Global News
What is global news?
Something that happened or was uncovered recently anywhere in the world. It doesn't have to have global implications. Just has to be informative in some way.
Post guidelines
Title format
Post title should mirror the news source title.
URL format
Post URL should be the original link to the article (even if paywalled) and archived copies left in the body. It allows avoiding duplicate posts when cross-posting.
[Opinion] prefix
Opinion (op-ed) articles must use [Opinion] prefix before the title.
Country prefix
Country prefix can be added tothe title with a separator (|, :, etc.) where title is not clear enough from which country the news is coming from.
Rules
1. English only
Title and associated content has to be in English.
2. No social media posts
Avoid all social media posts. Try searching for a source that has a written article or transcription on the subject.
3. Respectful communication
All communication has to be respectful of differing opinions, viewpoints, and experiences.
4. Inclusivity
Everyone is welcome here regardless of age, body size, visible or invisible disability, ethnicity, sex characteristics, gender identity and expression, education, socio-economic status, nationality, personal appearance, race, caste, color, religion, or sexual identity and orientation.
5. Ad hominem attacks
Any kind of personal attacks are expressly forbidden. If you can't argue your position without attacking a person's character, you already lost the argument.
6. Off-topic tangents
Stay on topic. Keep it relevant.
7. Instance rules may apply
If something is not covered by community rules, but are against lemmy.zip instance rules, they will be enforced.
Companion communities
- [email protected] - International and local legal news.
- [email protected] - Technology, social media platforms, informational technologies and tech policy.
- [email protected] - Fascinating articles, captivating images, satisfying videos, interesting projects, stunning research and more.
- [email protected] - News and information about Europe.
Icon generated via LLM model | Banner attribution
If someone is interested in moderating this community, message @[email protected].
view the rest of the comments
Chinese currency took 53.6% of all Russian trade in May of this year.
Compare this with just 1% 2 and a half years ago in the beginning of 2022.
Russian financial system is already prepared for this scenario and absolutely no serious impact is expected to occur.
These events (sanctions and switch in trade) will simply accelerate transition of Russian economy away from dollar in the trade.
Russia and China already use each other’s currency to settle trade between each other. World manufacturing and world resource store are now exclusively connected and now fully control internal inflationary pressures.
EU and US are not able to control price inflation and are forced to guard their economies through additional tariffs. For example, recent introduction of tariffs on Chinese made electric cars demonstrates loss of competitiveness of western economies. Cars are complex products that require a lot of energy to produce. As a result they are a good subject to aggregate economic efficiency.
if this continues China and Russia may be able to dictate the rate of currency inflation in the non-dollar space (read BRICS future currency control).
dollars that used to work inside Russia-China trade space are continuing to get pushed out into the dollar space and causing upward inflationary pressure on the dollar. This forces US Fed to keep pumping freed up dollars from the dollar system through elevated interest rates to keep inflation down in the dollar space.
There are 1st signs of economic slowdown in US and fed is currently unable to react quickly due to the need to pump excess liquidity from the dollar system.
So, all this impact on the dollar for a questionable impact on Russia.