world power Archives - gandeste.org

China becomes world’s wealthiest state

contribuitor — Thu, 16 Jul 2009 19:20:01 +0000

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 the world. The Chinese people save up to 75 percent of their country’s GDP in spite of the fact that China does not pay pensions and does not have free […]

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China forced to support dollar to make yuan become convertible currency

contribuitor — Mon, 01 Jun 2009 19:03:23 +0000

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 century. The reserves of the People’s Republic of China are based on dollar assets – $2 trillion. US Treasury Bonds make $700 billion of the amount. China is forced to […]

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Dollar stops being Russia’s basic reserve currency

contribuitor — Fri, 22 May 2009 08:38:40 +0000

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 47.5 percent as of January 1, 2009 and exceeded the investments in dollar assets, which made up 41.5 percent, The Vedomosti newspaper wrote. The dollar has thus lost the status […]

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Brazil and China eye plan to axe dollar

contribuitor — Thu, 21 May 2009 07:02:53 +0000

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 to Luiz Inácio Lula da Silva, Brazil’s president. The move follows recent Chinese challenges to the status of the dollar as the world’s leading international currency. Mr Lula da Silva, […]

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China ready to join US as world power

contribuitor — Mon, 18 May 2009 03:03:07 +0000

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 world trade. The foreign secretary predicted that over the next few decades China would become one of the two “powers that count”, along with the US, and Europe could emerge […]

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