Putin Rejects Russian Economic Collapse Predictions — Highlights Active BRICS, SCO Cooperation

Russian President Vladimir Putin says Russia is actively cooperating with major international organizations, including the BRICS group, the Shanghai Cooperation Organization (SCO), the Association of Southeast Asian Nations (ASEAN), the Gulf Cooperation Council (GCC), and multilateral organizations in Latin America and Africa. Putin also rejected predictions about the “total collapse” of the Russian economy. Russia [...]

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Former UN Security Council President Kishore Mahbubani: ‘The American Century Is Over’

Kishore Mahbubani, the former president of the United Nations Security Council, stated China will dominate this century. Mahbubani declared that the so-called “containment policy” against China would fail, leaving the U.S. isolated from other nations due to its military approach to the “contest” between the countries. He also detailed that China, India, and ASEAN (the [...]

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ADB Launches Blockchain Project for Cross-Border Securities Transactions in APAC

Asian Development Bank (ADB) is going to initiate a blockchain-powered project to connect securities depositories and central banks in the APAC region. (Read More)

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Chinese Autonomous Region of Guanxi to Adopt Digital Yuan in Push for ASEAN Trade Integration

The Chinese autonomous region of Guanxi, located in the south of China, will implement a wide adoption plan for the digital yuan, that includes a push for using it as a trade currency with countries part of the ASEAN bloc. This pilot plan looks to be part of the experimentation to step up the usage

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10 Southeast Asian Nations Challenge Dollar Dominance With Push for Local Currencies

The leaders of 10 Southeast Asian nations, members of the Association of Southeast Asian Nations (ASEAN), have agreed to “encourage the use of local currencies for economic and financial transactions.” The group comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. This move will help them reduce their reliance on the U.S. [...]

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ASEAN Countries Take Steps to Reduce Reliance on US Dollar for Trade Settlements

The finance ministers and central bank governors of the Association of Southeast Asian Nations (ASEAN) are exploring ways to decrease their countries’ dependence on the U.S. dollar and promote the use of local currencies in trade settlements. “We must remember the sanctions imposed by the US on Russia,” said Indonesian President Joko Widodo. ASEAN Countries [...]

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India to Facilitate International Settlements in Rupees to Reduce Dependence on the US Dollar

The government of India has announced that it will facilitate the settlement of international transactions using its national currency, the rupee. As part of its foreign trading policy framework implemented on April 1, the country introduced this measure to facilitate payments for countries experiencing a U.S. dollar crush. India to Offer Rupee-Based Settlement Options for [...]

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