suggested could become a more permanent alliance.

Read more

Posted in Multipolar world | Tagged: , , | Leave a Comment »

Five reasons why the world needs the BRICS Bank

Posted by seumasach on May 4, 2014

Russia and India Report

30th December, 2013

A new development bank that will complement – and compete with – the World Bank and the IMF is on the fast track. Here’s a primer on why the BRICS Bank is a pretty sound idea.

Read more

Posted in Currency Wars | Tagged: , , , , | Leave a Comment »

 
%d bloggers like this: