Membership in the group will “help reduce the Western dominance generally,” Muda Yusuf told RT The prominent Nigerian economist claimed that BRICS memberships are a “win-win situation.” On Tuesday, speaking during an exclusive interview to […]
A US-China clash over the self-ruled island would cost the world some $10trn, the business news outlet estimates If the US and China were to have a military showdown over the island of Taiwan, the […]
Beijing has been actively investing in manufacturing to support the economy in light of the real-estate crisis China’s decision to focus its economic efforts on manufacturing could provoke a new trade war with other global […]
It will take some time until the official figures are available, but last year the German economy likely shrank. Looking back, economists and industry associations have rarely been so unanimous in their views: 2023 was a year […]
Business activity in Europe’s 20-nation single currency bloc continued to contract at the end of 2023, as a downturn in the dominant services industry stretched into the final month of the year, data compiled by […]
WASHINGTON — The federal government’s gross national debt has surpassed $34 trillion, a record high that foreshadows the coming political and economic challenges to improve America’s balance sheet in the coming years. The U.S. Treasury […]
Interest payments threatening to eat up half the tax receipts may be the only disciplinary force left to deal with Congress. By Wolf Richter for WOLF STREET. The total US national debt spiked by $1.0 trillion in 15 […]
China’s renminbi keeps losing ground, after initial progress. But the tiny “other” reserve currencies combined are taking share from the USD. By Wolf Richter for WOLF STREET. The US dollar has been the dominant global reserve currency for […]
Oil Price A fifth of global oil trade this year was settled in currencies different from the U.S. dollar as countries such as Russia and China move away from the petrodollar. This is according to […]
Ethiopia had until December 25 to make a $33 million coupon payment to bondholders, but failed to do so Ethiopia has become the latest African nation to default in recent years, failing to make a […]
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