Worldwide adoption of China's currency, the renminbi (RMB), is gaining steam as the de-dollarization push takes hold across the non-G7 countries.

Two macro factors are accelerating the growth of the RMB in place of the US dollar as the preferred currency for trading and settlements. The economic sanctions against Russia, which froze and then seized billions of dollars of Russian USD reserves held in custody in Western banks, are forcing countries and companies to de-risk by moving their reserves from SWIFT-associated financial institutions. Another crucial factor is the high US interest rates, which are sucking in hundreds of billions of dollars from global accounts to feed huge and growing fiscal deficits.

High US government borrowing causes USD to be drained from the global system. Ironically, this causes USD to gain in value outside the US, while feeding inflation and reducing the dollar's strength inside the country.

Simply by moving its USD and Euro reserves from US and European banks to Chinese-based institutions, Chinese banks enjoy the best of all worlds: they receive billions of USD and Euro every day through trading surpluses, and can then lend those foreign currencies and create assets and economic activity on their own balance sheets. Analysis of Chinese banking and lending data confirm explosive growth in Chinese lending abroad, in both RMB and USD.

Resources and links:

Inside China Business, China isn't dumping dollars. They're dumping banks, and setting up a new financial system.
https://www.youtube.com/watch?v=DnzuR-kog-w

National Debt of the United States
https://en.wikipedia.org/wiki/....National_debt_of_the

SCMP, Global use of China’s yuan up sharply, beating pound and yen on internationalisation index
https://www.scmp.com/economy/e....conomic-indicators/a

The renminbi overtakes the euro as a trade settlement currency as its use in global trade finance accelerates
https://asiahouse.org/research...._posts/the-renminbi-

Bloomberg, The Yuan Is Finally Showing Some Muscle in International Trade
https://www.bloomberg.com/opin....ion/articles/2023-12

Third time lucky? China’s push to internationalise the renminbi
tps://www.bruegel.org/policy-brief/t....hird-time-lucky-chin

Closing scene, Guilin, Guangxi province

In this thought-provoking video, we explore the shocking truth about the West's relationship with Africa. For over 800 years, the West has maintained a ruthlessly extractive economic relationship with Africa, exploiting its natural resources and human capital to fuel its own growth and prosperity. From chattel slavery to neocolonialism, the West has consistently prioritized its own interests over the well-being of African nations and peoples.

We examine how this centuries-long pattern of exploitation has enabled the West to impersonate a superior civilization, and how it has maintained its grip on power despite the rise of new global players like BRICS. We also look at the ways in which the West has worked to undermine African independence and sovereignty, from regime change to economic manipulation.

But there is hope for change. As global power dynamics shift and new options emerge, African nations have the opportunity to break free from the West's stranglehold and forge their own paths to development and prosperity. Will they seize this moment, or will they continue to be held back by the West's neocolonial grip?

Watch to learn more about the West's 800-year-old secret and the future of Africa in a rapidly changing world.

#africanliberation #decolonization #africa

Despite political rhetoric to the contrary, the United States and China have enjoyed the most mutually successful economic partnership in modern history.

The Group of Seven (G7) nations include the US, Canada, the UK, Japan, Germany, France, and Italy. As emerging market economies, and especially China, have boomed, the G7's share of global GDP has dramatically fallen.

But a closer examination of the underlying economic data shows that the United States' share of global GDP has risen, especially since 2010. The US is the only G7 country to take a larger share of global GDP while China's economy rocketed higher.

Resources and links:

Skipping class: Chinese students are looking beyond the US
https://www.chartr.co/stories/....2022-08-12-2-chinese

Wall Street Journal, U.S.-China Investment Flows Bigger Than Thought
https://www.wsj.com/articles/BL-CJB-29645

For wealthy Chinese students, studying abroad becomes the norm
https://list.juwai.com/news/20....12/05/infographic-fo

EGS Biweekly Global Business Newsletter Issue 109, Tuesday, May 28, 2024
https://geowizard.biz/2024/05/....egs-biweekly-global-

Statista, The countries with the most countries studying abroad
https://www.statista.com/chart..../3624/the-countries-

Zerohedge, Visualizing The G7's Declining Share Of Global GDP
https://www.zerohedge.com/geop....olitical/visualizing

China’s universities just grabbed 6 of the top 10 spots in one worldwide science ranking – without changing a thing
https://theconversation.com/ch....inas-universities-ju

Closing scene, Peking Duck from the award-winning Grand Hyatt Beijing
https://www.youtube.com/watch?v=Gc2AvoXVCz4

The Leiden University Center for Science and Technology Studies CWTS group has new university rankings that add open-data sources to the traditional list of top journals, which were previously the standard.

Common university ranking systems carefully consider research reputation and scholarship, including real-world impact and application. But tens of thousands of scientific and engineering journals are omitted by Western university ranking systems, especially those not written in the English language.

Simply by including the journals in the OpenAlex databases, Chinese universities vault to the top of global rankings for research universities, snagging six of the top nine spots, and ten of the top 20.

