Since the end of World War II, the US dollar has been used to invoice most global trade, serving as the intermediary currency for clearing international payments among banks and dominating official foreign-exchange reserves. This arrangement has often been criticized, but is there any viable alternative?
Six hundred million is a staggering number. Yet, that's how many new jobs the world needs by 2020 just to keep up with its surging population. And about two-thirds of those jobs need to be created in Asia - that's some 25 million jobs a year.
Officials and economists alike seem to be sure that China's year-on-year growth will exceed 8 percent this year. While the existing data underpin such optimism, China faces both domestic and international challenges in maintaining stable growth.
What do Beijing residents expect of their new mayor? Of all the things that need improving, cleaner air will be at the top of many people's wish list.
Mali is already yesterday's news. In the United States at least, the focus has shifted from the French intervention in Mali to Algeria, where a hostage crisis ended with the reported death of 90 people, including 58 foreigners, earlier this month. Many multinational companies, including Shell, Rio Tinto and Huawei are recalibrating their involvement in African countries.
The recent high environmental pollution levels in Beijing and other Chinese cities should be seen as a great threat to children's health and quality of life. A large number of children die every year from environment-related diseases.
China's foreign trade was sluggish last year. Although it increased to $3.866 trillion, up 6.2 percent from 2011, this was significantly lower than the 10 percent annual growth goal set by the government. Exports reached $2.05 trillion, up 7.9 percent, and imports totaled $1.82 trillion, an increase of 4.3 percent. The trade surplus was $231.1 billion, expanding 49.2 percent.
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