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Palestinian platforms: Settlers storm Al-Aqsa Mosque complex under the protection of the occupation police
Palestinian platforms: The IOF detonated a booby-trapped robot east of the al-Zaytoun neighborhood, south of Gaza City
Syrian Defense: We call on all parties in Sweida to cooperate with security forces and exercise restraint
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation
Al Mayadeen's correspondent: It has not yet been determined whether the detainees belong to ISIS or another organization
Al Mayadeen's correspondent: Around 10 people of different nationalities, including Lebanese nationals, were detained
Al Mayadeen's correspondent: The Lebanese army arrested a number of people in the Matn area of Mount Lebanon with possession it has not disclosed
Gaza Civil Defense spokesman: We have strong indications that there are martyrs, injuries, and trapped people in the Salah al-Din area
Gaza Civil Defense spokesman: Citizens should avoid Salah al-Din Street because anyone who approaches it is at risk of being directly targeted
Gaza Civil Defense spokesman: Reality is that there is a very limited retreat of the vehicles, with the occupation forces providing cover undeer fire up to Salah al-Din Street

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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Russia slams US-Denmark military pact as threat to its security

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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  • Ukraine crisis
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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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