United States condemns killing of journalist during Israeli military raid

The United States government on Wednesday condemned the killing of a journalist during an Israeli military raid in the West Bank and called for an immediate and thorough investigation to determine who is accountable. 

State Department spokesperson Ned Price said the death of Shireen Abu Akleh represented “an affront to media freedom everywhere.”

White House Principal Deputy Press Secretary Karine Jean-Pierre echoed Price’s comments, telling reporters aboard Air Force One that the administration strongly condemns the killing of the journalist. Jean-Pierre did not say whether President Joe Biden planned to call Abu Akleh’s family.   

Abu Akleh was shot and killed while covering an Israeli military raid in Jenin, a city administered by the Palestinian Authority in the West Bank.

Israel has launched an investigation into Abu Akleh’s death and called for participation of the Palestinian Authority, which has refused. The Palestinian health ministry blamed the Israeli military for the journalist’s death.

Israeli Army Chief Lt. Gen. Aviv Kochavi said that the army could not yet determine whether Abu Akleh was hit by Israeli or Palestinian gunfire. The Associated Press reported, walking back an earlier statement from Israeli Prime Minister Naftali Bennett that the journalist’s death likely came from gunfire from armed Palestinians. 

The Israeli Defense Forces said it was conducting counter terrorism operations in the West Bank city when tens of Palestinian gunmen fired at and hurled explosive devices toward the soldiers and soldiers responded with gunfire. There were no injuries among Israeli forces, according to the Israeli Foreign Ministry.

Abu Akleh, 51, was a veteran Middle East journalist who reported for Al Jazeera’s Arabic language channel. She was reportedly shot in the head.

Al Jazeera reported that another one of their journalists, Ali al-Samoudi, was wounded by a bullet in the back at the scene and is in stable condition.

Al-Samoudi told Al Jazeera that there were no Palestinian fighters present when the journalists were shot. 

“We were going to film the Israeli army operation and suddenly they shot us without asking us to leave or stop filming,” al-Samoudi told the Qatari-based news outlet. 

“The first bullet hit me and the second bullet hit Shireen … there was no Palestinian military resistance at all at the scene.”

Abu Akleh’s death comes amid an escalation in Israeli counterterrorism operations in response to a series of attacks made by Palestinians, with at least 18 Israelis and 30 Palestinians killed in recent weeks.

 

Humiliating Russia will not bring peace, says French President

French President Emmanuel Macron has warned against humiliating Russia for its military offensive in Ukraine, if and when any peace deal is agreed upon.

Speaking to reporters in the French city of Strasbourg, Macron said, once the war ends, Moscow and Kyiv will eventually have to sit down and negotiate peace terms. Therefore, any further tensions will only serve to the detriment of the situation.

"We will have a peace to build tomorrow, let us never forget that," Macron said, "I mentioned this earlier. We will have to do this with Ukraine and Russia around the table. The end of the discussion and the negotiation will be set by Ukraine and Russia."

However, Macron says this will not be done in denial, or in exclusion of each other, nor even in humiliation.

In what may come as a blow to the government in Kyiv, Macron also said it would take decades for Ukraine to join the European Union. 

"I am saying this in all honesty; honesty that we owe to the Ukrainians," Macron said, "we can have an accelerated process... to accept candidate status for Ukraine but we know that given our standards and the criteria, it would probably take decades for Ukraine to really join the European Union."

Ukraine had been seeking a quick route to EU membership and Macron’s remarks will come as another setback for Kyiv, which has also been refused membership in NATO. 

The French leader laid out his vision of a broader club of European nations that would allow for deeper cooperation between non-EU countries.

Under this new wider political community, nations like Ukraine and even the United Kingdom could be included, Macron explained. 

The French President whose country currently holds the EU’s presidency said a new organization would try and achieve objectives beyond the scope of the EU.

"The European Union, given the level of its integration and ambition, cannot be in the short term the only means of structuring the European continent," he pointed out.

