Chinese yuan: Renminbi officially added to the IMFs Special Drawing Rights currency bas... - 1 views
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Starting today, the yuan is officially a member of the International Monetary Fund’s basket of global reserve currencies.
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this group of currencies, known as Special Drawing Rights (SDR), forms a kind of pseudo-currency—used only by the IMF—to supplement countries’ official reserves. The value of the SDR is determined by the set of currencies in the basket, each of which is given a weighting toward the final calculation
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The change will not lead to a precipitous rise in demand for yuan because the total value of SDRs used as reserves pales in comparison to that of dollars.
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Vladimir Putin's Outlaw State - 1 views
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President Vladimir Putin is fast turning Russia into an outlaw nation. As one of five permanent members of the United Nations Security Council, his country shares a special responsibility to uphold international law. Yet, his behavior in Ukraine and Syria violates not only the rules intended to promote peace instead of conflict, but also common human decency.
More Wealth, More Jobs, but Not for Everyone: What Fuels the Backlash on Trade - The Ne... - 1 views
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“More global trade is a good thing if we get a piece of the cake,” Mr. Duijzers said. “But that’s the problem. We’re not getting our piece of the cake.”
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For generations, libraries full of economics textbooks have rightly promised that global trade expands national wealth by lowering the price of goods, lifting wages and amplifying growth. The powers that emerged victorious from World War II championed globalization as the antidote to future conflicts. From Asia to Europe to North America, governments of every ideological persuasion have focused on trade as their guiding economic force. Advertisement Continue reading the main story But trade comes with no assurances that the spoils will be shared equitably. Across much of the industrialized world, an outsize share of the winnings have been harvested by people with advanced degrees, stock options and the need for accountants. Ordinary laborers have borne the costs, suffering joblessness and deepening economic anxiety
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When millions of workers lost paychecks to foreign competition, they lacked government supports to cushion the blow. As a result, seething anger is upending politics from Europe to North America.
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Obama's Syria Strategy Is the Definition of Insanity | Foreign Policy - 1 views
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The Russian government, much less the Assad regime, has never been a reliable partner for peace in Syria. But even after Russia’s alleged bombing of the aid convoy, U.S. President Barack Obama’s administration is still plowing its energies into a deal that aims to work with the Russian government.
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The Obama administration has viewed the Syrian crisis through the lens of counterterrorism. But diplomatic failures such as this one continue to embolden extremist actors like al Qaeda, which has purposely presented itself as a reliable and necessary opposition ally, seemingly dedicated only to the cause of ridding Syria of the Assad regime. By so deeply embedding within Syrian revolutionary dynamics and claiming to fill the vacuum left behind by insufficient foreign support or protection, al Qaeda’s narrative is constantly strengthened by perceptions of American inadequacy. Thus, U.S. failures do not exist in a vacuum — our adversaries quickly translate them into their own victories.
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the Russian government is not the key to controlling the Assad regime’s heinous behaviors. For a week straight, the Syrian government consistently ignored Moscow’s demands and destroyed a cease-fire deal that had been largely of Russia’s making. The regime also reinforced its troop positions around Aleppo and amassed forces opposite the strategic northern town of Jisr al-Shughour, and its aircraft were blamed for bombings around Aleppo, north of the city of Homs, and in parts of southern Daraa governorate. And after the Assad government declared the cease-fire over, Russia ferociously destroyed an aid convoy intended for 78,000 civilians
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A Big Blast in North Korea, and Big Questions on U.S. Policy - The New York Times - 2 views
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In both South Korea and Japan, a small but increasingly vocal minority has begun to advocate developing nuclear weapons to counter the North instead of relying on the United States.
10 new wars that could be unleashed as a result of the one against ISIS - The Washingto... - 3 views
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the U.S. strategy for defeating the Islamic State relies on a variety of regional allies and local armed groups who are often bitterly at odds. Though all of them regard the Islamic State as an enemy, most of them regard one another as enemies, too. As they conquer territory from the militants, they are staking out claims to the captured lands in ways that risk bringing them into conflict with others who are also seizing territory. New wars are brewing, for control of the post-Islamic State order.
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WAR NO. 1: U.S.-backed Syrian Kurdish forces and Turkish-backed Arab forces This is one of the wars that have already started, and it is also one of the more complicated ones.
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when Turkey intervened in Syria two weeks ago to help Syrian rebels capture Islamic State territory, it was clear that the Kurds were as much of a target as the Islamic State
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