Madhuban

Israel and the United Arab Emirates have reached a historic agreement to start diplomatic relations, and there are signs of new changes in West Asia. At the same time, relations between Pakistan and Saudi Arabia have been strained. Thus, the boundaries between Saudi Arabia and the new Iran-Turkey equations against them are becoming clearer. ….   The first fortnight of August was marked by upheaval for West Asia, which are constantly on the brink of unrest and instability. It is equally important for India, too. The United Arab Emirates (UAE) has decided to open diplomatic relations with Israel, the number one enemy of West Asian countries. At the same time, Pakistan, which has been embroiled in controversy over the Kashmir issue, has signalled that it has given up on Saudi Arabia. Pakistan, which has been under Chinese rule for several years, has now adopted a policy of joining hands with Iran, Turkey and Malaysia. Thus, the division in West Asia, which began with the civil w...

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...