Economy & Trade

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  March 31, 2023 by Silk Road Briefing
  

  BRICS Looking At Basing Financial Reserves On A Basket Of Their Own Currencies

  Move will see US$162 billion of annual intra-BRICS trade settled in each other’s currencies as US dollar and Euro are dropped from use. The BRICS countries are working on establishing a new reserve currency to better serve their economic interests, Pavel Knyazev, the Russian ambassador to the BRICS, part of Russia’s Foreign Ministry has stated[…..]
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  March 31, 2023 by Silk Road Briefing
  

  Brazil & China Sign Agreement To Drop US Dollar And Use RMB Yuan – Real In Bilateral Trade

  US$150 billion in annual trade will now be settled in respective currencies Beijing and Brazil have signed an agreement on trade in mutual currencies, abandoning the US dollar as an intermediary, and are also planning to expand cooperation on food and minerals. The agreement will enable the two BRICS members to conduct their massive trade[…..]
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  March 30, 2023 by Silk Road Briefing
  

  The Relocation Of Western Companies In Russia To Kazakhstan

  Case studies and local Kazakh issues to be aware of      More than a year has passed since the beginning of the Ukraine conflict and the imposition of anti-Russian sanctions. But what many predicted, even anticipated – that Western companies would rush to Kazakhstan instead – did not happen. A year on, less than 100[…..]
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  March 29, 2023 by Silk Road Briefing
  

  Asian Concerns Over Looming Secondary Sanctions For Supplying Russia Raw Cotton

  An academic conflict is developing about which is the more globally important: Ukraine, or Asia. Central and South Asian countries are becoming concerned about sheer volume of sanctions the United States is placing on Russia as this is impacting their own manufacturing. One of the issues now appearing on the horizon is raw cotton, a significant[…..]
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  March 28, 2023 by Silk Road Briefing
  

  Iran Extending Its National Rail Network To Capitalize On The INSTC

  Iran plans to complete the construction of approximately 400 km of railway lines in the country for the current Iranian year (March 21, 2023 through March 19, 2024), according to Abbas Khatibi, the Deputy Director of the Construction and Development of Transportation Infrastructures Company (CDTIC).
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  March 27, 2023 by Silk Road Briefing
  

  Turkmenistan’s Opportunities and Challenges from China’s Belt & Road Initiative

  The BRI is opening up Turkmenistan to China and other important markets in Central Asia and the Middle East By Farzad Ramezani Bonesh  Turkmenistan lies off the east coast of the Caspian Sea. Since its independence from the Soviet Union, it has adhered to the policy of “positive neutrality”. China and Turkmenistan established diplomatic relations[…..]
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  March 27, 2023 by Silk Road Briefing
  

  The BRICS Has Overtaken The G7 In Global GDP

  By Chris Devonshire-Ellis The India-based Megh Updates platform, one of the world’s largest online informational platforms in terms of views, has stated that BRICS countries have officially overtaken G7 in share of world PPP GDP, and that this trend can be expected to continue. The BRICS currently include Brazil, Russia, India, China and South Africa,[…..]
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  March 23, 2023 by Silk Road Briefing
  

  Egypt Becomes A Member Of The BRICS New Development Bank

  Joins the original five members plus Bangladesh and UAE in acquiring a position within the BRICS bank equity In a sure-fire move that can be expected to usher in Egypt as a full member of the BRICS grouping, Cairo has taken an equity position within the New Development Bank (NDB). Previous equity was divided equally[…..]
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  March 22, 2023 by Silk Road Briefing
  

  Uzbekistan Wants China Relations To Progress From Trade To Investment

  Since the implementation of Uzbekistan’s new economic policy last year, the country’s economic cooperation with external powers, including Russia, China, and the countries of the European Union has deepened considerably, with the Chinese presence in Uzbekistan deemed significant. In this article we aim to analyze economic cooperation between Uzbekistan and China in terms of trade,[…..]
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  March 22, 2023 by Silk Road Briefing
  

  Chris Devonshire-Ellis Discusses China’s Belt & Road In The Russian Context & Xi Jinping’s Visit To Moscow With CGTN

  Chris Devonshire-Ellis was interviewed live on CGTN’s ‘Global Business’ Programme yesterday (March 21) concerning Chinese President Xi Jinping’s visit to Moscow to discuss overall trade developments and the Ukraine situation with Russian President Putin.