More fair global governance

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News Date: December 21, 2022

Russia's Medvedev meets China's Xi in Beijing.
Former Russian president has undertaken a surprise trip to Beijing and held talks with Chinese President Xi Jinping during which he said they discussed strategic partnership.
'China is ready to move closer to Russia for the sake of more fair global governance' -Xi Jinping.
Sources: reuters.com

Supreme Court could hit the tax system

The Supreme Court's decision to hear a pivotal tax case has profound implications for the future of the U.S. tax system.
At stake is the constitutionality of a proposed wealth tax, which could address economic disparities or dismantle key aspects of the existing tax framework.
A favorable ruling may promote social equity, while an adverse outcome could preserve individual economic freedom.
The case underscores the delicate balance between economic growth and fairness, making it a crucial moment in the nation's fiscal history with far-reaching implications.
The Supreme Court is expected to issue a decision by June 2024.

The Quantum Revolution

How Quantum Computing Will Transform Life:
Quantum computing remains a nascent technology, but its potential is already being felt across many sectors.
From healthcare to finance to artificial intelligence, we look at the industries poised to be reshaped by quantum computers.
Quantum computers could help improve by parsing through data more quickly, running better forecasting models, and more accurate weighing conflicting possibilities.
They could also help solve complex optimization problems related to tasks like portfolio risk optimization and fraud detection.
Sources: www.cbinsights.com

Global Peace, Security, and Prosperity Proposals at SCO

At the Shanghai Cooperation Organization (SCO) meeting, Chinese President Xi Jinping proposed several initiatives to strengthen regional cooperation:
Solidarity and Mutual Trust: Emphasizing the importance of unity within the SCO.
Peace and Tranquility: Advocating for collective security among all countries.
Prosperity and Development: Promoting regional collaboration through agricultural technology, local economic trade, and environmental innovation. Encouraging the use of China's Beidou Satellite Navigation System and participation in the International Lunar Research Station. Offering digital technology training.
Good-Neighborliness and Friendship: Hosting 1,000 young people from SCO countries in China over the next five years for exchange opportunities.
Fairness and Justice: Supporting a multipolar world and inclusive economic globalization. The SCO should contribute to addressing global deficits in peace, development, security, and governance.
President Xi emphasized that the SCO's success is due to its solidarity and cooperation, and China, as the next president, will continue to work with SCO partners to pursue common progress and a shared future for mankind.

Zimbabwe to back its currency with gold

Update: The IMF urged Zimbabwe to expedite currency reforms during a recent staff visit, emphasizing a move towards a market-driven exchange rate and the removal of existing distortions.
Zimbabwe's Finance Minister announced new measures to stabilize its local currency in an online press briefing held Monday.
Zimbabwe to back its currency with hard assets such as gold to end exchange-rate instability, Finance Minister Mthuli Ncube said.
"The idea going forward is to make sure that we manage the growth of liquidity which has a high correlation to money supply growth and inflation.
The way to do that is to link the exchange rate to some hard asset such as gold," said Ncube.
He also announced a conference of African ministers that Zimbabwe will host at the end of this month.

The largest-ever BRICS summit

In October 2024, Russia will host the largest-ever BRICS summit in Kazan, as announced by President Vladimir Putin.
The choice of Kazan underscores Russia's commitment to fostering collaboration among the BRICS nations.
Events will also be held in the well-established BRICS+ format, Putin stated.
The summit aims to address global issues, strengthen diplomatic ties, and explore enhanced cooperation, adding a unique cultural and historical dimension to the proceedings.