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Archive for world power

China becomes world’s wealthiest state

China’s gold and currency reserves have recently hit the mark of $2 trillion. The nation can now boast of having the largest state reserves in »»

China forced to support dollar to make yuan become convertible currency

China is uncomfortable about being the principal creditor of the United States. Asia’s largest nation became the hostage of the US economy in the 21st »»

Dollar stops being Russia’s basic reserve currency

The US dollar is not Russia’s basic reserve currency anymore. The euro-based share of reserve assets of Russia’s Central Bank increased to the level of »»

Brazil and China eye plan to axe dollar

Brazil and China will work towards using their own currencies in trade transactions rather than the US dollar, according to Brazil’s central bank and aides »»

China ready to join US as world power

David Miliband today described China as the 21st century’s “indispensable power” with a decisive say on the future of the global economy, climate change and »»