Putin and Xi Display Friendship on Victory Day

At first sight, things look very different now. When President Xi Jinping of China took pride of place next to Vladimir Putin of Russia on Saturday, they looked like any other modern world leaders: pragmatic men-in-suits, full of smiles, temporary possessors of power rather than dictators-for-life. Back in 1949, when Chairman Mao Tse-tung paid his first visit to Moscow to celebrate Comrade Joseph Stalin's 70th Birthday, it was a paean of old-school Communism. Children in Yo...
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Asian & African Leaders to form New Rival Bank to IMF

Leaders of emerging countries in Africa and Asia have pushed for the establishment of a new development bank to rival the World Bank. The new bank idea was discussed during the 60th commemoration of the Asia-Africa conference last month in Jakarta, Indonesia. The leaders agreed that, to succeed, the bank must be totally separated from the World Bank and the International Monetary Fund (IMF) because the two could no longer be trusted to fully fund development infrastructure projects. Pre...
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