Archives Economic development - Page 13 of 15 - New Eastern Outlook

The India-Middle East-Europe Economic Corridor (IMEC) was hailed as a major geopolitical breakthrough immediately after it was announced at the 2023 G20 summit held in India in the second week of September. The IMEC is a trade corridor that will connect India with Europe via sea and rail links passing through the UAE, Saudi Arabia, Jordan, and Israel. Most political pundits from around the world saw this development as an “obvious” alternative to China’s Belt & Road Initiative (BRI)…

In the annals of financial history, few narratives are as captivating as the ascent of the United States Dollar. Since the seminal Bretton Woods Agreement of 1944, the greenback has wielded unparalleled influence, staking its claim as the world’s de facto currency. Anchored to the universally accepted Gold Standard and complemented by the establishment of international financial institutions like the IMF and the IBRD (now the World Bank), both generously funded in dollars for the development of emerging nations, the USD embarked on an unparalleled journey. Concurrently, co-operation between the United States and oil-rich…

The test run of Russian, Mongolian and Chinese transport companies took place on 22^nd of September, 2023 along the AH4 international highway, which connects Novosibirsk with the Pakistani city of Karachi through the territory of Mongolia and China. The length of the highway is more than 6,000 kilometers. In November 2022, the Mongolian section of the highway was brought into use. This run was held in order to identify the degree of serviceability of this way, on the roads of which transit traffic…