The initiative was immediately supported by German Chancellor Olaf Scholz, who was standing alongside the French President. 

Vladimir Medinsky, the Russian chief negotiator said that peace talks with Ukraine had not stopped and were being held remotely. 

Moscow has accused Kyiv of stalling the talks and using reports of atrocities committed by Russian troops in Ukraine to undermine the negotiations. Russia denies targeting civilians in what it calls its special military operation.

Asked when-in-person talks might be held with Ukrainian negotiators, Medinsky said, "We need more specifics on hand in order to meet in person."

Since March 29, Ukraine and Russia have not held face-to-face peace talks, but have been meeting via video conferences. 

Last month, Ukrainian President Volodymyr Zelensky warned that there was a risk the peace process could collapse.  

Russian President Vladimir Putin calls Moscow's actions a special military operation in the face of NATO's eastward expansion on Russian borders. Putin has also previously claimed the special military operation is designed to disarm Ukraine, defend Russian speakers from persecution and prevent the United States and its allies from using the country to threaten Russian security. 

Ukraine dismissed Moscow’s claims of persecution and denied any threat to Russia from Ukraine or Western countries.

Meanwhile, during his address at the Victory Day parade in Moscow’s Red Square to mark Russia’s victory over Germany in the Second World War, Putin said Russia’s military operation in Ukraine was a preemptive move against future aggression. 

Putin praised the achievement of the Soviet people during World War II and further addressed the Kremlin's reasons for the ongoing conflict between Moscow and Kyiv. 

Putin insisted Russia had to act because of a security threat in the eastern Donbass region and added “we saw the military infrastructure unfolding in Ukraine; hundreds of foreign advisers starting their work; there were regular deliveries of the most modern weapons from NATO countries. The danger grew every day,” the president explained.

“Russia gave a preemptive rebuff to aggression – this was a forced, timely, and the only right decision by a sovereign, strong and independent country,” he added, referring to the launch of the military operation.

“Despite all the disagreements in international relations, Russia has always advocated the creation of a system of equal and indivisible security,” Putin continued. 

The Russian leader highlighted Moscow’s attempts to engage in dialogue on security guarantees with Washington late last year, which the latter failed to address. 

Experts say providing those guarantees could have, in essence, prevented a war, had the White House responded to reassure Russia and address its security concerns. 

“NATO countries didn’t want to hear us, which means that, in fact, they harbored completely different plans, and we saw it,” Putin added. 

Meanwhile, US President Joe Biden has resurrected a World War II act to accelerate weapons shipments to Ukraine for its battle against Russian forces.

Weapons sent under this act are separate from the nearly US$4 billion in military aid that the US has already sent to Ukraine since the start of Russia’s military operation in February, and from the US$33 billion worth of military aid that the president recently asked Congress to approve.

He also signaled that he is ready to make a political concession in Congress to win quick approval of a request for another US$33 billion in funds to send more weapons to Ukraine.

Biden said he is ready to drop funding for the Covid-19 pandemic for Americans and just get the money for weapons to Ukraine through.

Some Democrats have expressed disappointment the COVID-19 aid would be considered separately.

Senior Senate Democrat Dick Durbin told reporters, "It would have been so much better for us to protect the United States as well as worked to protect Ukraine,"

Asked if separating Ukraine aid hurts prospects for COVID-19 aid, Durbin said, "It doesn't help. Putting those two together would have been positive."

The act, which passed Congress last month with 417-10 votes in the House and flew with flying colors in the Senate, suspends limitations on the number of weapons and other military supplies Biden can send to Ukraine or other Eastern European countries.

However, it does stipulate that Kyiv must subsequently pay for whatever it receives. Kyiv’s ability to later repay the US has been under the spotlight, considering Zelensky had recently asked the US and the EU for US$7 billion per month to keep the country’s economy afloat. 

Critics have accused the US and its NATO allies of prolonging the war and suffering of Ukrainians by sending weapons, instead of backing the peace process to end the war. 

