“[Hugo] Chávez was an outstanding leader of Venezuela, and a good friend of the Chinese people,” noted China’s foreign ministry on Wednesday. Whatever personal sorrow might be felt in Beijing this week, China’s regret at the strongman’s passing is founded largely on worries over the future of economic relations with his government.
Those relations have grown considerably in recent years. According to Matt Ferchen, a scholar at the Carnegie-Tsinghua Center [...]
It would seem obvious that both sides have more to lose in disrupted economic relations than they could gain from controlling a few mostly inconsequential islands. But if combative rhetoric and political grandstanding prevail, then the economic calculus may shift from protecting mutual benefits to assessing which side will be hurt more if economic pressures are brought to bear. Read more
Sudarsan Raghavan and Andrew Higgins
March 24, 2012
JUBA, South Sudan — On the day South Sudan became independent last year, China opened an embassy here, eager to protect its oil interests. It quickly dispatched its foreign minister and began discussing a huge aid package for this destitute land.
Just a few months later, Beijing finds itself trapped in a bitter wrangle between South Sudan and its former rulers in Sudan, with [...]
Prof. James Petras
Monday, December 26, 2011
The economic, political and social outlook for 2012 is profoundly negative. The almost universal consensus, even among mainstream orthodox economists is pessimistic regarding the world economy. Although, even here, their predictions understate the scope and depth of the crises, there are powerful reasons to believe that beginning in 2012, we are heading toward a steeper decline than what was experienced during the Great Recession [...]
Central banks around the globe have joined the gold rush, As The World Gold Council’s Latest Report Makes Clear. This is especially true of the central banks of rapidly growing emerging countries. Up until the third quarter, the central banks of Russia, China, Thailand and Mexico increased their gold reserves six-fold in comparison with the same period last year, which amounts to a total increase of 148.8 tonnes.
In comparison with the [...]
If America’s good days are over, so are China’s
“Be careful with what you wish,” goes an old saying. “Because when it comes true, it may not be good for you.”
Everyone who follows closely US-Chinese economic relations cannot help but be puzzled by China’s bold statement, after the S&P downgrade of US debt, that “America’s good day’s over.“
While China, as America’s largest foreign investor in US Treasuries, has [...]