There is a possibility that China may become the third largest voting power at the International Monetary Fond (IMF) after the European Union and the United States. China, which currently holds a quota of 3.7 percent, may overtake Japan (6.1 percent) and establish itself right behind the U.S. with 17.1 percent and the EU member states with 32 percent. The IMF decided in a meeting in April to reform its governance structure in order to better reflect the economic importance of emerging economies. The reform process is scheduled to be completed by January 2011. With a higher quota China would also have to provide the IMF with more funding and take more responsibilities in the IMF’s decisions.
China’s industrial output growth last month slowed down from March and was less than half the rate of April 2008. With a comparatively weak growth of 7.3 percent industrial production was mainly backed by government’s economic stimulus measures. The new data raised uncertainty whether Chinese recovery is under way and sustainable yet. Generally, officially released statistics tend to overstate consumer demand and are inflated by stimulus measures. Analysts point to drops in electricity production and crude steel output in April, while industrial output and car production grew in the same period.
Chinese shipbuilders reported a drop in new orders of 95 percent for the first four months this year. Demand for new ships is on a record low due to overcapacity and low international trade volumes. The bleak financial situation for China’s shipyards is exacerbated by cash shortages and higher financing costs.
A few months ago, I wrote about the early stages of the conflict in Ukraine through the lens of Sun Tzu’s The Art of War. While it appears likely that the war will carry on into the foreseeable future, enough time has passed for us to make an honest assessment of each side’s relative […]
The Ukrainian Army has made dramatic strides in the last few weeks. Ukraine’s tactical commanders have outfoxed their Russian counterparts, and by issuing a feint towards the south the UA has been able to earn substantial gains in the north of their country. The impact of these efforts have been compounded by the steady stream […]
In mid-May the Irish political party, Sinn Féin, won the plurality of seats in the Northern Ireland Assembly. Many American readers might not fully understand the significance of Sinn Féin’s political victory- but rest assured that subjects of the United Kingdom and a wide range of political movements the world over have heard the message […]
The first wave of the Russian offensive in Ukraine has fallen short of Russian autocrat Vladmir Putin’s ambitions. Most analysts deduced that Putin had hoped to achieve a decapitation strike of the Ukrainian government- taking Kiev and replacing Ukrainian President Vladimir Zolinski with a pro-Kremlin voice. Kiev has been threatened repeatedly through the course of […]
On the weekend of March 26th, the notorious MS-13 gang went on a massive killing spree in El Salvador which left more than 70 people dead by Sunday. Even for a country where powerful gangs hold massive sway, this recent tragedy stands out considering that it was the bloodiest day on record since the civil […]