Even the unprecedented sanctions imposed against Russia have been questioned as the measures have failed to end the conflict. 

Experts argue Washington triggered the war and is trying to ensure the fighting stays at an impasse in a bit to confront Russia’s rising economy and military strength as well as its growing ties with other EU nations.

Meanwhile, White House Press Secretary Jen Psaki told reporters that Biden was not happy with leaks to American news outlets in which US intelligence took credit for helping Ukraine target a Russian ship and Russian generals in Ukraine.

"The president was displeased with the leaks… and he did not feel they were constructive," she said.

The American news reports do not indicate how many Russian generals had been killed in Ukraine using the US intelligence to locate their whereabouts.

India trying to lure Bangladesh

According to an article by Abhinav Singh, India’s eastern neighbour, Bangladesh in clear words and through its firm actions has sent a message to both China and Pakistan that despite their best efforts to turn Dhaka against New Delhi, the Sheikh Hasina administration is standing ever so stronger with the Narendra Modi government.

With access to Chittagong port, Bangladesh and India put the final nail in the coffin of China’s ‘String of Pearls’

Reportedly, in what comes as a major development, India has now gained access to the crucial Chittagong Port after it was offered by the Bangladeshi Prime Minister Sheikh Hasina to the north-eastern Indian states of Assam and Tripura for trade and uninterrupted commerce.

The announcement came after External Affairs Minister S Jaishankar met the Bangladeshi PM for a brief meeting in Dhaka lately. During the meeting, Hasina told Jaishankar that enhanced connectivity through the Chittagong Port was needed for mutual benefit which would particularly benefit India’s north-eastern region.

She said, “If the connectivity is increased, the Indian north-eastern states -like Assam and Tripura- can have access to the seaport in Chattogram.”

New Delhi invites Hasina

Returning the favour and thanking Hasina for the reception, Jaishankar on PM Modi’s behalf, extended the invitation to Hasina to visit India. He said, “I conveyed (her) that we look forward to her visit to India at a time of her convenience.”

The EAM also took to Twitter to remark, “Thank Prime Minister Sheikh Hasina for her warm reception. Conveyed personal greetings of PM @narendramodi. Our bilateral relations are moving from strength to strength under the guidance of the two leaders.”

It is pertinent to note that the Chittagong Port is the main seaport of Bangladesh located in the port city of Chittagong on the banks of the Karnaphuli River. The port handles 80% of Bangladesh’s export-import trade and has been used by India, Nepal, and Bhutan for trans-shipment.

China’s string of pearls strategy

As reported extensively by TFI, when it comes to the maritime tussle between India and China, the past one decade has been all about the “String of Pearls”– Beijing’s strategy of jeopardizing India’s interests in her own vicinity by building naval bases in the strategically located points of the Indian Ocean Region.

The Dragon has been concentrating on the Strait of Malacca, Sri Lanka, Pakistan, the Maldives and the Strait of Hormuz in order to checkmate India in the area of its traditional influence, viz. the Indian Ocean Region (IOR).

Hambantota and Gwadar Ports

It was under this strategy that China usurped control over Sri Lanka’s Hambantota port and Pakistan’s Gwadar port. Thus, Bangladesh and its strategically important ports also appeared to be the next target for Beijing.

However, New Delhi, in recent times has upped its bilateral engagement with Bangladesh and managed to outpace China. As reported by TFI last year, Gowher Rizvi, international affairs advisor to Prime Minister Sheikh Hasina had remarked that Dhaka was more interested in joining the “Indo-Pacific relationship”, rather than being a part of Beijing’s neo-colonial Belt and Road Initiative (BRI).

Gowher had said, “India is our most important partner and you cannot conceive of anything different. It would be suicidal to think differently.”

Gowher also pointed out that China had a role to play in Bangladesh’s growth story but it didn’t come at the expense of New Delhi. “China has a role in Bangladesh. They are an important part of our many development projects. But this is not in any way at the expense of our relationship with India.”

