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The Internationalisation of the Yuan (I)

The issue of turning the yuan into an international currency is the subject of much controversy. Some believe that Beijing should opt for full convertibility of the yuan, turning it into a fully-fledged international currency. Others believe that the yuan is already an international currency, citing impressive figures that reflect the growing use of the Chinese currency in international trade. Still others hold the view that turning the yuan into an international currency would be of no benefit to Beijing, and the Chinese authorities are even intentionally preventing it. The complexity of the problem lies in the fact that moving the yuan towards internationalisation involves three distinct phases: turning the Chinese currency into a) a trading currency, b) an investment currency, and c) a reserve currency...

Valentin KATASONOV | 19.10.2014


 

Finnish Word Мaalaisjarki Means Common Sense in English

In response to Washington-inspired sanctions imposed by the West Russia banned food products from the European Union, the United States, Australia, Canada and Norway... Having become hostages of the EU myopic policy, European companies lose profits and have to fire their employees to fill the ranks of European unemployed. Valio, a Finnish dairy producer, is a good example. Recently it has announced one more round of job cuts... Esa Luomanperä, a joint stock company director, warned about problems to emerge in case export is stopped. In Finnish maalaisjarki does not exactly mean common sense. The word has a special meaning hard to convey with the help of literal translation. It is related to the notion of reasonable thinking and practical wisdom – a kind of pragmatic mentality typical for peasants. Maalaisjarki is what Esa Luomanperä alludes to when he says that Western politicians should be able to look ahead a bit, «The ongoing trade war is like a chess game. And it takes two to play chess»...

Vladimir NESTEROV | 05.10.2014


 

German Business Loses Trust in EU

The leading European economy is hitting snags on the way. The Germany’s confidence indicator has pointed sharply down this month. The country’s economy is losing steam due to the sanctions imposed by the West on Russia, something that aggravates the economic slowdown throughout the European Union... The situation gives rise to growing discontent of European businessmen with the «sanctions war» against Russia as it stimulates the emergence of more grievances to face... The growing problems that negatively affect the European Union, the euro zone and Germany make Washington happy. The Europe’s loss is the US gain.

Pyotr ISKENDEROV | 29.08.2014


 

US Wages War against EU to Make Europeans do Fighting and Shoulder Expenditure

European politicians are eloquent enough as they pronounce speeches about the need to counter the «Russian aggression» and defend democracy and «territorial integrity» of Ukraine. But everyone who knows the first thing about politics realizes it’s nothing but words... The defence of «territorial integrity» is guaranteed by mass massacre of civilians living in the two regions that said yes to independence at referendums. In comparison no referendum was held in Kosovo but it was immediately recognized by the United States and the European Union member-states... The main goal is to damage the Russian oil and gas industry and complicate Russian energy supplies to Europe. In other words the United Sates aims to create obstacles on the way of re-industrialization...

Alexander DONETSKY | 28.08.2014


 

The European Union and the Trade War with Russia (III)

...Opposition to the introduction of sanctions by Brussels against Russia will primarily arise in those countries in which Russia is relatively dominant in foreign trade compared to the US (there are 12 such countries in the EU). At the same time, Washington's political dominance in some of these countries will exacerbate the socio-political situation. Public opinion polls in Lithuania, Latvia and Estonia, for example, show that the vast majority of respondents are opposed to their country's involvement in sanctions, and, since Brussels started going along with US sanctions, the percentage of respondents in favour of their country's withdrawal from the European Union has begun to rise.

Valentin KATASONOV | 18.08.2014


 

The European Union and the Trade War with Russia (I)

The issue of the trade and economic war between the West and Russia instigated by Washington has intensified in recent days. The United States is unable to conduct a trade and economic war against Russia by itself, since trade volumes between Russia and America are relatively modest. In 2013, US imports from Russia amounted to $11.2 billion, while exports from the US to Russia amounted to $16.5 billion. Accordingly, America’s share of Russian exports last year was 2.5 per cent, and its share of imports was 6.0 per cent. In 2013, the US ranked just 20th on the list of Russia’s trade partners. But the share of countries in the European Union, made up of 28 countries, last year reached 50 per cent of Russia’s foreign trade turnover. In other words, Washington is unable to unleash an economic war against Russia without its European allies...

