economics

    US and Venezuela have a very consensual relationship between each other because such relation is traditionally been characterized by trade, investment, and cooperation from both of the sides. But as the good and bad days are sides by side, the relations between these two countries plunged into worst level when the USA imposed economic sanctions on Venezuela because of the abuses against protestors during 2014-15 protests. The combative relations between the U.S.

The market was supposed to save the planet.

That, at least, was the argument of many economists grappling with the problem of climate change. As fossil fuels became scarcer, they pointed out, the price of oil and natural gas would go up. And then other options, like solar and wind, would become cheaper, particularly as investment flowed into that sector and drove down the cost of new technologies.

And voila: The invisible hand would gradually turn down the global thermostat.

Colombia's foreign debt in July has risen up to 107.681 million US dollars, reaching 33.3 % of the Gross Domestic Product (GDP) – highest in the country since 1995, reported on Tuesday the Central Bank of the country.

In its report on Financial Markets, Bank of the Republic has informed that the percentage of total external debt to GDP has increased by 7.6 % in July compared with the same month of 2014, when the entire public and private indebtedness has reached 25.7 % of GDP.

External debt includes both public and private debt on the country.

While the European media arouse emotion by showing photographs of a drowned child and reports of crowds of refugees crossing the Balkans on foot, Thierry Meyssan demonstrates that these images have been fabricated. It’s certain that they serve the purposes of the head of the Federation of German Industries, Ulrich Grillo, and also NATO. But they do not show the phenomenon in its totality, which leads the Europeans to offer inadapted responses.

After the devaluation of the yuan, the international financial markets started trembling. Washington accused Peking of taking advantage of the market. As China wants to incorporate the yuan into the Special Drawing Rights, it is inconvenient to prolong the devaluation. Furthermore, if a currency war broke out, China would risk increasing the economic and geopolitical tensions between countries in the Asian-Pacific region. That way, the United States would have more possibilities to disrupt regional co-operation initiatives and thereby undermine China’s rise as a world power.

In international press, a lot of ink has been devoted to the BRICS. Without a doubt the participation of the five-party in the world economy block has increased over the course of the last years, competing directly with the United States and the European Union. However, the details about the New Development Bank and the Contingent Reserve Arrangement make it clear that its members resist to abandoning the orbit of the dollar in order to destroy the shell of the Bretton Woods institutions.

The members of the G7 just ended their 41st summit. The leaders of Canada, France, Germany, Italy, Japan, the UK and US gathered in a great Bavarian palace, the Schloss Elmau. It was a fitting location for the masters of the universe.

They claim that the maintenance of world order is their passtime. In fact, what they are most interested in is the preservation of their power at any cost.

The Board of Control of the State Water Resources adopted rules requiring cities to limit watering of public property and encourage homeowners.

California regulators adopted unprecedented broad restrictions on how people and companies can use the water because of the intense drought in the state.

The Board of Control of the State Water Resources on Tuesday approved rules requiring cities to limit watering of public property and encourage homeowners to dry their lawns.

Venezuelan President Nicolas Maduro today announced measures against the Federation of Chambers of Commerce and Production of Venezuela (FEDECAMARAS), which he accused of being behind an economic war, aiming to destabilize the country.

In a ceremony held in the state of Anzoategui (east), Maduro also accused the Fedecdmaras of causing misery, by provoking high inflation and commodity shortages.

In Latin America there are some 420 aircrafts manufactured in Russia which include a hundred helicopters Mi-8/17, 18 fighters Su-25, 31 MiG-29 and 70 MiG-21. On Wednesday Rostec the Russian state company said it is considering creating a center for aircraft maintenance and Russian helicopters in Latin America. “Rostec” has revealed that the first center for component repairs and parts replacement, as a pilot project will be created in Peru.