New Delhi extending credit line to Dhaka

Moreover, in December last year, India extended a US$500 million line of credit to Bangladesh, under which Dhaka will soon import Indian defence equipment. China sells substandard defence equipment in the name of cutting-edge defence technology to Bangladesh. By extending the credit line, India is aiming to nullify China’s control and bring the Eastern neighbour closer to its corner.

With India gaining access to the Chittagong Port, China’s evil ambition of surrounding India has been dealt a cruel blow. In fact, New Delhi is on a red-hot form currently regarding its foreign policy. It has already sorted Nepal and Sri Lanka despite China’s desperate attempts to breed chaos. Similarly, the bilateral relations between India and Bangladesh are at their highest in recent history.

 

Israel plans 4,000 new settler units

Defying international law, Israel plans to build around four thousand new settlement units in two areas across the occupied Palestinian West Bank. 

The regime’s announcement of approving the planning and building of 3,988 settler units has alarmed human rights organizations and the international community. 

An official with the Tel Aviv regime claims there is a "growing need" for settlements as the Israeli settlers increase in occupied Palestine in the latest bid to deprive the Palestinian natives from their land.

More than half a million Israeli settlers live in the occupied Palestinian territories, “with many more even wanting to move there”, the Israeli official added.

The regime’s Planning Council for the occupied West Bank is set to give its final approval for building 2,536 new settler units and approve plans for an additional 1,452 settlement units.

The 2,536 settlement units are said to include 761 units for the Beitar Illit settlement, 534 units for Shvuet Rachel, 364 for Dolev, 168 for Neria, 156 for Kiryat Arba, 136 for Givat Ze'ev, 114 for Ma'aleh Michmash, 106 for Tal Menashe, 92 for Zofim, 64 for Revava and 40 for Efrat.

Meanwhile, the 1,452 settlement units include 500 units for the Elkana settlement, 286 units for Kedumim, 192 for Sha'are Tikvah, 170 for Immanuel, and 110 for Mevo Horon, 90 for Dolev, 56 for Negahot, 32 for Nokdim and 16 for Ma'aleh Adumim.

Regime officials say initial intentions were to advance plans for close to 6,000 settler units but were told to cut around 1,800 to 2,000.

Qatar has been among the latest country to condemn the motion calling on the international community to act urgently to prevent the occupation authorities from approving the plans and forcing them to stop their settlement policies in the Palestinian territories.

Israel has reportedly told its top ally the United States that this measure would likely shore up Israeli Prime Minister Naftali Bennett's fragile coalition ahead of the return of the Knesset from the summer session.

Israeli settlements and their expansion in the occupied territories are illegal under international law, yet the regime continues to violate the UN charter.

This comes on the backdrop of an Israeli decision last week to uphold an expulsion order that would force at least 1,000 Palestinians out of their ancestral homes in the occupied southern West Bank where they have been residing for decades.

According to a publication by Doctors without Borders In the occupied West Bank “systematic repression and discrimination by Israeli authorities against Palestinians continue, with home demolitions, forced relocations, and violence on the rise.”

“For many people, such experiences have long-term consequences, particularly when they come on top of pre-existing trauma from previous episodes of violence.” the international medical NGO added. 

Joe Biden running out of money for Ukraine

The Biden administration has reached the end of its presidential drawdown authority funding, with about US$100 million left, the Pentagon’s top spokesman said Monday.   

Between President Biden’s Friday announcement of a US$150 million assistance package to Ukraine and the remaining US$100 million, the United States will be able to provide weapons and equipment to Ukraine until “about the third week of this month,” Press Secretary John Kirby told reporters. 

“We’re going to be working that in real time with the Ukrainians, that will get us to about the third week of this month, is what we’re pretty much anticipating,” Kirby said. 

Biden last week warned that the latest round of military assistance for Ukraine — a US$150 million package to include artillery munitions, radars and other equipment — would nearly exhaust the military assistance that Congress has so far approved for the administration to deliver to Ukraine.  

