Africa

Pakistan is considering replacing the U.S. dollar with the Chinese yuan for bilateral trade between Pakistan and China, Pakistan's Minister for Planning and Development Ahsan Iqbal said according to Dawn Online and The Economic Times. Interior Minister Iqbal, who has been central to the planning and implementation of China-Pakistan economic ties, was reported discussing the proposal after unveiling a long-term economic development cooperation plan for the two countries, Reuters added.

Authored by Chris Hamilton via Econimica blog,

Many economists suggest China is on the cusp of significant growth in domestic consumer demand. 

That this rising domestic demand coupled with continued growth as the global exporter will push the global economy further.  However, I'll briefly show why neither of these outcomes is remotely likely.

Problem #1- China as Consumer:

Authored by Soeren Kern via The Gatestone Institute,

Under the guise of stopping violent crime, a County Commissioner in Cook County, Illinois, went to New York City late last week to request that the United Nations deploy foreign troops in Chicago to tackle the city’s “quiet genocide.”

Authored by Tsvetana Paraskova via OilPrice.com,

Three years after the oil price crash, the U.S. shale patch is on its second growth phase and is expected to continue to increase its production, at least through the next five years.

The global oil markets have become increasingly dependent on U.S. tight oil supply - and the oil industry is still coming to grips with this new reality, Simon Flowers, Chairman and Chief Analyst at Wood Mackenzie, wrote in a recent article.