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Effective Monday (Dec 5, 2022), the West has slapped a price cap on Russian oil at US$60 per barrel. Designed by the Group of Seven (G7) to limit Moscow’s revenues from oil exports so that it would cripple its ability to finance the ongoing Ukraine War, the price cap means Russia can export crude oil […]
... written on Dec 06 2022After the U.S. and Europe imposed sanctions on Russia over Ukraine invasion, it triggered a massive devaluation of the country’s currency – ruble. Russians lined up at ATMs to withdraw their money. The Bank of Russia immediately hiked the interest rates to 20% to slow the withdrawal, as the ruble plunged 30% against the US […]
... written on Nov 30 2022As Russian forces fired at least 85 missiles across Ukrainian cities, a missile hit the village of Przewodów, Poland, killing 2 people and forced Biden to convene an emergency meeting on the final day of the Group of 20 (G-20) meeting in Indonesia. The U.S. president, who was awakened overnight by staff with the news […]
... written on Nov 16 2022Business Comes First – Chancellor Scholz’s Visit To Beijing Shows Germany Needs China More Than Ever
German Chancellor Olaf Scholz’s official visit to Beijing on Friday (Nov 4) marked the first time a leader of the Group of Seven (G7) nations rubbed shoulders with Chinese President Xi Jinping after the 20th National Congress of the Communist Party. His arrival was also the first by a leader of the G7 since the start […]
... written on Nov 05 2022After the Nord Stream gas pipeline was blown up last month (Sept 26), questions have been raised over who did it. Both the West and Russia agreed it was sabotage, which means it was not an accident. It was a pre-planned terrorist attack to permanently terminate any hope of Europe going back for Russian gas. […]
... written on Oct 31 2022As the world’s reserve currency, the U.S. dollar is the king of the financial world. However, the American government abuses the currency hegemony as a primary tool to advance its geopolitical interests to the extent of arm-twisting the rise of other nations. Not only Russia’s US$630 billion in foreign reserves were frozen, the world has […]
... written on Oct 27 2022Some 6,000 Chinese nationals had returned to China in March after Beijing started a large-scale evacuation in Ukraine following Russia “special military operation” on February 24. The evacuation was triggered based on safety concerns as a result of increasing hostility from angry Ukrainians, who were targeting Chinese citizens due to China-Russia friendship. The Chinese […]
... written on Oct 19 2022In 2018, Donald Trump attacked Germany, Europe’s largest economy and one of NATO’s most important members. The U.S. president warned that the country was making a big mistake in totally dependent on Russian energy. Trump’s speech at the United Nations was laughed by Germany’s UN delegation. Today, Western media are mocking and laughing at Germany’s […]
... written on Oct 12 2022On Wednesday (Oct 5), gas prices hit record highs in many parts of California. In some southern California locations, gasoline spiked to more than US$8.00 per gallon. Statewide, prices reached US$6.42 per gallon – nearly US$3 higher than the national average of US$3.83. While the blames are on regional refinery outages and Ukraine War, something else happened that […]
... written on Oct 07 2022Beijing knew it could not make “Yuan” (Renminbi) an internationalized currency overnight, nor could it replace the U.S. dollar’s dominance in the global system with the Chinese currency. China has US$3.0549 trillion in foreign exchange reserves (end of August) – the largest in the world. About a third – US$1 trillion – of its foreign […]
... written on Oct 05 2022