At the time, he pressed Congress to quickly approve the US$33 billion the White House has asked for in additional security, economic and humanitarian assistance for Kyiv — about US$5 billion of which would go to additional presidential drawdown authority funding.  

Kirby on Monday echoed that thinking and said the administration continues “to urge Congress to pass the president’s supplemental request as soon as possible so that we can continue to provide aid to Ukraine uninterrupted.” 

Kirby said the drawdown authority allows the United States to get weapons and equipment “off our shelves — we already own it, it’s already ours — and get it right to Ukraine.” 

“We think with what we got left that’ll get us through most of this month and in terms of future packages and future material, but that’s why we’re urging Congress to act quickly,” he added. 

Congress is drafting legislation to meet the administration’s request — which has bipartisan support — but the process of approving such a bill may be complicated due to a desire by some to link it to a separate administration ask for more COVID-19 pandemic assistance.   

Syrian President Bashar al-Assad visits Iran

Syrian President Bashar al-Assad made an unannounced visit to Iran on Sunday and met with Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei and President Ebrahim Raisi. 

This is the second time that Assad visits Tehran since the beginning of the war in Syria in 2011.

According to the Leader's office, Ayatollah Khamenei told Assad, who was accompanied by a high-ranking delegation, that Syria has won an international war. "Syria's credibility is much greater today than in the past," the Leader noted.

Ayatollah Khamenei said the resistance of the Syrian people and establishment and their victory in an international war promoted Syria's charisma and pride.

More than 100 countries, calling themselves friends of Syria, backed the opponents which were poised to overthrow the Syrian government. Some of these countries backed terrorist groups, which were active in Syria under different names.

Highlighting Syria's great military and political achievements, the Leader said today’s Syria is not comparable to the Syria before the war.

Today the president of Syria and the Syrian people are proud of the nations of the region, Ayatollah Khamenei.

The Leader added, “Some leaders of our and your neighboring countries meet and greet with the leaders of the Zionist regime and drink coffee together, but the people of these countries take to the streets on Quds Day and chant anti-Zionist slogans, and this is the reality of the region today.”

Pointing to several factors influencing the resistance and victory of Syria in the international war, the Leader told Assad, “One of the most important factors is your high morale and with this spirit, God willing, you can rebuild the ruins of the war because you have a great job ahead of you.”

The Leader of the Islamic Revolution also commemorated the memory of the legendary commander Lieutenant General Qassem Soleimani, saying, “The great martyr had a special liking towards Syria and literally sacrificed his life for the country. His behavior in Syria was no different from his behavior in the eight-year Sacred Defense of Iran.”

General Soleimani was very influential in defeating terrorists in Syria through his unique commandership.

Ayatollah Khamenei said General Soleimani and other prominent members of the IRGC, including martyr Hossein Hamedani, really worked hard and viewed the issue of Syria as a “sacred duty and obligation”.

“This bond between Iran and Syria is vital for both countries and we should not let it weaken. On the contrary, we should strengthen it as much as possible,” Ayatollah Khamenei emphasized.

The Leader also referring to expression of friendship and love of certain countries that were on the front line against Syria in previous years, suggesting Iran and Syria must clarify the path to future “with the benefit of hindsight.”

Ayatollah Khamenei also praised the morale and vivacity of the Syrian president as the basis for doing great things.

During the meeting, which was also attended by President Raisi, Foreign Minister Hossein Amir Abdollahian and Syrian Foreign Minister Faisal Mekdad, Assad thanked the position of Iran toward the Syria war and thanked the Iranian people and government for supporting his country in times of need.

The Syrian president pointed out that the ruins of the war in his country can be rebuilt, but if the foundations and principles had been destroyed, they could not be restored.

“The adherences of the Iranian nation to the principles of Imam Khomeini, which continued with your efforts, paved the way for the great victories of the Iranian nation and the people of the region, especially the Palestinian people,” Assad told Ayatollah Khamenei.

