China, Japan and South Korea intends to use the domestic currency for clearing trade among the three countries to challenge the U.S. dollar
Reuters reported that, on May 4, Ministers of Finance from China, Japan and South Korea in Hanoi, issued a joint statement said the three countries have agreed to use the local currency clearing import and export trade with each other to start a feasibility study . If everything goes smoothly, the three countries will use their own currencies in their trade settlements among them, which is the latest challenge to the U.S. dollars’ status settlement .
South Korea says the economic dependence of North Korea on China reaches 80%
According to South Korean media reports, some South Korean analysts think that North Korean external trade is worsening, whereas its dependence on China is increasing. Therefore, the economy is in “crisis mode” and it still needs the external support. It is reported that North Korea’s economic dependence on China is up to 80%, so it is in urgent need of reform and opening measures.
South Korea announced that on December 23, they would carry out in the largest live-fire exercises at the border of South Korea and North Korea
According to AFP news, South Korean military announced on December 22, at the border of South Korea and North Korea, South Korea would carry out a major ground and air live-fire exercises. Moreover, on December 20, at afternoon local time, South Korea carried out live-fire exercises, making a sudden escalation of tension for peninsula .
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