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  • Russia's Finance Minister Anton Siluanov, left, India's Minister of State for Finance and Corporate Affairs Nirmala Sitharaman, second left, Brazil's Finance Minister Guido Mantega, center, China's Finance Minister Lou Jiwei, second right, and South Africa Finance Minister Nhlanhla Nene, right, sign an agreement creating a development bank during the BRICS 2014 summit in Fortaleza, Brazil, Tuesday, July 15, 2014. The leaders of the BRICS nations are meeting in Brazil for a summit where they are expected to officially create a bailout and development fund worth $100 billion. It's meant to be an alternative to the World Bank and the International Monetary Fund, which are seen as being dominated by the U.S. and Europe. (AP Photo/Silvia Izquierdo)

    FEDEWA: BRICS vs. the dollar: The latest challenges

    Lost behind the tragic headlines of recent weeks was an event of potentially historic importance to the reign of "King Dollar." For some time, the coalition of Brazil, Russia, India, China and South Africa (known as BRICS) has been talking about staking a competitor to the International Monetary Fund (IMF). Last week, they announced a $100 billion capitalization of a Contingent Reserve Arrangement for BRICS' New Development Bank.

  • In this Saturday, July 19, 2014 photo released by China's Xinhua News Agency, a vehicle sits under a collapsed building after landfall of typhoon Rammasun in Haikou, capital of south China's Hainan Province. The strongest typhoon to hit southern China in four decades has killed more than a dozen people, the government said Sunday. (AP Photo/Xinhua, Xia Yifang) NO SALES

    Super typhoon Rammasun kills 18 in China

    The strongest typhoon to hit southern China in more than 40 years has killed at least 18 people since making landfall on Friday afternoon, after hitting parts of the Philippines where the death toll has risen to 94.

  • Japan's Prime Minister Shinzo Abe (left) and Australia's Prime Minister Tony Abbott watch traditional Japanese drum performance at Parliament House in Canberra, Australia. Mr. Abe's warm reception in Australia has angered China. (Associated Press)

    Inside China: PLA commander replaced in Hong Kong

    Maj. Gen. Liu Xiaojun, the high-flying commanding officer of the People's Liberation Army contingent in freewheeling Hong Kong, was abruptly relieved of command recently and reassigned to the Guangzhou Military Region in a new position believed to be mostly ceremonial.

  • Papal trip to Korea should renew local Churches, priest says

    In the run up to Pope Francis visit to South Korea next month, a Korean priest said he expects ground breaking changes there in terms of peace and the Church’s service to society.

  • Moon shot: This photo of astronaut Edwin "Buzz" Aldrin taken on the lunar surface 45 years ago has become one of the most iconic images of human history. (NASA via Associated Press)

    Astronaut Buzz Aldrin presses need for space exploration

    Forty-five years after man first landed on the moon, one of the men who was there is worried that the U.S. has become lost in space.

  • ** FILE ** Chinese President Xi Jinping walks near a guard of honor at a welcome ceremony for Myanmar President Thein Sein in Beijing, China, June 27, 2014. (AP Photo/Ng Han Guan)

    A 'new Cold War': China's top paper warns of 'slippery slope' towards conflict with U.S.

    As diplomatic talks in China come to a close, one of the country's biggest newspapers is warning citizens against a "new Cold War" with the United States.

  • Illustration on U.S. naval power in decline by Alexander Hunter/The Washington Times

    GRANT: The dangerous decline in America's maritime might

    The threats to peace and order on the global seas are growing.

  • Japan's Prime Minister Shinzo Abe speaks during a joint press conference with New Zealand's Prime Minister John Key as he starts an official visit to New Zealand, at Government House, in Auckland, New Zealand, Monday, July 7, 2014.   (AP Photo/SNPA, David Rowland) NEW ZEALAND OUT

    Inside China: Anti-Japan propaganda campaign backfires

    Monday marked the 77th anniversary of the beginning of all-out war between China and Japan, and Chinese leaders spared no effort to use the occasion to carry out a choreographed anti-Japan propaganda campaign.

  • U.S. climate change envoy Todd Stern said recent talks with China were "positive," but also said the two nations "talked a lot and agreed on little." (Associated Press)

    Inside the Ring: Hot air in Beijing on climate change

    Senior Obama administration officials this week trumpeted bilateral climate change talks with the Chinese in Beijing — one of the world's most polluted cities.

  • North Korea seeks allies as China accord cools

    A string of unexpected, even odd, overtures from North Korea to its neighbors in recent days is fueling speculation that the isolated nation and its mercurial leader could be seeking to broaden its diplomatic options elsewhere in the region to account for a cooling relationship with Pyongyang's principal ally, China.

  • A Chinese clerk counts U.S. dollars in exchange for Chinese renminbi at a Hefei, China, bank. (Associated Press)

    FEDEWA: Hyperinflation versus the energy superpower

    The chief threat to America in the near term is hyperinflation. The chief defense we have against this threat is energy dominance. How do these factors fit together?

  • A Chinese submarine on the ocean surface. (credit: AsiaNews)

    China invests in nuclear submarines

    China's military is investing heavily in advanced submarines, including both ballistic and cruise missile firing vessels — and attack subs.

  • An F-22 Raptor pilot from Joint Base Elmendorf-Richardson, Alaska, approaches a KC-135 Stratotanker to be refueled May 19, 2014, over the Joint Pacific Alaska Range Complex. (U.S. Air Force photo)

    F-22 Raptors deployed to confront China

    The Pentagon is sending a powerful political signal to China by dispatching six front-line F-22 stealth jets to Asia — a message received loudly in Beijing, according to state-run media.

  • Vessels sit docked at Pearl Harbor, Hawaii, during the the Rim of the Pacific naval exercises on Monday, June 30, 2014. (AP Photo/Audrey McAvoy)

    Inside China: Mixed feelings over multinational naval exercise

    For the first time in its 43-year history, the world's largest multinational naval exercise, Rim of the Pacific exercise, or RIMPAC, hosted by the U.S. Navy on a biennial basis, has invited the Chinese navy to participate. And China is taking the unique opportunity seriously but with mixed feelings.

  • FILE - In this May 29, 2012, file photo, a train hauls coal north out of downtown Seattle from the Rockies toward British Columbia. Regulators have received an unprecedented number of public comments on the disputed proposal to export millions of tons of coal to Asia from a facility along the Columbia River in Washington. Officials are preparing to sift through more than 163,000 comments to decide which environmental effects should be reviewed. (AP Photo/Elaine Thompson, File)

    Obama pleas to China, India to forgo use of coal falls on deaf ears

    Coal may have played an integral role in turning the U.S. into the world's top economic superpower, but President Obama is actively pushing China, India and other emerging economies to ignore the fuel that powered the Industrial Revolution and instead embrace renewable sources favored by those on the political left.

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