The Syrian president added that some people think that Iran's support for the Resistance Front is of military nature but the most important support and assistance of the Islamic Republic is to breathe the spirit of resistance and continuing it.

In conclusion, the Syrian president stressed that what has made the Zionist regime unable to rule the region is the strategic relations between Iran and Syria, which must continue with strength. Raisi said parts of Syria still under foreign occupation must be liberated

Speaking in a separate meeting with the Syrian President before noon on Sunday, President Raisi said, “What we are witnessing today in Western Asia, which is the result of the resistance of nations against domineering powers and aggressors, is what the Leader of the Islamic Revolution had predicted.”

Commemorating the martyrs of the resistance from Syria and Iran, including General Soleimani, and appreciating the bravery of the Islamic world’s fighters against terrorism, the president called Assad one of the figures of the Resistance Front “like his father.”

Referring to the political and security developments in the region in the last decade, Raisi emphasized, “The warriors of the resistance have proven that they are a reliable force for establishing stability and security in the region, including in Syria.”

Emphasizing the need for all countries to respect Syria's sovereignty and territorial integrity, the president stated that Iran stood by the Syrian people and government when some Arab and non-Arab leaders in the region were betting on the time of the fall of the Syrian government.

Raisi went on to say that the bravery demonstrated by the Syrian Army, national defense forces and Resistance fighters in the region, especially Hezbollah, played a key role in uprooting Daesh and other terrorist groups that threatened the security of the entire region.

Raisi also expressed regret that important parts of the Syrian territory are still occupied by foreign forces, suggesting, “The whole of the Syrian land must be liberated from foreign occupiers. This occupation should not be subject to the passage of time, and the occupying forces and their mercenaries should be expelled.”

Referring to repeated aggressions of Israeli forces, the president stressed that the threats of the Israeli regime in the region should be addressed by “strengthening and diversifying the deterrence equations.”

Elsewhere in his remarks, Raisi referred to the need to strengthen cooperation and coordination between the two countries, emphasizing, “The serious will and desire of the Islamic Republic of Iran is to improve the level of cooperation and relations with Damascus, especially in economic and trade fields.”

For his part, Syrian president stressed the role of Iran in the fight against terrorism in the region, noting that his country is ready for broader coordination with Iran in security, political and economic fields.

The Syrian president added, “In the years of resistance and confrontation with Western and Takfiri aggressions, Iran was the only country that stood by us from the beginning.”

He described the relations between Syria and Iran as “strategic” and stated that developments in the region after a decade of war against the axis of resistance, have shown that resistance is effective and vibrant.

“We have shown that by working closely with the countries of the region, we can defeat the United States and the hegemons who claim to be superpowers, and today we are witnessing the collapse of the role of the United States in the Western Asia region,” Assad stated, adding that the world is witnessing the declining role of the United States in the region.

Elsewhere in the conversation, the Syrian president said, “Experience has shown that the coordination and interaction of countries in the region on various issues, including the Palestinian issue, has been very effective, and the success of the Palestinian resistance has shown that compromise by some Arab states has backfired.”

Thanking Iran’s support for the Syrian people in the war on terrorism, Assad said, “The Syrian people and government are grateful to the Iranian people and consider themselves committed and indebted to Iran.”

Is the end of US dollar dominance approaching faster than anticipated?

With the outbreak of the war in Ukraine, Western countries have imposed all-rounded sanctions on Russia. This, in turn, has had an impact on the global economic, trade and financial systems, raising concerns in the market and academic circles about the adjustment of the global financial system. 

One of the main issues being debated is the future of the US dollar.

Gita Gopinath, First Deputy Managing Director of the International Monetary Fund (IMF) warned that financial sanctions against Russia by the West could gradually weaken the US dollar’s role in the world, leading to further fragmentation of the international monetary system.

Analysts such as Goldman Sachs Economist Cristina Tessari said the actions of the United States and its allies to freeze Russia’s central bank’s foreign exchange reserves have sparked fears that countries may begin to ditch the dollar due to concerns about the power that the United States could muster thanks to the dominance of the currency.

