Daily Happenings

On April 2, 2025, former President Donald Trump made a bold move that sent shockwaves across the global economy—announcing sweeping new tariffs on imports to the United States. The policy includes a 10% blanket tariff on all goods entering the country, with significantly higher rates targeting key trading partners: 34% for China, 20% for the European Union, 24% for Japan, 25% for South Korea, and a staggering 32% for Taiwan. The announcement has rattled global markets, with stock exchanges in Beijing and Tokyo taking heavy losses, and European markets following suit. Investors are flocking to safe-haven assets like gold, and oil prices have taken a hit, signaling fears that the tariffs could stifle global economic growth. Economic experts are warning that these tariffs could lead to increased production costs, higher prices for consumers, and potential job losses. Shipping giant Maersk has already criticized the move, calling it damaging to global trade stability. In response...

The BRICS nations (Brazil, Russia, India, China, and South Africa) have long been working towards strengthening their economic cooperation and reducing reliance on the US dollar as the dominant global currency. As a significant step forward, it has been recently announced that 41 countries are ready to accept the BRICS currency.  This development marks a significant milestone in the BRICS nations' quest to establish an alternative global financial system. In this blog post, we will delve into the implications of this decision and explore the potential benefits and challenges associated with the acceptance of the BRICS currency. Background The BRICS nations collectively represent a significant portion of the world's population and possess substantial economic potential. In 2020, the combined GDP of BRICS countries accounted for around 24% of the global GDP. By collaborating and leveraging their economic might, the BRICS nations aim to create a more balanced, multipolar world ord...