Tag Archives: economic development

Does China’s Friendship With Russia Really Have ‘No Limits’? | OilPrice.com

https://oilprice.com/Energy/Crude-Oil/Does-Chinas-Friendship-With-Russia-Really-Have-No-Limits.html

As this article shared in the link states , China is in a precarious ( careful ) position to remain neutral during Russian and pro-west Ukraine ( that is supported by European nations and USA economically and military-wise). Despite the fact that China looks towards a multipolar world coordinating with Russia , China has among one of its best interest to please its the European Union and USA who remain a huge market for Chinese exported goods and services worldwide in comparison to the Russian market .

Although China can still import oil and gas in a legal way making a way around western economic sanctions against the Russian Putin regime , China still has to coordinate with the European Union and USA as they have are very large importers or customers buying Chinese goods . China can not exceed certain limits concerning its political and economic ties with Russia .The west is proposing to get energy supply to substitute Russian fossil fuels with alternatives be it fossil fuels , green hydrogen , renewables, biofuels or whatever they can .In that manner , China is doing what it can to stay neutral and have a healthy balance its stance between its relation with The western world versus Russia …The western world has great economic power and technological innovations that are influential and large with all respect and love to all countries and nations , both developed and developing ones .

Note : I am from Lebanon and I know that Russia has great economic , technological and military power but generally speaking Russia is still a rising power that has less economic , technological and financial power than the Western liberal world with all its allies in relative comparisons. Many Russian scientists do leave Russia ( that has an autocratic regime ) to other countries where they are paid much more in other European nations , Australia and North America enjoying more liberties there .

Advertisement

Great Economy of USA

The United States of America has the largest size of economy in the world. The US real GDP* (Gross Domestic Product after taking inflation into account) in the second quarter of 2014 has become approximately 16,000 billion dollars, which is around one fifth of the world economy. The economic growth was 4.2 % in second quarter of 2014 that was higher than many developed countries. Meanwhile, the US Dollar “$” is the most widely used currency in international transactions and world trade as a reference and a means of exchange nowadays. Moreover, the US dollar constitutes 61% of the world reserve currency according to some statistics. The total national wealth of USA in 2008 was $ 118 trillion (including $ 57 trillion or $ 57,000 billion household net worth). In 2009, 30 % of the entire world’s millionaires were residing in US. In 2011, 34 % of the world billionaires were American. All of the mentioned facts and statistics above are an indication that USA is one of the wealthiest nations on earth.
Continue reading Great Economy of USA