Australian authorities approved $438 million Chinese investment in Fortescue Metals Group, Australia’s third-largest iron ore miner. China’s state-owned Hunan Valin Iron and Steel Group received approval to take up to 17.55 percent of Fortescue. The Australian decision was relatively unexpected as a similar Chinese mining investment bid was blocked on Friday and yet another Chinese-Australian investment deal is still waiting for official approval.
Argentina and China signed a currency swap that will allow China to receive renminbi instead of dollars for its exports. Argentina, which mostly imports industrial components and electrical goods from China, supports Beijing’s call for a new global currency reserve regime. China has recently suggested replacing the dollar as global currency and actively promotes wider international use of its own currency.
The Asian Development Bank cut its forecast for economic growth in China to 7 percent from 9.5 percent. Although the Chinese economy is reacting positively to the $585 billion stimulus package and leading indicators are pointing to an economic recovery, the ADB doubts that the stimulus measures are sufficient to create enough jobs. The ADB report concludes that unemployment will be China’s “most pressing issue” as infrastructure projects and other stimulus measures will fail to create enough employment for the country’s growing labor surplus.
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 […]
