Foxconn’s Terry Gou appeared to rule out an independent bid to become Taiwan’s president as he promised to back his former rival for the main opposition party’s nomination https://t.co/Ft7LEP69Qi
BREAKING: KMT Chairman Eric Chu is determined to nominate New Taipei City Mayor Hou You-Yi to be the party's presidential candidate. It also seeks to make Foxconn Founder Terry Guo the Hou's right-hand man as the vice presidential nominee.https://t.co/jD90E3sX6L
Plan ahead if you rely on the KL sentral monorail transfer. Nu sentral is closed so it’s an annoying walk around all of nu sentral to transfer. Let this be a lesson to @anthonyloke@DBKL2u@MRTMalaysia to not rely on malls to connect public transport spaces in future plans. pic.twitter.com/PIGkwmINkl
New Zealand police said they were treating a hostel fire in the capital, Wellington, as arson and had opened a homicide inquiry. At least six people were killed in the blaze at the Loafers Lodge in the suburb of Newtown https://t.co/Ntt787ch7Epic.twitter.com/t1jPL1hdle
China's heavily managed yuan has dropped to multi-month lows and breached the closely watched 7-per-dollar level, and analysts who are predicting more weakness point to the U.S. Federal Reserve's policy as being the bigger driver than economic weakness at home. /1
— simonthong aka kitty poo (@KittyPo80176717) May 19, 2023
As doubts grow about the strength of its economic recovery, foreign money has left China's markets and the currency has fallen 4% against the dollar since late January. /3
— simonthong aka kitty poo (@KittyPo80176717) May 19, 2023
— simonthong aka kitty poo (@KittyPo80176717) May 17, 2023
GT Voice: De-dollarization inevitable as dollar steps down from altar
By Global Times Published: Apr 26, 2023 10:20 PM
What’s perhaps more surprising – and potentially worrying for Washington – is how expensive and scarce offshore US dollars are becoming. As the US Federal Reserve’s aggressive interest rate hikes hit global financial systems, an increasing amount of foreign capital flowed back to the US, leading to a global US dollar shortage. The US’ interest rate hikes and the resulting shortage of US dollars serve as another important factor driving more countries to push for a quicker pace of de-dollarization.
In March, the US Fed said it had joined with other countries’ central banks in a coordinated action to enhance the provision of liquidity through the standing US dollar swap line arrangements, Reuters reported. Releasing more liquidity may help mitigate the issue of US dollar shortage. The move, to some extent, reflects the anxieties of US political and economic elites to the current trend of de-dollarization. However, it should be pointed out that releasing liquidity won’t solve the fundamental problem and will have a limited impact on slowing down the de-dollarization pace, as long as the US continues to weaponize US dollar hegemony and adheres to its irresponsible monetary policy.
China-Russia relations are built on the basis of non-alliance, non-confrontation and non-targeting of third countries. It is not China or any other country, but the US itself that sets off the inevitable trend of de-dollarization, thanks to its hegemonic behaviors such as unilateral sanctions. What people fight against is not US dollar, but US dollar hegemony.
Facts have proven that the hegemony of US dollar can be broken. Amid global economic uncertainties, emerging economies should strengthen financial and currency cooperation, jointly tackling global challenges and maintaining financial stability.
