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

What if I told you that one man's vision could transform an entire nation's agriculture? What if this transformation didn't just promise food security, but also symbolized a bold move toward real independence? Ibrahim Traoré, the young and dynamic leader of Burkina Faso, is making waves with his groundbreaking initiative to bring 2,000 tractors to revolutionize his country's agricultural sector. This isn’t just about machines—it’s about empowering rural communities, tackling food insecurity, and pushing Burkina Faso, along with the broader Sahel States, toward true independence from former colonial powers like France. Agriculture is the backbone of many African economies, and it’s time for countries like Burkina Faso to stop relying on outdated farming methods and foreign imports. Ibrahim Traoré’s tractor initiative is poised to change that, giving farmers the tools they need to increase productivity and reclaim control of their land and future. Stay with me as we dive deep into how this ambitious project is unfolding and why it could be a game-changer, not just for Burkina Faso, but for the whole of Africa. Burkina Faso’s agriculture, like much of sub-Saharan Africa, has long struggled under the weight of traditional farming practices, climate change, and a lack of resources. The country’s agricultural sector still relies heavily on manual labor, with farmers working with basic tools, outdated methods, and minimal technological support.

Despite high tariffs against Chinese-built products, the United States imported record volumes of manufactured goods from China in July.

Policymakers in the United States, along with governments in friendly countries and those in North America, expected that after years of high tariffs and sanctions, that supply chain managers would be moving supply chains out of China, and bring them home.

The opposite happened, and imports from China are not merely larger than ever, but are accelerating relative to countries most friendly to the United States.

Resources and links:

Descartes, July 2024 U.S. Container Imports Break 2.5M TEUs
https://www.descartes.com/reso....urces/knowledge-cent

US volumes break 2.5 million TEU mark in July; Imports from China set record high
https://container-news.com/us-....volumes-break-2-5-mi

Reform & Opening-up｜How was the world-class port of Qingdao made?
https://www.ourchinastory.com/en/11148/Reform&Opening-up

Top 20 North American ports
https://www.ajot.com/premium/a....jot-top-20-north-ame

Infographic, Top 10 busiest container ports in 2023
https://twitter.com/_ValiantPa....nda_/status/18182284

New Tariff Policy Amplifies the United States’ Efforts To Bolster Nearshoring Strategy
https://www.swlaw.com/publicat....ion/new-tariff-polic

Definitions and applications of Reshoring, Nearshoring, and Friendshoring
https://www.aatcc.org/aatccnews_2024_01a/

Closing scene, Qingdao Container Port, Shandong

The Imperial Age of West African History
Ancient Ghana
Wagadu

Africa, emancipate yourself.

I had the opportunity to speak at the Abibitumi Conference on the theme, Black Power: Vision to Reality.

Enjoy.

➡️ GET YOUR TICKETS NOWGroundings With My Brothers And Sisters | A Holistic Health Conferencehttps://www.eventbrite.com/e/g....roundings-with-my-br Sign Up Today To Join The 'I Never Knew Tv' Movement:https://ineverknewtv.com/sign-up/Enjoy 'Throw Forward' clip from ⁣Okunini Kwasi Konadu is a professor, healer, and author. In this clip Konadu speaks about why Europeans feared obeah and voodoo so much. ➡️Please support Dr. Kwasi Konadu and purchase his books at:https://kwasikonadu.info➡️ Tune into 'I NEVER KNEW 📻'🇲🇱Roots, Rock, Reggae Music🇲🇱Hosted By : Jr of 'I Never Knew Tv'https://www.WLOY.orgSunday 9 -11 AM ESTWednesday 8- 10 AM ESTThursday 10- Noon AM EST#voodoo #ineverknewtv ineverknewtv

Description: Scholars Dr. Julius Garvey and Robin Walker with Dr Joyce King, discuss dynamic methods and modulates to best take Black Education and Studies forward, at multiple levels, including the Academic and Community level. The importance of bridging the cultural language gaps between English, Francophile and Spain speaking worlds is keenly sited, as such cultural and intellectual ‘cross pollination’ often brings new insights and ideas to the fore that often wouldn’t be achieved otherwise. Dr Joyce King gives a beauty example of this, recanting when a Brazilian friend and academic on a tour of Egypt they both took together, discovered and observed that the historic place name where an iconic Ancient Temple was located, called ‘Dendera’ bore many similarities to the name of the Palmares Legend and wife of King Zumbi, the iconic Afro Brazilian freedom fighter called ‘Dandara’( the spelling is slightly different, but the pronunciation from the locals was reminiscent ). Something that someone with a different cultural background might not have picked up so easily. On another note, that example also beautifully alludes to the cultural continuity of African brilliance and resilience across time, space, the seven seas and continents across the globe.About the Podcast: In this Revolutionary Podcast series of conversations, the son of the late great Marcus Garvey, the venerable Dr Julius Garvey shares and explores deep thought ideas and concepts with Robin Walker ( The Black History Man ) about the relevance and need for Pan Africanist principles today. How we can utilise and apply them effectively to uplift the Black Diaspora worldwide to bring about the change we need in this modern day and age. In the Principle of ‘Sankofa’ ( Looking back and Remembering ) the African origins and contributions to History, Politics, cooperative Economics, Religion, Science and Technology and Philosophy are explored in depth to inform the listener about the immense achievements of the Black Diaspora as a collective, and to show how we can apply unique African thought concepts and philosophies to our own lives as individuals and communities and to continually progress and improve ourselves as a ‘People’ in the present and the future for the better. Support the Cause: While we feel the best way to support The Black Secret is to subscribe to us and learn the finest Black History & African Heritage course available online. You can also support our work by making donations through our PayPal link. Funds raised this way will help us to grow and develop more great free content for our YouTube and social media channels. https://www.paypal.com/paypalme/TheBlackSecret #africa #africanhistory #garvey #history #blackhistory #blackhistorymonth #robinwalker #juliusgarvey #education #pyschology #philosophy #africaget your copy of the Amazing Free E-book: 100 Black History Facts Here: https://www.theblacksecret.co.....uk/youtube-e-book-la If you haven't joined The Black Secret, consider signing up today at: The Black Secret is the finest Black History & African Heritage course online. https://www.theblacksecret.co.uk Get 20% Off first Month's subscription with Discount Code: GARVEYTV20 Subscribe to watch more Pan Africanism Today & Black Secret videos:

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