Anna's Daybreak News

Good morning news explorers! Prepare to embark on an adrenaline-fueled journey through the twists and turns of the news landscape

• China’s economy grew at 6.3% in the second quarter, missing expectations of 7.1%.


• Retail sales and property investment both weakened in June, leading to calls for Beijing to take more action to kickstart the economy.


• It remains to be seen if Beijing's efforts will be enough to prevent further economic drag, or if further developments will be needed.


• China's economic troubles serve as a reminder that when a government is too intertwined with the market, the elasticity and resilience of a true free market dwindle.
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• The U.S. dollar has experienced its worst slump since November.


• A number of strategists and investors have speculated that a turning point for the world's primary reserve currency is imminent.


• Standard Bank projects a "multi-year downtrend" in the dollar's value.


• If their predictions are correct, it could have a serious effect on global economies and financial markets.


• It appears the world may be looking at the potential end of an era for the U.S. dollar.
Source: Read More

• A consortium led by Russia and China has proposed using gold as the basis of a planned international currency system separate from the US dollar and euro.


• The proposed system is similar to the Bretton Woods meeting in 1944, which introduced a gold-based international currency architecture and laid the foundation for two decades of peace and prosperity.


• There have been various attempts in recent years to move towards an international arrangement based on gold, including proposals by the Malaysian prime minister, Libya's Muammar Gaddafi, and China's central bank.


• The BRICs are composed by Brazil, Russia, India, China and some other emerging countries


• The attempted isolation of Russia from the Western financial system due to the conflict in Ukraine has ignited a new "golden rush" and sparked the BRICs' initiative to reinvent the global currency system.


• Can this axis of despot leaders dethrone the US Dollar as the world's reserve currency?
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• An unspecified accident on the Crimean Bridge connecting Crimea to Russia’s mainland caused traffic to be halted.


• The closure was announced early Monday, July 17, 2023, by the governor of Russia’s annexed Crimea.


• Explosions were heard on the bridge as reported by Ukrainian media


• Russian-installed governor Sergei Aksyonov reports the emergency on the 145th pillar


• The bridge was damaged in October by a truck bomb and required months of repairs before resuming full service.


• Ukraine's military intelligence department declined to comment on the incident but noted that the bridge is an important supply artery for Russia’s war in Ukraine.


• Biden Administration announces plan to provide thousands of cluster munitions to Ukraine as part of latest military aid package.


• Russia reacts to move with reminder that President Putin has “sufficient stockpile” of cluster bombs.


• Looks like Crimean commuters will be taking a long swim to the other side in this ever escalating war.
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Baked with love,

Anna Eisenberg ❤️