Before Deng Xiaoping launched China’s reform and opening up, the People’s Republic was working to establish a self-sufficient economy. But after dec

Growing extreme partisanship in the U.S. has deadlocked the debt ceiling raising at a time when the U.S. Dollar is facing its greatest challenge as a global reserve currency. China has sought to increase cross-border transactions in the Chinese yuan and has signed more deals to achieve this with several countries. However, the yuan lacks global adoption of its currency and in alternative systems outside of countries that do significant direct business with China.

Brazil, South America’s leader in GDP, has made several moves indicating a willingness to work with China in the near future. The establishment of the BRICS, as well as President Lula’s recent visit to China, should alert the West as to how Brazil has been swayed by China and its offerings.

The country’s current slowdown in economic growth is a natural reflection of its development at an important moment. It has come to a point where efficiency and quality, rather than quantity, are what will really count in the long run.

American playwright and humorist George Ade coined the maxim, “the higher they fly, the harder they fall,” toward the end of the Gilded Age more tha

China no longer needs to move mountains or reclaim seas, as in ancient legend. Through technology, infrastructure, trade, finance, people and government policies such barriers have long since vanished. The BRI does, however, revive an essential ancient spirit.

The recent G7 summit in Hiroshima and the subsequent G20 tourism meeting in Kashmir underscored the stark contrast between the two groups’ rhetoric. While

China and Canada share a complex and strained relationship that have only worsened i n recent years. Despite increasing scrutiny of China, Canada’s government seeks to maintain economic ties in a manner consistent with Canadian values and interests.

Hiroshima highlighted the decline of Western influence in global economic governance. The group’s inherent inadequacy arises from the desperate effort by a small group of member nations to maintain their dominant position in the world.

Political posturing shifted from “How to avert a debt crisis” to “How to get tough on China.” The squabble also reflected misgivings about China’s growing influence, as countries move away from the U.S. dollar and toward the yuan as a settlement and reserve currency.