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Palestinian Ministry of Health: Two were martyred in Israeli shelling that targeted a besieged house in the town of Qabatiya in Jenin
At least 68 dead in migrant shipwreck off Yemen: IOM
Trump: We want to feed the people in Gaza, we do not want them to starve.
US President Donald Trump: We will impose sanctions on Russia if it does not end the war on Ukraine.
Israeli media: Polls show that 52% oppose Prime Minister Benjamin Netanyahu while only 29% support him.
Israeli media: 32% of Americans still support "Israel's" war on Hamas, while 60% oppose it.
Israeli media: Core US support for "Israel" hits its lowest, while support for Palestine reaches its highest levels.
Al Mayadeen's correspondent reports martyrs, injuries in Israeli bombardment of home in Heker al-Jame area in Deir al-Balah, central Gaza.
Al-Quds Governorate: Today, the spatial division of Al-Aqsa Mosque began in a public and dangerous manner, and we warn of a religious war in the region
The Ministry of Health in Gaza: This brings the total number of victims of famine and malnutrition to 175, including 93 children

Ukraine crisis to have 'small' impact on China: IMF

  • By Al Mayadeen Net
  • Source: Agencies
  • 17 Mar 2022 20:31
3 Min Read

China, according to the International Monetary Fund, will be very slightly affected by the Ukraine crisis as long as global ramifications don't occur.

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  • IMF spokesperson Gerry Rice
    IMF spokesperson Gerry Rice

The Ukraine crisis will not have a major impact, rather a relatively small one, on China, unless the global economy is significantly affected, International Monetary Fund spokesperson Gerry Rice told reporters on Thursday in light of Russia's special military operation in the country.

"The immediate impact of the conflict is likely to be relatively small. The higher oil prices could affect domestic consumption and investment going forward but price caps will limit the impact overall," Rice told a press briefing. 

However, he highlighted that Beijing could be looking at "serious" economic consequences if the crisis evolved global economic ramifications.

"China would be affected if trade partner growth were to slow significantly, serious supply-side disruptions were to emerge, or global financial markets were more severely impacted," Rice said. 

The crisis in question is due to Russia launching a special military operation for several reasons, including NATO's eastward expansion. Other reasons were the Ukrainian shelling of Donbass and the killing of the people of the Donetsk People's Republic and Lugansk People's Republic, in addition to Moscow wanting to "denazify" and demilitarize Ukraine.

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In response, the US and its allies have rolled out comprehensive sanctions, including restrictions on the Russian central bank, export control measures, SWIFT cutoff for select banks, and closure of airspace to all Russian flights. Many of their companies have suspended their Russian operations.

US faster pace of interest rate hikes raises risks for dollar reliance

The faster pace of interest rate hikes by the US Federal Reserve increases the risks for countries relying on the dollar, Rice revealed.

"This faster pace of Fed normalization increases the risks faced by other countries relying on dollar funding, especially in emerging and developing economies," the spokesperson declared.

Rice explained that the Federal Reserve was appropriately moving to a less accommodative stance of monetary policy. 

However, evaluating the impact of this policy on emerging markets is more difficult now and should be done on a case-by-case basis, Rice said.

The status-quo and the US sanctions on Russia have weakened US citizens' purchasing power, causing fuel prices to soar in the country with US oil prices reaching their all-time high following a ban on Russian fuel exports.

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Russia & NATO

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

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