Archives Economic development - Page 32 of 35 - New Eastern Outlook

Recent events in the political life of the United States raise more and more questions about whether the authorities in Washington can function normally. Passions in the American Congress have heated up over the adoption of the next budget: the national debt is huge. Three months ago, it amounted to 32 trillion dollars; now it has passed the mark of 33.5 trillion dollars (in one day the Americans increase their debt load by an amount equal to the entire national debt of Russia). This situation worries practically the whole world, especially considering America’s share in the world GDP…

The ever-expanding list of Western sanctions on Russia has an unexpected and less-than-desirable effect. Central Asian countries are experiencing unheard-of growth due to Russian businesses and investors moving to the region. A brief look at Tajikistan’s 7.5% GDP growth, Uzbekistan’s predicted 6.5%, Kazakhstan at 5%, followed by Kyrgyzstan with 4.6%, and the brilliant economic warfare waged by the West is a losing proposition. North Americans and Europeans are the only people being hurt by the proxy war in Ukraine and its economic facets…

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)…