Despite China's ambitions, renminbi in no position to topple dollar

The Donald Trump administration is pushing the United States (US) into uncharted territory in so many ways that it's difficult to gauge where and how things will eventually settle
Business Standard Editorial Comment Mumbai
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People's Bank of China Governor Pan Gongsheng on Wednesday made a strong pitch for a multipolar international monetary system and warned against excessive reliance on a single currency. The message clearly is to shift away from the dollar-denominated global financial system. China has been consistently trying to project the renminbi (RMB) as an international currency. Six foreign banks announced on Wednesday that they would use China's Cross-Border Interbank Payment System, an alternative to the SWIFT (Society for Worldwide Interbank Financial Telecommunication) payment system. In principle, there is merit in the argument that the world should not rely on one currency

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• India Today

Mapping US military posture in West Asia as Trump mulls Iran attack

As President Donald Trump decides whether to join Israel's attack on Iran, the American armed forces have made a series of manoeuvres to adjust the US defence posture in West Asia amid the ongoing conflict between Tehran and Tel Aviv. advertisementAccording to open-source evidence, US officials, and media reports, more than 15 destroyer ships, cruisers, oilers, logistics ships, and a carrier strike group (CSG) Carl Vinson, are currently operating in the Central Command's (CENTCOM) areas of responsibility in the Arabian Sea and Red Sea. Another carrier strike group, the crown of US naval power, has also been diverted to West Asia, as per USNI News. CSG Nimitz (CVN-68) was sailing in the Malacca Strait three days ago, as per ship tracking data. Six more ships, including two destroyers, are deployed in the Mediterranean Sea to support MOVED TO AVOID IRANIAN ATTACKadvertisementThe US has also made some moves to protect its vulnerable naval and air assets in the Persian Gulf. Satellite images suggest the US has moved unsheltered fighter jets and aircraft from its largest air base in West Asia, Al Udeid air base in Qatar, to safer locations. Navy ships have also been dispersed from the US-West joint naval base in Bahrain, called the Naval Support Activity (NSA). Credit: European Space Agency (ESA) The military assets were moved away from their original places in anticipation of an Iranian attack on the US forces. After Israel's attack, Iran has threatened to attack US forces, citing Washington's continued political, diplomatic, and military support to Tel Aviv. Credit: European Space Agency (ESA) US TROOPS IN WEST ASIAThe US maintains more than 11,000 on-ground military personnel across West Asia. As per the Congressional Research Service (CRS), the US maintains eight permanent and 11 temporary or rotational military bases in the of 2024, there were around 5,400 permanent US troops, and more than 6100 service members were deployed on a rotational basis in Jordan and Saudi Arabia. Nearly 3500 US troops are deployed in Bahrain alone, as per the Congressional Research Service The US regularly makes adjustments to its troop deployment as per the situation. For example, it deployed additional forces when Yemen's Houthis were targeting Red Sea shipping lines and pulled some non-essential personnel before the Israeli attacks earlier this from these troops, thousands of others were present on the carrier strike group (CSG) and other ships in the IN A CARRIER STRIKE GROUP?A carrier strike group (CSG) is a principal element of US power, holding enough firepower to rival the air forces of many for being powerful, mobile, flexible, independent and sustainable, a carrier strike group typically contains roughly 7,500 sailors and marines. An aircraft carrier serves as the platform for flight operations and also forms the nucleus of a carrier strike group. Every aircraft carrier of the CSG is nuclear-powered, which means it can remain on the high seas for a longer period. advertisementA CSG contains five different types of ships: a nuclear-powered aircraft carrier, a replenishment ship, a cruiser, destroyers, and an attack 66 aircraft and helicopters are typically deployed on board a carrier strike group's ships, including fighter jets, Growlers for electronic warfare, Hawkeyes for surveillance, C-2 Greyhound for transporting supplies from the shore, and helicopters. Typically, five types of ships are part of a carrier strike group The CSG is meant to 'achieve and sustain air, sea and undersea control, respond to crises and protect the United States' interests anywhere, anytime,' reads an infographic published by Huntington Ingalls Industries, the sole builder of US Navy aircraft MILITARY BUILD-UPThe operations of two carrier strike groups in close proximity are quite unusual and signal the Trump administration's preparedness for any eventualities as the Israel-Iran conflict escalates further. The deployment comes amid growing indications that President Donald Trump has been warming up to the idea of joining Israel to strike some of Iran's nuclear sites. 'I may, I may not. Nobody knows what I'll do,' he told reporters when asked if he would order US forces to strike Iran. Fordow is situated nearly 120-km southwest of capital Tehran. advertisementThe US military role is crucial for destroying Iran's Fordow underground nuclear enrichment facility, which the United Nations' nuclear watchdog says has enriched Uranium up to 83.7 per cent facility is located 80-90 meters below the surface in a mountainous area. To destroy this facility, US B-2 Stealth bombers will need to drop GBU-57A/B 'bunker buster' bombs. Tune In IN THIS STORY#United States of America#Donald Trump

