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...

After a general election in Pakistan, Imran Khan is set to take charge as a Prime Minister. This is a historic political transition in Pakistan. At the same time, Pakistan is at the edge on the economic front and bailout package is under consideration in IMF. But, the US is opposing this kind of aid. This is all about a competition between the US and China to maintain influence over Pakistani Economy. For India, not only political happenings in Pakistan are important, but its economic situation should have the same importance. ….   In Pakistan’s general election, Imran Khan’s Pakistan Tehrik-e-Insaf (PTI) emerged as a single largest party and it is just a few numbers away from the magic figure. So, Imran Khan would be the next PM of Pakistan and oath ceremony is the only formality remains. So, there is a lot of discussion about Imran Khan, his views about India, his relation with the army and how the army helped him etc. It is quite obvious. But, one more t...