Kenneth Rogoff, a Harvard University Economics Professor, said in an interview with Bloomberg that the dominance of the dollar could end within 20 years. The reason is that the US and its allies have launched sanctions due to the Russia-Ukraine war, restricting Russia’s access to the dollar-dominated global financial system.

This ‘weaponization of the dollar’ will instead stimulate the acceleration of alternative solutions. Rogoff believes that the US blockade or freezing of the foreign exchange reserves of the Russian central bank is undoubtedly a historic development.

The preeminence of financial sanctions on Russia by the US-led Western world could accelerate changes in the international financial system to compete with the US dollar. While this certainly would not happen overnight, what could have taken 50 years may now only take 20 years to realize, said Rogoff.

This narrative appears to be supported by data changes in the dollar’s position in global markets. According to the IMF’s most recent Currency Composition of Official Foreign Exchange Reserves (COFER) data, the American currency’s global dollar-denominated foreign exchange reserves were US$7,087 billion in the fourth quarter of 2021, with a market share of 59.15% in the third quarter, which had dropped to 58.81%.

The dollar’s share of the global reserve currency was as high as 72% around the turn of the century. According to SWIFT’s worldwide payment data, the payment share of the US dollar has declined to 38.85% in 2022.

Is the outlook for the dollar’s prospect as pessimistic as these academics and institutions predict?

Anbound’s founder Chan Kung holds the exact opposite view. He believes that if the global situation continues with the current development trend, the US dollar will stand out in the world. If there are no exchange rate swings caused by inflation or emergency, the US dollar will be in a unique position when compared to the world’s major currencies.

This begs the question, why would the future of the US currency be diametrically opposed to what many feels is happening while a significant game-changing geopolitical event, especially the conflict in Ukraine, is ongoing?

The difference lies mainly in the variety of opinions on the impact of the geopolitical event of the war in Ukraine. Professor Rogoff believes that the dollar has been reduced in terms of market scale, and new currency substitutes will emerge, thereby weakening the dollar’s status.

However, Chan Kung believes that the alternatives to the US dollar cannot succeed, because the market of these alternatives is weak, while their social economy is turbulent, and some are even still in war zones.

For these reasons, the US dollar will remain strong, even becoming the sole stable international currency in circulation. All in all, geopolitical factors play an important role in global currencies, and the dollar will be supported by it.

Chan Kung noted in his article ‘Bracing the Era of Economic Shortage’ that during a period of economic uncertainty, the Anglo-American axis countries might be safer havens in the face of geopolitical turbulence. He believes that once the geopolitical war in Europe is resolved, the maritime countries and economy of the American continent would re-emerge.

From the perspective of the world’s spatial pattern, conflicts and competitions are most intense in the continental region of the world, that is, the continental region where Europe, Russia, the Middle East, Central Asia, China and India are located. It would be difficult to establish buffer zones between them, hence there are direct collisions with each other.

Conflicts and competitions are unavoidable and often have existed since time immemorial. The deep mutual hostility has long been recorded in the chapters of history, and the only thing lacking is often a reason for the actual friction to take place in reality.

In contrast, the geographical location of the Anglo-American axis is in the middle of the ocean. The Atlantic and Pacific routes connect the American continent and a large number of island countries and regions of different sizes, and there are often oceanic divisions between them.

Historically and relatively speaking lesser enmities exist between these parts of the world, and they are mutually dependent in trade relations. Therefore, while the continental regions are experiencing violent upheaval, the Anglo-American axis, the maritime states, and the Americas have more prominent opportunities for development and enjoy greater prosperity than before.

Anbound

Anbound Consulting (Anbound) is an independent Think Tank with the headquarter based in Beijing. Established in 1993, Anbound specializes in public policy research, and enjoys a professional reputation in the areas of strategic forecasting, policy solutions and risk analysis. Anbound's research findings are widely recognized and create a deep interest within public media, academics and experts who are also providing consulting service to the State Council of China.