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After the devaluation of the yuan, the international financial markets started trembling. Washington accused Peking of taking advantage of the market. As China wants to incorporate the yuan into the Special Drawing Rights, it is inconvenient to prolong the devaluation. Furthermore, if a currency war broke out, China would risk increasing the economic and geopolitical tensions between countries in the Asian-Pacific region.
economics
In international press, a lot of ink has been devoted to the BRICS. Without a doubt the participation of the five-party in the world economy block has increased over the course of the last years, competing directly with the United States and the European Union. However, the details about the New Development Bank and the Contingent Reserve Arrangement make it clear that its members resist to abandoning the orbit of the dollar in order to destroy the shell of the Bretton Woods institutions.
The members of the G7 just ended their 41st summit. The leaders of Canada, France, Germany, Italy, Japan, the UK and US gathered in a great Bavarian palace, the Schloss Elmau. It was a fitting location for the masters of the universe.
They claim that the maintenance of world order is their passtime. In fact, what they are most interested in is the preservation of their power at any cost.
The Board of Control of the State Water Resources adopted rules requiring cities to limit watering of public property and encourage homeowners.
California regulators adopted unprecedented broad restrictions on how people and companies can use the water because of the intense drought in the state.
The Board of Control of the State Water Resources on Tuesday approved rules requiring cities to limit watering of public property and encourage homeowners to dry their lawns.
Venezuelan President Nicolas Maduro today announced measures against the Federation of Chambers of Commerce and Production of Venezuela (FEDECAMARAS), which he accused of being behind an economic war, aiming to destabilize the country.
In a ceremony held in the state of Anzoategui (east), Maduro also accused the Fedecdmaras of causing misery, by provoking high inflation and commodity shortages.
In Latin America there are some 420 aircrafts manufactured in Russia which include a hundred helicopters Mi-8/17, 18 fighters Su-25, 31 MiG-29 and 70 MiG-21. On Wednesday Rostec the Russian state company said it is considering creating a center for aircraft maintenance and Russian helicopters in Latin America. “Rostec” has revealed that the first center for component repairs and parts replacement, as a pilot project will be created in Peru.
The Senate approved with 53 votes in favor and two against the government initiative of Cristina Fernández, which has already been backed by the Chamber of Deputies.
With the enactment of the law on Wednesday, the Argentine State recovered control of the freight and passenger rail system, privatized in the 1990s.
In fact the State has regained control over most of the country’s railway lines because of failure of the companies that controlled them to provide the services.
Brazilian President Dilma Rousseff, acknowledged today that there is an "economic problem" in the country, although she hopes that the recovery will come later this year thanks to fiscal adjustments, made by the government.
"Without a shadow of doubt, there is an economic problem in the country. We had a very difficult economic situation," said Rousseff during a meeting with bloggers and journalists from several Brazilian news portals.
The United States and the Kingdom of Saudi Arabia became very uneasy when the Yemenese or Yemenite movement of the Houthi or Ansarallah (meaning the supporters of God in Arabic) gained control of Yemen’s capital, Sanaa/Sana, in September 2014. The US-supported Yemenite President Abd-Rabbuh Manṣour Al-Hadi was humiliatingly forced to share power with the Houthis and the coalition of northern Yemenese tribes that had helped them enter Sana.
Defence secretary expected to announce reinforcements of troops and equipment after Argentina said to be buying long-range bombers from Russia
Britain is to “beef up” the defence of the Falkland Islands the government has confirmed, amid reports of an increased risk of invasion by Argentina.