India Today

40 minutes ago

• India Today

Israel-Iran fray: How much military does Uncle Sam have in West Asia?

United States President Donald Trump's see-saw statements on Iran have now swung more towards military force in West Asia. A month ago, he claimed at a conference in Qatar that the US and Iran were in serious negotiations to resolve their nuclear dispute for long-term on June 17, he posted the words 'unconditional surrender' in all caps on his TruthSocial account. And now, he's dithering over whether the US will get involved directly in the Iran-Israel conflict. Nevertheless, US actions seem to be more decisive now as it's been moving some of its military might closer towards Iran since Israel's first attack on Iran on June US has deployed fighter aircraft, including the F-16, F-22, and F-35, as well as 30 refuelling aircraft, mainly KC-135R Stratotankers and KC-46A Pegasus tankers, in several locations across Europe and West Asia. It already has the USS Carl Vinson Carrier Strike Group warships stationed close to Oman. And now, the USS Nimitz Carrier Strike Group is reportedly sailing from East Asia towards the West. Both can hold about 7,500 personnel and 75 aircraft, including fighter jets. The US military has a sizeable presence in West Asia, going back more than five decades. Currently, it has more than 40,000 troops deployed at 19 sites. Usually, there are about 30,000 troops in the region, though the number surged to 43,000 in October 2023 after the Hamas attack in Israel and the continuous attacks by Houthis on ships in the Red largest concentrations of US forces are located in Qatar, Bahrain, Kuwait, the United Arab Emirates, and Saudi Arabia. Here's a look at the most prominent ones:Al Udeid Air Base (Qatar): At 60 acres and with almost 10,000 troops, it is the largest US military installation in West Asia. It functions as the forward headquarters for US Central Command, also known as CENTCOM, and can house nearly 100 aircraftNaval Support Activity, Bahrain: Located in Manama, it is the headquarters of the US Navy's Fifth Fleet. It hosts approximately 9,000 personnelCamp Arifjan (Kuwait): Established in 1999, it hosts a sizeable proportion of the 13,500 American forces stationed in KuwaitAl Dhafra Air Base (United Arab Emirates): This strategic air base hosts 5,000 US military personnel and advanced aircraft, such as F-22 Raptor stealth fightersPrince Sultan Air Base (Saudi Arabia): More than 2,700 American forces are stationed here. Recent deployments to this facility have included F-16 fighter jets relocated from ItalyMuwaffaq Salti Air Base (Jordan): This base hosts approximately 3,000 American troops and is reported to have several MQ-9 Reaper drones, crucial for intelligence and strike missionsTrump, in his most recent statement today, said that he will allow two weeks for further negotiations before deciding on striking Iran. Americans are hoping that in the meantime, Iran will relent and agree to terms it had rejected earlier, including abandoning its enrichment of on Thursday also warned the US not to take military action against Iran. Moscow is one of Tehran's most important allies. "We would like to particularly warn Washington against military intervention in the situation," Russian foreign ministry spokesperson Maria Zakharova said. Though Trump has reportedly rejected Russia's offer to broker the sidelines, foreign ministers from France and Germany, and the European Union's high representative, Kaja Kallas, are meeting Iran's Foreign Minister Abbas Araghchi in Geneva today to find a diplomatic solution for Tehran's nuclear InMust Watch

Time of India

42 minutes ago

• Time of India

Amid Israel-Iran conflict and World War III fear, Trump rants about not playing golf for weeks

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