The European Union is facing a severe crisis marked by unfulfilled promises of democracy, equal exchange, and shared prosperity. The situation is particularly dire for some EU nations, with Greece, according to a recent Financial Times report, on the brink of becoming the poorest member of the EU. Despite Bulgaria currently holding that position, its economic trajectory is set to overtake that of its southern neighbor…

With every single day passing, Israel has been breaking the records of brutality and war crimes in Gaza since October 7, 2023. The Israel-Hamas war has been continuing for months now. More than 34000 people, the majority of civilian women and children, have been killed in Israel’s genocide in Gaza. Israeli forces have been using various illegal weapons to torture civilians in the occupied land…

Several African nations are beginning to take decisions in order to repatriate their gold-currency reserves from the United States, notably Nigeria and Ghana. In fact – this process is in reality truly global in scope – both at the African continental level and internationally. De facto, Washington himself sawed off the branch on which he had been sitting for a long time. And with the current realities specific to the framework of the multipolar world order, the process will only accelerate…

Kremlin Spokesman Dmitry Peskov recently told reporters that “No matter what else occurs regarding Ukraine, United States business and leadership put money in their pockets. While TASS news agency is not considered prime news for Westerners, it should be. It turns out the American leadership and militarists have no qualms about admitting the profitability of war in Ukraine.” Let’s run with a quote from Mr. Peskov via TASS…

The International Monetary Fund (IMF) and Pakistan reached a staff-level agreement in March 2024 for the release of the remaining $1.1 billion out of the total $3 billion bailout package. The 9-month bailout package was sought by the Pakistani government last year to avert the sovereign debt. The country has been dependent on IMF loans for decades to fuel its staggering economy. This was Pakistan’s 24^th engagement with the Washington-based lender…

In mid-2023, as part of its preparation of the country’s 2024 budget, Mongolia’s Ministry of Finance prepared a number of documents containing assessments of national economic development prospects for the next three years.  These documents, which are available on Mongolia’s impressively comprehensive official database, allow observers to assess the Mongolian government’s views on their country’s development potential…

Many worldwide have been waiting for the other foot to fall on the conflict in Ukraine. Finally, good old Germans are the ones to plop down the telling jackboot. Making money off the blood-soaked ground of Europe’s most corrupt and (now) pitiful country is what it’s all about. Germany now proposes to open the gate for private investment funds to make debtors out of a crippled nation. And the Russians are the bad guys?…

The Red Sea holds immense significance in international maritime trade. Two choke points, the Suez Canal and the Bab al-Mandab, hold critical value in this sea route. Around 22 percent of global maritime container trade passed through the Suez Canal in 2023. Bab-el-Mandeb strait is used to access this Canal by ships traveling from Europe. The Red Sea hosts almost 12 percent of global trade, 21344 vessels per day, amounting to $1 trillion in goods, and 10 percent of maritime trade…

U.S. President Joe Biden seems to be using a foreign acquisition of an American company as a rallying point for his upcoming re-election bid. Biden says Nippon Steel’s acquiring U.S. Steel will be a threat to national security, and the loss of a “national treasure.” The question is, “Is this Japanese buyout really the central issue?” By the time you’re done reading this report, you’ll understand why it is not…

Two weeks after the meeting of the Chinese parliament, commonly referred to as the “Two Sessions”, held in the first half of March this year, two equally noteworthy forum events were held in Beijing and immediately afterwards in the resort town of Boao (on Hainan Island), attended by Chinese and foreign experts. The main theme of the latter was the implementation of a fundamentally innovative trend in the country’s economic policy, the main provisions of which had been outlined by the Chinese…

According to the Statistical Service of Kazakhstan, the total volume of goods transported by rail between Kazakhstan and China reached 23 million tons as early as 2022 and grew by a record 22 percent last year. In view of this high volume of freight traffic and the clear upward trend, the Kazakh authorities are having to invest heavily in the development of new railroads in order to serve the growing freight volumes and enable the rapid and efficient delivery of goods through the country…

The Scottish aristocrat and British Prime Minister (1963-1964) Sir Alec Douglas-Hume once said: “There are two problems in my life. The political problems are insoluble and the economic problems are incomprehensible.” His words also reflect very closely the economic realities of modern Turkey. Recep Erdoğan and his Justice and Development Party (AKP) came to power in 2002 amid an economic crisis and widespread criticism of the economic policies of the previous government, led by Bülent Ejavit, which had seen the country’s GDP fall by 10 percent…