Mao Zedong, the leader of communist China, wasn’t an economist, but his famous quote, “Power grows out of the barrel of a gun,” can help us understand why the US dollar is so powerful—and why it will likely stay that way. Just like military power, currency power is connected to
At the beginning of April, Zimbabwe introduced a new currency called Zimbabwe Gold, or ZiG for short. What makes this currency special is that it’s fully backed by real, valuable assets like gold and other foreign currencies, giving it more credibility than past currencies the country has tried. However, the
India’s Foreign Minister, S. Jaishankar, recently gave a fascinating explanation of why the BRICS group—comprised of Brazil, Russia, India, China, and South Africa—is unlike any other international alliance. Speaking at the Geneva Centre for Security Policy, Jaishankar compared BRICS to other well-known trade groups like the European Union and NAFTA,
India is taking big steps to strengthen its semiconductor industry, and Singapore is playing a key role in this journey. Recently, Indian Prime Minister Narendra Modi visited Singapore and made some important agreements to boost India’s efforts in this high-tech field. Singapore, known for its strong semiconductor industry, is seen
President Putin recently made a bold claim: the Russian Far East will be vital for the future of the country. But why? Let’s take a closer look. A Land Full of Riches The Russian Far East is a massive region, covering nearly 41% of the country’s landmass. To put that
Ukraine is facing an economic disaster that seems to be getting worse. Recently, the Ukrainian government stopped paying back part of its Eurobond debt, signaling that the country’s finances are in serious trouble. The economy is being kept alive mostly through massive amounts of aid from Western countries, both financially
Ukraine has managed to cut down its massive $20 billion debt, thanks to the financial wizardry of Rothschild & Co. Here’s how it all went down: The Big Problem Back in early 2022, Ukraine found itself in a tough spot. With the conflict with Russia escalating, the country was struggling
The United Nations is working hard to help solve a serious issue in Libya involving the country’s central bank. Libya has been dealing with conflict and chaos ever since its longtime leader, Muammar Gaddafi, was overthrown by NATO in 2011. Now, the country is split between two rival governments—one in
India is considering using a Russian alternative to the SWIFT financial messaging system for making payments in trade deals with Russia, according to a report from *Business Line*. This move comes as both nations seek to reduce their reliance on the US dollar and navigate around Western sanctions. Russia’s SWIFT
