A New Banking Crisis?

A New Banking Crisis?

Bad Numbers Today, there are over $3 trillion in stressed loan assets, compared to around $1 trillion of US sub-prime loans which was the catalyst for the 2008/2009 crisis. The World Bank estimates the ratio of non-performing loans (“NPLs”) to total gross loans is comparable the 2009 levels of 4.2% in 2009. Several loci of […]

The Struggle for Brazil- and Against the BRICS

The Struggle for Brazil- and Against the BRICS

While international media focuses on Brazil’s mass demonstrations against corruption, efforts behind the façade precipitate regime change, restoration of a pre-Lula order, and a struggle against the BRICS nations. The U.S. feels threatened by an era of multipolarity, which deeply implicates China, and other emerging economies. In August 2016, Rio de Janeiro should host South […]

How Russia Should Change Its Healthcare System?

Vitaly Omelyanovsky – Head of the Center for Studying Healthcare Finances at the Financial Research Institute of the Russian Ministry of Finance, MD, PhD, Doctor of Medical Sciences, Professor. Over the last twenty years, Russia has significantly changed the way it finances healthcare. Before the collapse of the USSR, the nation’s healthcare system had been supported from the budget. […]

The Challenge of Frugal and Greener Winter Olympics

Recently, the International Olympic Committee (IOC) awarded the 2022 Winter Games to Beijing, in a joint bid with the city of Zhangjiakou, the capital’s “northern door” adjoining mountains with ski resorts. In the West, the response has been apprehensive, presumably because of concerns about cost and environment.  “Plug-and-play” Olympics As costs have soared and environmental […]

BRICS Apart as Oil Prices Plunge

The oil price plunge since last June has been deemed, overall, as a boon for the global economy. However, that depends on where one stands as a producer or user, as illustrated here with the divergence of impacts on BRICS economies. Lower oil prices have come for long  Brent crude oil prices fell to US$45 […]

Are Mega-Trade Agreements a Threat to Brazil?

The landscape of international trade negotiations has been undergoing an upheaval. On the multilateral level, after 15 years of unsuccessful attempts to close the Doha Development Round at the World Trade Organization (WTO), the negotiation system has shown to be highly vulnerable to blockades by any small group of member countries. The complex web of […]

Is the BRICS Contingent Reserve Arrangement a Substitute for the IMF?

Russian President Vladimir Putin has hailed the new BRICS contingent reserve arrangement (CRA) as a substitute for the IMF, saying that it “creates the foundation for an effective protection of our national economies from a crisis in financial markets.” But does it? Under the terms of the arrangement, China can, without being on an IMF […]

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