Resources and links:

Forbes, China Used More Concrete In 3 Years Than The U.S. Used In The Entire 20th Century [Infographic]
https://www.forbes.com/sites/n....iallmccarthy/2014/12

Nature, Modernizing cement manufacturing in China leads to substantial environmental gains
https://www.nature.com/articles/s43247-022-00579-3

Graphic, China HSR network since 2008
https://www.reddit.com/r/Urban....ism/comments/1ceda02

CNN, High speed trains are racing across the world. But not in America
https://www.cnn.com/travel/art....icle/high-speed-rail

Sample English-language abstracts of Chinese scholarship in high-speed rail:
Nature, High-speed rail new towns and their impacts on urban sustainable development: a spatial analysis based on satellite remote sensing data
https://www.nature.com/articles/s41599-024-03337-2

Nature, The impacts of high-speed railway on environmental sustainability: quasi-experimental evidence from China
https://www.nature.com/articles/s41599-023-02135-6

Nature, The impact of high-speed rail on SO2 emissions—based on spatial difference-in-differences analysis
https://www.nature.com/articles/s41598-023-49853-0

High-Speed Rail and Energy Productivity: Evidence from China
https://journals.sagepub.com/d....oi/10.5547/01956574.

Nature, How does the opening of high-speed rail drive energy restructuring? New micro evidence from China
https://www.nature.com/articles/s41599-024-02622-4

Forbes, A Look Inside Shenzhen's High-Tech Empire
https://www.forbes.com/sites/w....adeshepard/2016/07/1

China’s universities just grabbed 6 of the top 10 spots in one worldwide science ranking – without changing a thing
https://theconversation.com/ch....inas-universities-ju

Methodologies for CWTS Leiden Global University Rankings:
https://open.leidenranking.com..../#:~:text=The%20Leid
and https://www.universiteitleiden.....nl/en/news/2024/01/

Leiden Rankings for 2024
https://www.leidenranking.com/

Closing scene, Hong Kong

Fusion power is the "Holy Grail" of energy, and the first country to successful deploy fusion power at scale will upend the economic order of the world.

In under two decades, China's nuclear power industry went from functionally zero, to at least fifteen years ahead of the United States in most metrics. China now leads the global field in research, and in the number and types of reactors currently under construction. China's supply chain dominance also ensures that virtually all the components and parts are domestically sourced.

Last month, a Shanghai company announced a successful test of their newest fusion reactor, and created plasma for the first time. Their reactor is much smaller than Western types, and can be built in under 4 years, instead of 30, and for just 5% of the cost of European or American designs.

China's national plans call for rollouts of fusion reactor prototypes by 2035, and economy-wide installations by 2050. If China meets these targets, while the United States and Europe are still racing to catch up, the industrial and economic advantages to China may be irreversible and permanent.

Resources and links:

Power Technology, The US is 15 years behind China in nuclear power - report
https://www.power-technology.c....om/news/the-us-is-15

How Innovative Is China in Nuclear Power?
https://itif.org/publications/....2024/06/17/how-innov

SCMP, How China’s huge industrial supply chain may lead to ‘artificial sun’ via nuclear fusion
https://www.scmp.com/news/chin....a/science/article/32

Company website, Energy Singularity
https://www.energysingularity.cn/en/technology/

China’s Energy Singularity produces first net energy positive fusion reaction
https://www.intellinews.com/ch....ina-s-energy-singula

Oil Price, China Has Just Gained First-Mover Advantage In Nuclear Fusion
https://oilprice.com/Alternati....ve-Energy/Nuclear-Po

Investopedia, First Mover Advantage
https://www.investopedia.com/t....erms/f/firstmover.as

Closing scene, The Bund, Shanghai

China has brought over 700 million people out of poverty through economic development. But over 100 million people remained intractably poor, trapped in poverty due to isolation, low education, and infirmities. After gathering and organizing materials for half a year, the American-Chinese co-production team of "China's Poverty Alleviation at the Grassroots" immersed themselves into the local lives of China's rural poor in remote mountainous areas. With "targeted poverty alleviation" being the main topic, five simple but touching stories personalize the process and depict the measures of combating poverty.

Subscribe to us on YouTube: https://goo.gl/lP12gADownload our APP on Apple Store (iOS): https://itunes.apple.com/us/app/cctvnews-app/id922456579?l=zh&ls=1&mt=8Download our APP on Google Play (Android): https://play.google.com/store/....apps/details?id=com.

In Chapter 2 of Walter Rodney's seminal work, "How Europe Underdeveloped Africa," Rodney meticulously outlines the deliberate mechanisms and structures established by European powers to facilitate their own development at the direct expense of Nsi ya Ubuntu (Africa). He argues that colonialism was not a passive process but an active exploitation where European nations systematically dismantled Nsi ya Ubuntu's economic and social structures. This exploitation involved the extraction of resources, the imposition of cash crop economies, and the disruption of indigenous industries and trade networks, all designed to enrich Europe while creating a dependency and underdevelopment in Nsi ya Ubuntu. Rodney emphasizes that these actions were intentional, illustrating a clear and direct correlation between Europe's advancement and Nsi ya Ubuntu's impoverishment.

#walterrodney #heua #africa #african #economicexploitation #neocolonialism #colonialism #africandebt #capitalism

How the World Bank, IMF and corporations control Africa's natural resources

An Economic Hit Man Confesses and Calls to Action | John Perkins
“Debt is a cleverly managed reconquest of Africa” – Thomas Sankara
Credit: Ted Talks
#unitedstatesofafrica