Skip to main content

Posts

Showing posts from April, 2023

Finland becomes a NATO member.

 Finland joined the NATO military alliance Tuesday, dealing a major blow to Russian Vladimir Putin with a historic re-alignment of Europe's post-cold war security landscape triggered by Moscow's invasion of Ukraine. This marks a definitive shift in Europe's post World War 2 alignment and isolating  Russia further. By joining NATO Finland has ended its 70 years of military non-alignment which shares a 1,340 km border with Russia. In the Cold War years, a policy of neutrality between the Soviet Union and West was known as ' Finlandization ' , it has been one of the options discussed for Ukraine before Russia invaded it.  Why Finland joins NATO and its significance. The answer is simple-  Russia going to war against Ukraine has made its smaller neighbours crave the powerful military backing the NATO offers, under whose charter, every member being attacked. Soon after the Russian invasion of Ukraine, Finland and Sweden applied for NATO membership. NATO was set up af

IMF $15.6 billion loan to Ukraine.

 The International Monetary Fund(IMF) said on Friday its executive board approved a four year $15.6 billion loan program for Ukraine, which is part of a global $115 billion package to support the country's economy as it battles Russia's 13-month old invasion. If approved, it will be the first time in 80 years the IMF loans to country at war. This move is obviously politically motivated. Buy also, the  humanitarian need on the ground is quite severe. The loan itself is actually for 2 1/2 years, but will unfold in two stages. The first is a year to year and a half will be devoted to building, fiscal, external, price and financial stability. Basically, they'll focus on something called revenue mobilization. Before that Ukraine must meet certain conditions over the next two years, including steps to boost tax revenue, maintain exchange rate stability, preserve central bank independence and strengthen anti-corruption efforts, because some news has been coming out of Ukraine a

ISRO's Reusable Launch Vehicle passes landing test

 The Indian Space Research Organization(ISRO) on Sunday successfully conducted an experiment that it said would propel the country forward in its goal to send reusable rockets into space. The space agency conducted the "Reusable Launch Vehicle Autonomous Landing Mission(RLV LEX)" at the Aeronautical Test Range of the Defense Research and Development Organization (DRDO) in Karnataka's Chitradurga district. According to ISRO, the RLV took off as the underslung load of a Chinook Helicopter of the Indian Air Force and , after reaching an altitude of 4.6 km, was released for carrying out an autonomous landing on a runway. This test was the second of five tests that are part of ISRO's effort to develop RLV's or space planes/shuttles, which can travel to low earth orbits to deliver payload and return to earth for use again. The experiment was carried out nearly seven years after the technology demonstration of an RLV and the first experiment was conducted successfully b

India and Malaysia can now use rupee to settle trade

India and Malaysia can now use the Indian rupee to settle trade  addition to other currencies, the Ministry of External Affairs said on Saturday. The move follows the decision by the Reserve Bank of India in July last year to allow settlement of international trade in Indian currency. The MEA said the  RBI's initiative is aimed at facilitating the growth of trade an supporting the interests of the global trading community in the Indian rupee. "India International Bank of Malaysia (IIBM), based in Kuala Lumpur , ahs operationalized this mechanism by opening a special Rupee Vostro account through its corresponding bank in India that is Union Bank of India." What is a Vostro Account? Vostro accounts are used to make payments in domestic currency. The opening of this account will allow Malaysia to use the Indian Rupee to settle trade payments. This move is expected to benefit both India and Malaysia. It will eliminate the need for foreign exchange conversion and will reduce

Is China's population shrinking.

 For the first time in six decades, China's population is shrinking and it is predicted it could create a demographic crisis. That's because China's population isn't just shrinking, it's also aging. The more concerning problem is that majority of Chinese couples are not considering having more than one child. Last week, officials announced that 2022 marked the first drop in total population, since the famine of the Great Leap Forward. China's demographic trajectory is far from usual. It is following in the path set by the rest of East Asia. China is predicted to lose nearly 50% of its population by 2100. This  population decline can be traced back to the restrictive family-planning policies launched in the 1970 and an impressive economic boom fueled by China's huge labor force. China's modernization brought rapid urbanization rising income levels, and better education to large parts of the country. Combined, these policies and growth gave China one of t