Energy & Economy

22

Mar

COVID-19, IEA, Oil 2021, Oil markets

Oil markets face uncertain future

PEJOURNAL - World oil markets have rebounded from the massive demand shock triggered by Covid-19 but still face a high degree of uncertainty that is testing the industry as never before, according to a new IEA report.  The forecast for global oil demand has shifted lower, and demand could peak earlier than previously thought if a rising focus by governments on clean energy turns into stronger policies and behavioural changes induced by the pandemic become deeply rooted, according to Oil 2021, the IEA’s latest annual medium-term market report. But in the report’s base case, which reflects current policy settings, oil demand…

Read More

14

Mar

China, De-Dollarization, Dollar, Russia, trade, US dollar

Russia gradually ditching US dollar in trade with allies

PEJOURNAL - A senior Russia lawmaker says his country is gradually reducing the role of the US dollar in financial transactions with allies and commercial partners, a long-pursued measure aimed at using currencies other than the greenback to offset the impacts of American sanctions. Vyacheslav Volodin, the speaker of the Russian parliament's lower chamber, the State Duma, made the announcement on Thursday and said Russia was gradually reducing the share of the US dollar in the Russian economy and foreign exchange reserves. "For example, within the framework of the EAEU, settlements in national currencies have grown to 74%. We are…

Read More

05

Mar

Capitalism, Food, Insecurity

Capitalism and the Fabrication of Food Insecurity

BY: Tamseel Aqdas* PEJOURNAL - Human security can be depicted as the notion through which the widespread and cross-cutting challenges to the survival, livelihood and dignity of individuals can be identified and protected. In simpler words, folks are protected against threats and situations that deem to violate their vital human rights. Thus, with human security, the protection and empowerment of people is promoted. With that said, under the umbrella of human security, food security holds immense significance; as, it is responsible for sustaining human life and health. In addition to that, it also stipulates individuals on the required energy for…

Read More

05

Mar

China, Crisis, De-Dollarization, Dollar, Global Economy, Marshall Plan, Russia

De-Dollarization: Removing the Dollar, Strategies and Efforts

BY: Danieal Ranjbar PEJOURNAL - From the 1940s, during the post-World War II reconstruction of Europe under the Marshall Plan, the dollar became the dominant international currency. But now, after all these years and the occurrence of several internal developments in the United States and internationally, the dominance of the dollar is threatened. The introduction and gradual strengthening of digital currencies, including bitcoin, was another reason for the removal of the dollar from the financial exchanges of some countries. Russia and China, as the first countries to eliminate the dollar, succeeded in doing so and removing the dollar from their…

Read More

14

Feb

al-Omar, Dayr al-Zawr, oilfield, Syria, Syrian Democratic Forces, US military

US military brings equipment to base in Syria’s oilfield

PEJOURNAL - In a move to deepen its footprint in Syria, the US military has brought a number of trucks transporting logistic support, equipment and weapons to their base in al-Omar oilfield in Syria’s eastern province of Dayr al-Zawr, a report says. The trucks reached the base through illegal border crossings with Iraq to boost the illegal presence of US forces in al-Jazira region, Syria’s official SANA news agency on Sunday quoted sources as saying. Two US helicopters also landed on the Shaddadah base, SANA quoted local sources in Syria’s Hasakah province as saying. The helicopter took off a short period, transporting…

Read More

12

Feb

bitcoins, Digital currency, Dollar, dominance, Federal Reserve, stock market, Threat

Digital currency is a significant threat to the dominance of the stock market

BY:Alegandro PEJOURNAL - The dollar has been a global reserve currency for 100 years, but many people have been buying bitcoins since March, fearing that the US Federal Reserve-led central banks will devalue their currencies. Morgan Stanley, chief executive officer of Global Investment Management Strategy, is the author of Ten Laws of Successful Nations. When it spread, the US dollar was as strong as ever. Despite talk of faltering US supremacy, the dollar as an intermediary in international trade, another anchor for other countries to value their currencies, and the “reserve currency” of most central banks as the dominant savings.…

Read More

06

Feb

China, Dollar, Donald Trump, East Asia, Global Economy, Joe Biden, monetary, trade war, WTO

Weakened dollar, Stronger Administration

BY: Jacobien van der Kleij and Michael Robbins PEJOURNAL - One of the major events that characterized the early Trump presidency was the U.S. trade war with China. From a monetary perspective, the trade war with China was not beneficial to the U.S. dollar, and hitting China with such tariffs showed the U.S. that other countries can, and will, step in when needed.The actual “war” aspect is an editorialization, but the events were still meant to show the world that when two superpowers compete for better trade deals, there is never a clear winner. The rhetoric started on Trump’s campaign…

Read More

01

Feb

Farmers, GDP, India, mandi system, Modi, Revolt

Farmers’ Revolt in India

BY: Navomee Ponnamperuma PEJOURNAL - In the midst of a global pandemic, a social movement gone largely unnoticed in the Western media has been the farmers strike in India. Whilst exposure was provided in its early days, the movement lost much of its media appeal as the West turned their attention towards the chaotic political scenes occurring on both sides of the Atlantic. Indian farmers however have persisted in their fight. A fight which commenced in September following the Indian government’s decision to pass new regulations providing private investors access to the country’s agricultural sector. At first glance, the farmers’…

Read More

01

Feb

AstraZeneca, Brexit, Crisis, English Virus, inefficiency, The UK, unemployment

Rising unemployment and inefficiency crisis in The UK

The UK is experiencing conditions these days that have affected the rate of hope for the future among the people of this country. According to the UK Statistics Centre, the unemployment rate in the quarter ending November last year (2020) reached its highest level in nearly five years. During this period, about 1.720,000 people were unemployed, indicating that 418,000 people added to the number of unemployed (mainly the age group of 25 to 34) compared to the previous year, and according to tax data, the number of salaries last month was about 828,000 fewer than in February 2020. Although official…

Read More

29

Dec

2020, Challenges, China, Relations, the United States

The Challenges of China-U.S. Relations in 2020

PEJOURNAL - China-U.S. relations have been severely weakened in 2020 three years after a gradual decline in Donald Trump's administration. Beijing and Washington have accused each other of the coronavirus pandemic, entered an insane economic war, competed over Fuji networks and other technologies, and disputed human rights abuses in Hong Kong and Xinjiang (alongside other issues) President-elect Joe Biden must face these challenges from day one of his presidency, the Council on American Foreign Relations website wrote in a note. Experts from the Council on Foreign Relations (CFR) have reviewed major events affecting China-U.S. relations over the past year and…

Read More