Thursday, September 14, 2023
Geee..
Tilting..
The BRICS summit ended on a positive note last month as the alliance took a historic decision to induct six new countries into the bloc. The six countries that will join BRICS are Saudi Arabia, the UAE, Argentina, Iran, Egypt, and Ethiopia. Five countries, except for Argentina, are oil-producing nations that control 42% of the global oil supply. Therefore, the BRICS expansion has ruffled feathers in the U.S. and the European Union, as the alliance is seen as a threat to the Western-dominated financial markets.
Reinhard Butikofer, the European Union minister from Germany, minced no words by saying that BRICS is establishing itself on matters of global importance. He stressed that all differences between the 11 member nations would be ironed out over time and that they would remain united. He warned that China’s influence will grow across all financial sectors, posing a significant challenge to the EU.
Europe is getting all the disadvantage of supporting US's sanctions in the long conflict of Russia/Ukraine, US containment of China, and the expansion of the economics of the BRICS. Just a thought.
Destroy..
In a sharp escalation over the migrant crisis, Mayor Eric Adams claimed in stark terms that New York City was being destroyed by an influx of 110,000 asylum seekers from the southern border and said that he did not see a way to fix the issue.
“Let me tell you something New Yorkers, never in my life have I had a problem that I did not see an ending to — I don’t see an ending to this,” the mayor said in his opening remarks at a town hall-style gathering in Manhattan. “This issue will destroy New York City.”
Last..
Wednesday, September 13, 2023
The Split..
President Joe Biden failed at a weekend summit in India to unite world leaders around a condemnation of Russia's war in Ukraine, drawing a rebuke from Kyiv and putting him on the defensive as he wrapped up a trip abroad.
Neither Russian President Vladimir Putin nor Chinese President Xi Jinping attended the New Delhi gathering for leaders of the world's most powerful economies, but even in their absence, Russia and China notched a win against the U.S. when it came to rallying the international community against the war that began more than a year and a half ago.
After the New Delhi summit, Biden traveled to Hanoi in a visit aimed at strengthening ties with Vietnam.
So the G20 are looking forward to economics rather than ...war and containment.
Just a thought.
Tuesday, September 12, 2023
Hawarewedo..
When the US imposed a severe embargo to cut off the supply of high-end chips to Huawei in 2020, many foresaw it being a counterproductive move by Washington. Yes, it might stifle the technological prowess of Huawei, but more than that, it would push the Chinese telecommunications giant to develop its chips more quickly.
Despite a slowdown, Huawei found a way to generate revenue outside its smartphone business over the years. It eventually proved to the world that obtaining US tech might be a ‘want’ for China, but certainly was not a ‘need’ for the superpower.
That is perhaps why experts expect the breakthrough in developing a new 5G processor in mainland China not only to prompt another round of investigation by Washington, but also to intensify the US-China tech war. It could also spark more debate in the US about the effectiveness of sanctions, and the way we use it.