China

Chinese diplomat lectures West on Russia’s “real security concerns” over Ukraine

Western nations should heed Russia’s legitimate security concerns over the volatile situation in Ukraine, a top Chinese diplomat has said in a rare public statement on the crisis that has damaged relations between Russia and the West. Qu Xing, China’s ambassador to Belgium, said the Ukrainian crisis came about due to the ongoing “game”– a […]

Save
Russia ratifies $100bn BRICS New Development Bank

The Russian State Duma has ratified the $100 billion BRICS bank that’ll serve as a pool of money for infrastructure projects in Russia, Brazil, India, China and South Africa, and challenge the dominance of the Western-led World Bank and the IMF. The New Development Bank is expected to start fully functioning by the end of […]

Save
Moscow to Beijing in 2 days: China to build $242bn high-speed railway

China is going to build a $242 billion (1.5 trillion yuan) high-speed rail link between Beijing and Moscow. The line will cut the journey time from five to ‘two days’, say Chinese authorities. The railway will be 7,000 kilometers long and go through Kazakhstan, reports Bloomberg citing Beijing’s city government on the social networking site […]

Save
China pledges to help Russia overcome economic hardships

China’s foreign minister has pledged support to Russia as it faces an economic downturn due to sanctions and a drop in oil prices. Boosting trade in yuan is a solution proposed by Beijing’s commerce minister. “Russia has the capability and the wisdom to overcome the existing hardship in the economic situation,” Foreign Minister Wang Yi […]

Save
Frankfurt begins first European direct settlements in Chinese yuan

European companies now have the opportunity to settle trading accounts in Chinese yuan. The Bank of China in Frankfurt has become the first to operate European yuan clearing. Trading costs will be cut as there will be no dollar exchange first. More than 10 German regional and international banks including Deutsche Bank, Commerzbank, DZ Bank […]

Save
Russia-China trading settlements in yuan increases 800%

Settlements in yuan between China and Russia have increased ninefold in annual terms between January and September 2014, says the Chinese Ministry of Economic Development. “The settlement in national currencies between China and Russia in bilateral trade amounted to about 2 percent in 2013.

Save
“EU may become an increasingly declining part of the world”

The eurozone has huge problems and is holding back the global economy from growing, however the world in general is doing ok, Jim O’Neill, former chairman of Goldman Sachs Asset Management, told RT. Europe’s had a hard time economically in the last few years, with 2014 seeing an especially sharp slowdown in growth. What’s behind […]

Save
The Saudi oil war against Russia, Iran and the US

Saudi Arabia has unleashed an economic war against selected oil producers. The strategy masks the House of Saud,s real agenda. But will it work? Rosneft Vice President MikhailLeontyev; “Prices can be manipulative…Saudi Arabia has begun making big discounts on oil. This is political manipulation, and Saudi Arabia is being manipulated, which could end badly.”

Save
The Lost Hope of Democracy | Consortiumnews

Western nations are fond of using “democracy promotion” as a justification for interfering in other countries, including overthrowing elected leaders (as in Ukraine). But Western democracies themselves often fall short of democratic values, as John Chuckman explains. I read and heard about Hong Kong’s students putting themselves at risk demonstrating for democracy, and my first […]

Save
Great Waldorf of China: Beijing buys legendary NYC hotel for $2bn

The worlds’ biggest hotel operator Hilton Worldwide has sold the iconic Waldorf Astoria in New York to a Chinese insurance company for nearly $2 billion, a record for a US hotel. The deal marks the continued Chinese real estate shopping spree in America. Hilton Worldwide Holdings sold the historic landmark to Beijing-based Anbang Insurance Group […]

Save
Billion-dollar lawsuits claim GMO corn ‘destroyed’ US exports to China

Three class-action lawsuits filed Friday claim that agribusiness power Syngenta is to blame for depressed corn exports to China since the seed company released a genetically-engineered variant of the crop before it was approved by Beijing. At issue is Syngenta’s 2009 release and distribution of its MIR162 genetically-modified corn known as Agrisure Viptera, which is […]

Save
‘US-trained ISIS militants used to reorganize Middle East’

ISIS militants trained by US Special Forces have been used as a lever to create disorder and organize a Sharia state along the lines of an Islamic caliphate to the advantage of the US military, geopolitical analyst William Engdahl told RT. The US military has, in one way or another, been involved in the Middle […]

Save
SCO leaders support Putin’s peace plan for Ukraine

Heads of state of the Shanghai Cooperation Organization say that the crisis in Ukraine is spilling beyond the borders of the country and needs immediate action, while stressing that the only solution to the conflict lies in dialogue and consensus. At a press conference following the summit President Putin said the leaders had touched upon […]

Save
McDonald’s suffers worst monthly decline in more than a decade

The American fast-food giant witnessed a sharp decline in global profits in August, hit by the closure of its restaurants across Russia and a “rotten meat” scandal in China. McDonald’s earnings slid with stores open at least 13 months taking a worse-than-expected hit in August, falling 3.7 percent, the Oak Brook, Illinois-based hamburger chain said […]

Save
Argentina to get $1bn in currency swap with China before end of 2014

Argentina will receive the first tranche of yuan worth up to $1 billion in a massive currency swap with China before the end of this year. The deal will boost the troubled economy’s foreign reserves. It comes as part of a loan worth $11 billion signed in July by Argentina’s President Cristina Fernandez de Kirchner […]

Save