Archives Economics - Page 16 of 24 - New Eastern Outlook

On November 28, David O’Sullivan, EU Special Envoy for Sanctions, visited Kazakhstan. He also spent November 29-30 in Tashkent, as part of a visit to Uzbekistan that took place immediately after his departure from Astana. The publicly announced purpose of the two visits was to “discuss the prospects for trade and economic cooperation with the European Union.” In fact, the envoy had a conversation with the leadership…

As of this writing, US dollar reserves have fallen by 6.5% as foreign central banks cut ties with the currency. The BRICS countries, especially those in the global South, are leading the charge to depart from the decades-long dominance of the American currency. China and Japan’s central bank shares show the most significant rise in central banks. Interestingly, the Euro is just slightly behind in losing a share in the world currency market. If BRICS stops using the USD, there will likely be a financial disaster in the United States, with hyperinflation wreaking havoc across all sectors in the US…

Thailand’s government has put together a serious proposal to build a land bridge across the Thai Kra Isthmus connecting ports on either side, providing an alternative for maritime shipping transiting the Malacca Strait, saving several days of travel in the process. The project, if completed, would transform Asia’s economic and even security architecture. The land bridge, along with the still-under-construction Thai-Chinese high-speed railway, would solidify Thailand’s role as a regional logistics hub connecting the Indian Ocean with the Pacific Ocean, and…