Valentin KATASONOV | 16.08.2014


 

Argentina Declared in Default – Warning to Ukraine

Actually Argentina has defaulted on its foreign debt. Such things happen in the contemporary world, the country has become a victim of financial vultures and the so-called legal imperialism of the United States... Argentina is the best illustration of how the legal imperialism works... On July 31 Ukraine’s Prime Minister Yatsenyuk made a loud-voiced statement. «The first major economic news today is that Argentina went into default», he told lawmakers. «And the second is that Ukraine didn’t default, and it never will». Perhaps he pins his hopes on the US sponsors. There is little ground to believe that Washington will grant billions (or even dozens of billions) to have the Ukraine’s debt restructured. Brussels will hardly lift a finger to help because the plight of the European Union is quite comparable with the debt problems faced by Ukraine...

Valentin KATASONOV | 03.08.2014


 

German Biotech Lobbyism Echoes in Eurasia

Recent decision of German Poultry Association to allow use of genetically modified soy in poultry operation triggered new discussions on biotech food safety and GMO lobbyism. Consumers in the European Union should have the right to choose between organic and GMO food before the World Trade Organization neoliberal rules go into full effect... The EU agricultural sector is ineffective and extremely costly. Almost 40% of the total EU budget is still spent on the Common Agricultural Policy. In some countries political battles for agricultural subsidies take grotesque forms. For example, in March French farmers were so enraged at Brussels’ policy that they stormed into Paris' iconic Louvre museum with a herd of sheep, Euronews reported...

Igor ALEXEEV | 21.05.2014


 

Ukraine: Military Crimes and Interests of Transnational Corporations

On April 12, 2014 the Ukrainian military first clashed with the people of Slavyansk, a small city eastern part of Ukraine (population around 120 thousand)... In 2013 Shell made known its plans to start extraction of shale gas here in violation of ecologic norms. The contract envisioned taking property away from owners in case it stood in the way of cleaning the space for drilling. Slavyansk is where the first wells are to appear according to the plans. The area of shale gas extraction includes the neighboring Kramatorsk... The choice of area for waging combat actions is a proof that the Kiev regime serves the business interests of Shell...

Alexander DONETSKY | 17.05.2014


 

What’s Behind the Campaign to Combat Banking Secrecy?

The institution of banking secrecy is on the brink of death. The destruction of the World Trade Center in New York on 11 September 2001 and the 2007-2009 financial crisis can both be considered fateful events for the future of banking secrecy. The first event was the start of the fight against terrorism organised by Washington, under the pretext of which the US authorities began trying to obtain open-ended access to information about banks’ customers, their accounts and transactions. The Patriot Act, passed after 11 September 2001, provided US intelligence agencies with full access to what had been classified banking information in America without having to obtain special permission from the public prosecutor’s office and the courts. Through various international organisations (the OECD, the IMF etc.), Washington later began to seek free access to banking information throughout the world...

Valentin KATASONOV | 15.05.2014




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OUR COLUMNIST
    Wayne MADSEN

9/11 Was NATO’s License to Expand Globally

The 9/11 attacks on the United States undoubtedly benefited a number of actors, including the American military-intelligence complex, Israel, and most definitely, the North Atlantic Treaty Organization (NATO). The Cold War-era, the area of responsibility for which had long been confined to Europe and North America, used the provisions of Article 5 of the NATO Charter – which states that an attack on one member is an attack on all – to extend NATO’s power deep into Eurasia, particularly in Afghanistan, Pakistan, and Kyrgyzstan...

30.10.2014
 
 
 
 
 
 
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