By Chas Freeman China’s “The Silk Road Economic Belt” and the “21st Century Maritime Silk Road,” or officially called the “one belt, one road” project aims to bring into being a new economic order on the Eurasian landmass. Everything from the Atlantic to the Pacific is to be connected through hyper-efficient infrastructure and new institutional linkages. … Continue reading
By Pepe Escobar, originally posted July 23, 2015 on TomDispatch Let’s start with the geopolitical Big Bang you know nothing about, the one that occurred just two weeks ago. Here are its results: from now on, any possible future attack on Iran threatened by the Pentagon (in conjunction with NATO) would essentially be an assault on the planning … Continue reading
By Jeff Desjardins, Visual Capitalist The dollar has been a stalwart of international trade over the majority of the last century. Around the time of the formation of the Eurozone, it reached its recent peak at 71.0% of official foreign exchange reserves. Since then, its composition of global reserves has more recently dropped to a more modest … Continue reading
By Pepe Escobar As austerity-ravaged Europe watches its undemocratic “institutions” grapple with the Greek tragedy, and the US backtracks on a fair nuclear deal with Iran, geopolitical tectonic plates are shifting in the Urals. Can you feel an inchoate multipolar world? Well, just look right here at the BRICS 2015 Ufa declaration. The EU is hardly … Continue reading
By Mahdi Darius Nazemroaya Get ready for ground shattering geopolitical changes. At the crossroads of Asia and Europe, it has been decided that the Russian city of Ufa will be the point of convergence for all the initiatives and projects of the Silk World Order of trade and integration that China and Russia are spearheading. Ufa, … Continue reading
The $100 billion New Development Bank (NDB), also known as the BRICS bank, which comprises of the members of the BRICS grouping of emerging market nations — Brazil, Russia, India, China, and South Africa — will start lending in local currency by April 2016 and its member countries will be the primarily focus of the bank, K.V. Kamath, the President of … Continue reading
The BRICS grouping of emerging market nations — Brazil, Russia, India, China, and South Africa — have launched their $100 billion New Development Bank (NDB) — also known as the BRICS bank — and have signed an agreement on their $100 billion currency reserve pool — also known as the Contingent Reserve Arrangement (CRA) — ahead of the summit of SCO and BRICS being held in the Russian … Continue reading
China has officially ratified the creation of the $100 billion New Development Bank (NDB), also known as the BRICS Bank, China’s state-run Xinhua news agency reports on Wednesday. China’s Parliament has ratified the creation of the $100 billion New Development Bank (NDB), also known as the BRICS Bank, China’s state-run Xinhua news agency reports on Wednesday. The BRICS grouping … Continue reading
The Chinese-led Asian Infrastructure Investment Bank (AIIB) officially launched on Monday following a signing ceremony of the bank’s articles of association that took place in Beijing. Chinese President Xi Jinping greeted 300 delegates from the bank’s fifty-seven founding-member countries where they would later determine the total share capital, each member’s voting share of capital, the governance structure, decision-making mechanism, and operational … Continue reading
Today, delegates from prospective founding members of the $100 billion Asian Infrastructure Investment Bank (AIIB) will converge in Beijing for a historic signing ceremony centered on the bank’s legal framework, which will lay down the rules, including each member’s share and voting powers, decision-making processes, and the bank’s initial capital. Ahead of the AIIB ceremony, China says that it will hold … Continue reading