Archives USA - Page 148 of 178 - New Eastern Outlook

On the eve of military exercises simulating war with Iran, Israeli Prime Minister Benjamin Netanyahu brazenly and bluntly said: “I have a clear message for Iran and the international community: Israel will do everything it has to do to prevent Iran from building a nuclear bomb.” Apparently, Tel Aviv thinks that it has completely replaced the UN and is solving complex political issues on its own. However, both Israelis and the West in general are silent about the fact that Israel has long had nuclear weapons and the means of their delivery. The principles of democracy and freedom of the press must have completely blocked the eyes and mouths of “democratic” Western scribes…

The current financial crisis in Turkey demonstrates the rapid devaluation of the Turkish lira. After the second round of presidential elections, the Turkish lira has been falling in value almost daily, breaking new historic lows. Thus, on June 22 it overcame the psychological mark of 24 lira per dollar. All of this was the result of obvious irregularities in Turkey’s financial management, when the authorities, for populist purposes and pragmatic reasons of increasing the number of their supporters in elections, artificially kept the low credit rate of the Central Bank to encourage small business and support domestic production. However, the market system of the Turkish economy, one way or another, is integrated into the global economy, where the rules of financial lending and investment are determined not by the Turks, but by their Western allies. Accordingly, the policy of the Central Bank of the Republic of Turkey must take into account the international economic situation and established norms.

The dominance of the US dollar in the global economy continues to wane quietly but relentlessly as many countries actively seek other currencies. First and foremost, they are the BRICS nations of Russia, China, India, Brazil, and South Africa. Although it appeared to be only a few countries, the total population is over 3.23 billion, accounting for more than 40% of the world’s population.  Between 2000 and 2026, the BRICS population is expected to grow by 625 million people, most of them in India and China.  By 2020, the BRICS countries’ total GDP was 25% of the global (21 trillion dollars), and their share in international trade was about 20% (6.7 trillion dollars)…