Time Ripe For Innovative China-Germany Partnership - By Luo Jun (14/10/14) PDF Print E-mail
Luo Jun   
Tuesday, 14 October 2014 07:04

Xinhua

BEIJING, -- Chinese Premier Li Keqiang's trip to Germany, the second time since he took office last year, will see the two countries navigate their partnership to a more innovative path.

Economic and trade cooperation between the two partners has expanded rapidly in recent years. Germany is now China's biggest European partner in trade, investment and technological cooperation, while China is Germany's largest trading partner in Asia. Bilateral trade exceeded 160 billion U.S. dollars last year.

The huge potential in economic cooperation is unlocked by frequent exchanges of high-level visits between Beijing and Berlin, which have deepened political mutual trust and injected sustained strong momentum into their partnership.

Germany will be the first country that Li has visited twice as Chinese premier. The trip comes after a state visit in March by Chinese President Xi Jinping and a tour of German Chancellor Angela Merkel to China four months later.



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Russian Oil Shift East Accelerates, Dictated By Politics - By Vladimir Soldatkin (14/10/14) PDF Print E-mail
Vladimir Soldatkin   
Tuesday, 14 October 2014 07:02

Reuters

MOSCOW - Russia is diverting more of its crude oil east with deliveries to China hitting a new record last month at the expense of Europe as geopolitical tensions between Moscow and the West dictate the latest shift in flows.

As Russia's relations with the West deteriorated over the Ukraine crisis, the European Union and United States imposed wide-ranging sanctions on Russian firms, including oil and gas producers, leaving Moscow trying to forge closer ties with energy-hungry China.

Russia's energy ministry says crude oil supplies to China surged in January-September by almost 45 percent year-on-year, to 16.8 million tonnes (450,000 barrels per day), while shipments from the Baltic Sea port of Primorsk plunged almost 20 percent to 33 million tonnes.

Oil product exports to Europe have been rising and plans for state-owned monopoly Transneft to use crude oil pipelines for exports of diesel show the trend will likely continue.



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Russia Dumping Dollars To Use To Protect Currency And Falling Oil Prices - By The Examiner (14/10/14) PDF Print E-mail
The Examiner   
Tuesday, 14 October 2014 07:00

As the United States expands its proxy war against Russia and the BRICS nations through a newly discovered secret deal with Saudi Arabia to force down global oil prices, Russia is firing back to this monetary attack against their currency and economy. On Oct. 10, a new report on Russian currency outflows shows that during the third quarter ending in September, the Eurasian state paid off a near record $53 billion in foreign debt, and sold off dollars to use as capital to stabilize their declining currency, and to protect their primary resource industry from the deflation America has caused through the dumping of excess oil into the market supply.

Some of this money was used earlier this week to support the declining Rouble as President Putin authorized the transfer of over $2 billion to be used directly to support the Russian currency. Additionally, the Russian central bank has already authorized funds to be set aside to supplement Russian corporations and oil industries should the need arise for liquidity and capital.



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Russia And China's Move To Abandon Dollar Receives Blowback From SWIFT - By The Examiner (14/10/14) PDF Print E-mail
The Examiner   
Tuesday, 14 October 2014 06:58

Although SWIFT is considered to be a European based conduit for global financial transactions between currencies, nearly everyone in the industry knows that it is a U.S. dominated system tied to America's control over the reserve currency. And as the U.S. continues to attack Russia and her allies with financial war, including sanctions restricting their access to the SWIFT system, on Oct. 6 the global center that facilitates currency exchanges for dollars responded to these attacks by publicly announcing they are not in favor of being used to accommodate disruptions to the free flow of currencies between any nation, and that they are not to blame for America's use of SWIFT to wage economic warfare against another country.

SWIFT is the primary global system that countries use to exchange their own currencies for U.S. dollars in order to purchase oil and other commodities on the global market. Created in 1973 in the exact year America forged the petro-dollar agreement with Saudi Arabia to force all oil transactions to be denominated in dollars, this financial system has assured the U.S. control over the global reserve currency for more than 40 years.

And with Russia and China already in talks to create an alternative SWIFT system it appears that the writing is on the wall for the European based institution and they do not wish to go down without a fight.



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Bankocalypse Drill: US And UK To Run ‘Too Big To Fail’ Collapse Simulation - By RT (13/10/14) PDF Print E-mail
RT   
Monday, 13 October 2014 07:22

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