What Is India and China Doing That Malaysia Has Neglected To Do? On 27th August 2009 I wrote an article, “An Appeal To Malaysia’s Prime Minister Cum Finance Minister – Re-Examine the Country’s Strategy For Foreign Reserves”, to urge our Prime Minister to examine the critical need to diversify our foreign reserves, specifically to...
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Since 1947, India has not fully pledged itself to any camp or global pole during the Cold War and as a result was a founding member of the Non-Aligned Movement (N.A.M.). Since the post-Cold War era that position has eroded. New Delhi has been gradually moving away from its traditional position, relationships, and policies...
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In 2009, China opened up various exchanges for investment in both gold and silver to the Chinese public, which previously was not allowed to invest in gold and silver. The opening of silver exchanges to the Chinese public is the most recent development and was accompanied by a ban on silver exports. The Chinese government...
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The Bush administration has tried everything to drive a wedge between Iran and Russia – to no avail. The Obama administration now has to deal with some pretty established facts on the ground. In the first part of this report, Pepe Escobar analyzes the implications of the complex relationship between close allies Iran and...
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Increasingly a deep divide within the world of globalization is emerging which will have the most profound significance for the future of G7 nations’ economic and political stability. The divide is between those nations which are still embedded within the dollar system, including countries in the Eurozone, versus those emerging economies—especially the BRIC—Brazil, Russia,...
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Zhou did not mention the dollar by name but said the financial crisis had shown the need for reform. The head of the Chinese central bank has called for a new global currency controlled by the International Monetary Fund (IMF), saying such a move would give governments particularly in the developing world the ability...
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China Pulling Southeast Asia into Its Orbit The global financial crisis is proving a boon for a resurgent China, which is poised to exert ever greater influence in Southeast Asia. While drawing neighbouring countries back into China’s economic orbit has been part of Beijing’s strategy for restoring what it sees as the country’s rightful...
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Fuelling a new world money supply A paper written ahead of the recent G20 summit by Zhou Xiaochuan, governor of the Chinese central bank, caused quite a stir. Zhou called for the establishment of a global reserve currency, a step which would firmly tip the balance of economic power in the direction of emerging...
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(One of our objectives is to help non-specialist readers understand what they are reading in the news. Read Financial Crisis for Beginners.) We had a comment last week asking for an explanation of, roughly, what it is that the Federal Reserve does, so I thought that would be a good topic for a Beginners...
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