Asia

The surprising victory of Javier Milei, the unconventional ‘anarcho-capitalist’ candidate, in the August primaries ahead of Argentina’s October 2023 general election, can be largely credited to his commitment to dollarize the Argentine economy, a move perceived as the ultimate solution to bring an end to the nation's economic turmoil. The potential shift from the local currency to the dollar has sparked concerns about Argentina's bilateral currency swap line with China. This swap l ...

In recent years, Iran has witnessed high levels of societal unrest, which has roots extending deep into the country’s rich history. Anti-regime protests notably spurred by tragic events such as the death in custody of a young woman, Mahsa Amini, have exposed the dual nature of Iran—the resilience of its young people and the severe crackdown put in place by its regime. Mahsa Amini, a 22-year-old Kurdish-Iranian, was apprehended by Tehran's "morality police" on 13 September 2022, al ...

The G20, since its emergence in 1999, has played a crucial role in maneuvering the economy, envisaging a new global financial architecture, and steering clear of the roadblocks hindering economic development. Also known as a ‘multilateral economic caucus’, the G20 has served as a platform for both developed and emerging economies to engage in constructive dialogue. Having as a theme Vasudhaiva Kutumbakam or ‘One Earth— One Family—One Future’, India has assumed the leadership of the ...

Kim Ju-ae, supposed daughter of North Korean dictator Kim Jong-un, was introduced by her father for the first time to the world and 26.1 million citizens of the Democratic People’s Republic of Korea (DPRK) on November 19, 2022. Her first public appearance was unusual: at the launch of an intercontinental ballistic missile (ICBM) costing up to $10 million (Los Angeles Times, November 4, 2022). Unlike a DPRK spy satellite launched on May 30, 2023, which broke up in midair before reach ...

At the August 22-24 BRICS summit in Johannesburg, the leaders of Brazil, Russia, India, China and South Africa said they wanted to use more of their national currencies for cross-border payments, which are currently dominated by the U.S. dollar and other global convertible currencies. Like China and the other BRICS, several other countries have also sought to develop alternative external payment mechanisms. Pairs of countries have agreed to settle commercial and financial transactio ...

China is the largest developing country. Africa is the continent with the largest number of developing countries. The China-Africa economic relationship has developed rapidly over the last two decades. China has increased its investment in Africa over the last four decades. Flows surged from $75 million (2003) to $5 billion (2021). This has had both positive and negative impacts on Africa. Infrastructure improvement, job creation, and overall economic growth can be listed as positiv ...

This paper aims to investigate the impact of an inflation targeting framework adoption by the central bank, on the reduction of public debt ratios in emerging countries, through the potential discipline-enhancing effect of inflation targeting on the conduct of fiscal policy in general. The impact evaluation method used is the Propensity Score Matching (PSM), which allows the evaluation of the treatment effect of inflation targeting on fiscal discipline, in terms of public debt reduc ...