The Chinese currency is the 5th most-used currency in international payments, according to the SWIFT network responsible for international financial transactions. Breaking into the top 5 is symbolic to balance dollar-denominated payments.
The meeting between US President Obama and Indian Prime Minister Modi is a clear statement that India is finally shedding ambiguity from its foreign policy and making tough choices, a stance that’s putting Beijing on guard.
While top US diplomats have privately backed a weapons ban amid the bloody civil war in South Sudan, a new report indicated that US National Security Advisor Susan Rice is chiefly responsible for stalled attempts at an arms embargo in the oil-rich nation.
Chinese imports of oil from major OPEC countries fell last year, while the purchases of Russian oil saw a record increase, said the Chinese General Administration of Customs. It is part of Chinese plans to diversify its oil sources.
The reported theft by Chinese hackers of blueprints for the US’s F-35 Joint Strike Fighter amounted to 50 terabytes of classified information, documents leaked by NSA whistleblower Edward Snowden have revealed.
Following repeated complaints over the behavior of Chinese tourists abroad, authorities have decided to create a national database of unruly travelers. Those placed on the list may face problems when trying to book tickets or make reservations.