The US House Judiciary Committee passed a bill on Thursday that would allow the Justice Department to sue members of OPEC for manipulating the oil market. According to Max Keiser, “this little alliance [between OPEC and the US – Ed.] has been going strong since the 1970s,” as the quid pro quo was that the US […]
Global central banks bought more bullion last year than at any time since 1971, when the US ended the gold standard. Governments added 651.5 tons of gold to their coffers in 2018, according to the World Gold Council. It said that Russia, China and Turkey are leading the gold-buying spree.
Retail sales in China are poised to surge this year and exceed US retail by more than $100 billion, bringing it the crown as the top global retail market, according to a forecast by research firm eMarketer.
Richard D. Wolff is Professor of Economics Emeritus, University of Massachusetts, Amherst where he taught economics from 1973 to 2008. He is currently a Visiting Professor in the Graduate Program in International Affairs of the New School University, New York City. Earlier he taught economics at Yale University (1967-1969) and at the City College of […]
Chinese investments in North America and Europe fell by 73 percent last year as a result of tightened US scrutiny of foreign takeover deals and Beijing’s restrictions on outbound investments. Data from law firm Baker & McKenzie showed that Chinese foreign direct investment (FDI) flows into the United States have also turned negative, falling to […]
Trade turnover between Russia and China soared by nearly 30 percent in 2018, reaching a record number of $107.06 billion, according to the latest report released by China’s General Administration of Customs (GAC). The agency noted that last year Russian imports of Chinese goods increased by 12 percent to $47.98 billion.
The United States Department of Defense’s supply chains have deteriorated, and they now require significant modernization – and taxpayer funding – if Washington wishes to make war with Russia or China, according to an internal Pentagon report.
Aside from the trade wars, Apple has been hurt by a boycott in China and its own apparent arrogance towards Chinese laws. Apple had to cut its revenue outlook for the latest quarter, citing what it called an “economic deceleration” in China and emerging markets, according to a report by Agence France-Presse.
The Chinese robotic probe Chang’e 4 has landed on the dark side of the moon, becoming the first manmade craft to alight on the unexplored surface, according to reports from Chinese state media.
Tensions between Washington and Beijing have escalated in recent months amid a growing number of US Navy “freedom of navigation” missions in the South China Sea and Chinese efforts to beef up its military presence in territories over which several Asian powers have overlapping claims.
BEIJING (Sputnik) – Liberalization of the Chinese banking legislation provides Russian banks with an opportunity to receive full-fledged licenses for their work in China, Russia’s Trade Representative in the Asian country, Sergey Iniushin, told Sputnik.
The wars of words between Donald Trump and Justin Trudeau may have grabbed headlines, but Canada has always remained a faithful US ally, apparently believing it’s a safe bet. The strategy, however, has backfired.
China is stepping up its involvement in Syria, not with its military, but with cash. For Beijing, war-torn Syria is an opportunity for reconstruction business. For Damascus, prosperity means peace.China’s Foreign Minister Wang Yi and his Syrian counterpart Walid Muallem have shown through their cordial discussions that Beijing and Damascus are on the same page when […]
China’s state-owned energy major CNPC has replaced France’s Total in Iran’s South Pars gas project, according to Iranian Oil Minister Bijan Zanganeh. The French company withdrew from Iran under pressure of US sanctions.
The current trade row between Washington and Beijing escalated in July, when the US announced 25 percent duties on $50 billion worth of Chinese goods, to which Beijing responded by imposing restrictions on the same amount of US imports.