2015/10/07 - LEAP/E2020 Press Review on the Global Systemic Crisis. Libertad, Igualdad, Pluralidad.

China exits the Western-centred « international » system “If someone has offended you, don’t seek revenge. Sit on the river bank and you’ll soon see his body pass by.” 

 Westerners would be well advised to read Lao Tseu when developing their policy towards China. Thus, they would have avoided two major errors, which could be fatal for them, whilst China seems to have been sitting on the river bank for a short while…These two errors consist of two snubs which they have just inflicted on China in a single summer, causing it to lose face globally: first, with the IMF refusal to include the Yuan in its basket of currencies which make up the SDR , plus boning at the next step by a year – probably never; secondly, the Western refusal to answer invitations to participate in the Chinese Second World War commemorations. Does that remind you of anything ? The same attitude towards Moscow the 9 May this year…In reality, the West seems well and truly to want to apply the same strategy to China as that which, up to present, has had some effect on Russia: isolate the country... (GEAB Login or Subscribe)

Abstract GEAB No 97 / LEAP

Bank of China launches RMB clearing center in Budapest The ceremony was attended by Hungarian Prime Minister Viktor Orban, Bank of ChinaChairman Tian Guoli, Chinese Ambassador to Hungary Duan Jielong, Hungarian nationaleconomy minister Mihaly Varga and other dignitaries. Addressing the gathering, Tian pointed to the potential benefits of economic cooperationbetween China and Hungary. By setting up the clearing center Bank of China hopes to boosttrade with Hungary, he said. China Daily   IMF urges BOJ to stand ready to ease if inflation cools further The Bank of Japan should be ready to ease monetary policy further if needed to accelerate inflation towards its 2 percent target, preferably by buying government bonds with longer maturity, the International Monetary Fund said on Tuesday. Reuters   German president calls on US to win back lost trust It’s been nearly 20 years since a German president was received in the White House. Joachim Gauck, a dissident who organized opposition to the East German state, is calling on the US to practice the values it preaches... Deutsche Welle   Monsanto Earnings to Come in Bear Market Territory The agricultural products giant Monsanto (MON – Get Report) has suffered from the general malaise of a weak materials sector. The stock never recovered from the crash of 2008, even at its multiyear intraday high set in June 2014. The Street   EU Agriculture Still Suffering From Russia's Food Ban The European agricultural sector continues to struggle with economic losses due to Russia’s embargo on EU food imports introduced in 2014, President of the World Farmers Organization (WFO) told Sputnik on Saturday. Nguleka urged the European Union and Russia to agree on lifting mutual sanctions labeled "the bilateral diplomatic incident" at a high political level through negotiations... Sputnik News   China foreign exchange reserves fall $43.3 billion in September as central bank steps up yuan support China’s foreign exchange reserves shrank by $43.3 billion in September as the central bank stepped up intervention to stabilise the yuan and calm sentiment after a surprise devaluation of its currency had jolted global markets... Economic Times   Promise of Turning Pollution Into Cash Spurs Industry in Germany From cement and steel producers to the makers of plastics, European companies facing increasingly stringent limits onindustrial emissions are trying to come up with creative ways to transform the pollution they produce... Bloomberg   How Sanjiv Bajaj has created financial services supermarket If in 2006, the startup mania was as crazy as it is in 2015, Sanjiv Bajaj may have been the first port of call for many private equityand venture funds. That was a time when afinancial services conglomerate was being incubated in what was a one-trick pony —Bajaj AutoBSE 2.71 % Finance, which lent money to buy motorcycles manufactured by Bajaj... Economic Times   Data flows to US will continue despite EU court ruling The European Commission on Tuesday (6 October) said the transfer of data between the EU and US will continue in light of a European court judgment. Frans Timmermans, the EU commission vice president, said transatlantic data flows between companies will not stop... EUObserver   China’s Meituan Agrees to $15 Billion Dianping Merger Two Chinese startups separately backed by Alibaba Group Holding Ltd. and Tencent Holdings Ltd. have agreed to a merger that will create a $15 billion provider of local services like restaurant reviews and movie bookings, people with knowledge of the matter said... Bloomberg   Merkel, Hollande to respond to refugee influx The German and French leaders are set to address the European Parliament to pitch for European unity in face of the humanitarian challenge brought by migrants. Germany’s cabinet will convene to discuss Berlin’s role. Deutsche Welle   Britain urged to stop providing weapons to Saudi Arabia Britain is being urged to halt the supply of weapons to its ally Saudi Arabia in the light of evidence that civilians are being killed in Saudi-led attacks on rebel forces in Yemen. The Guardian   U.S.-Russia agreement on Syria might help on Ukraine-Finnish leader If Russia and the United States were able to agree on ways of solving the Syrian crisis, this might help towards the two powers finding common ground on Ukraine, Finnish President Sauli Niinisto said on Monday... Reuters   David Cameron vows to scrap requirement to build affordable homes for rent David Cameron will promise to sweep away planning rules that require property developers to build affordable homes for rent in a bid to increase the building of homes for first-time buyers... The Guardian

This special Press Review reviews articles from the French and Engligh-speaking international online media relating to the unfolding global crisis. It is delivered freely on a weekly basis to 60,000 recipients worldwide. Subscription / Contact: centre@europe2020.org