Madhuban

A few days back, External Affair Minister Sushma Swaraj and a UAE official signed a currency swap Agreement. It means, henceforward both countries will do their trade through their own currencies. This is a global trend to replace US Dollar (USD) by other currencies. The USA has been using USD like a weapon, so it’s a quite global reaction and challenge to US hegemony.  …. External Affair Minister Sushma Swaraj visited UAE, last week. She and Juma Mohammad Al Kais, assistant undersecretary for foreign trade affairs in the UAE’s Ministry of Economy has signed a currency swap agreement. It means, henceforward, both countries can do their trade through their own currencies, either Indian Rupee or UAE’s Dirham. It is an example of a trend to give an option to avoid USD. The USA has hegemony on the global economy and it has been using USD as a weapon, since last 70 years. So, there is an obvious reaction against this US attitude, even in Europe there is a trend to replace USD...

Last week, in the South China Sea a Chinese destroyer challenged USS destroyer and there was nearly a collision. This was not a new thing in US-China in the South China Sea. China has considerable military strength in the region and now, it is challenging the US. The probability of war in the region may be little, but both countries deterring each other and trying to increase their influence. ... ‘China is now capable of controlling the South China Sea in all scenarios short of war with the United States…’ it was a statement of Admiral Davidson, who currently leads the US Indo-Pacific command. He was speaking in front of the Senate Armed Services Committee. Before the dust come down, South China Sea witnessed one more tens event. Chinese destroyer challenged USS destroyer and it almost hit. This ship passed by only 41 meters from US Ship. This is not a new thing in the South China Sea. But, thanks to the Trade War, the tension between the US and China is at peak and there...