China is working to make the Yuan the international currency of trade, by approving international hubs where its currency can be exchanged/converted directly into the Yuan as opposed to first converting a States’ currency into the U.S. Dollar. Currency hubs are now located in such places as Australia, Hong Kong, Taipei, Singapore, Paris, Seoul, London and Frankfurt.
Ethiopia has underscored its right to dam the Nile River and contends that that right is based upon the Harmon Doctrine, which the United Nation states is a State’s unlimited use of the waters from a transboundary watercourse that is located within its national borders. Without consensus disagreements about the consumption of transboundary water coupled with Ethiopia’s reliance on that Doctrine, States such as Egypt face serious consequences because it is geographically located downstream from its major source of water, which can potentially impact that State’s agricultural industry and possibly reduce the amount of drinking water available for its citizen.
This summer, China spearheaded an agreement with Brazil, Russia, India and South Africa (known collectively as the “BRICS” countries) to create financial mechanisms that would challenge the International Monetary Fund (IMF) and as CNN’s Commentor Fareed Zakaria said no “these are worrying signs . . . because Beijing’s efforts will surely succeed. http://wapo.st/1EI46jP. As I mentioned, […]
It is common knowledge to the informed that 2/3 of Russia’s natural gas export to Europe travels through Ukraine via an oil pipeline, which has been frequently shut off by Russia as an effort to remind Europe and Ukraine that it is still relevant. Prior to the annexation of Crimea by Russia Ukraine had been […]
Unknown to some of us cursory readers it appears that Russia is the biggest looser resulting from its conflict with Ukraine. Prior to the annexation of Crimea by Russia, the 2 million people living in the Crimean Region was totally dependent on Ukraine for approximately 80% of their water supply and during the winter months they […]
The price of doing the right thing can be detrimental to average citizens and equally so for sovereign States. An example of such action is the European Union (EU) joining the U.S. in sanctioning Russia for its incursion into the Ukrainian state of Crimea. The risk to the EU is monumental because according to an […]