The People’s Bank of China announced devaluation of the Chinese yuan on Tuesday. The PBC said that the central bank will begin to set the yuan's central parity rate against the greenback based on market-based quotes and the previous trading day's closing level to better reflect market forces.
The world has suffered its most radical shift in a long time with the creation of North American hegemony. A few decades were enough for us to know that the end of the "cold war" was not the end of the war but, rather, a multiplier, in a voracious US imperial offensive. Entire civilizations have been destroyed - such as Iraq, Afghanistan, Syria.
Japan is concerned with the flabby process of signing the Trans-Pacific Partnership (TPP). The people involved in the previous talks failed to agree to reconvene a meeting of trade ministers on the proposed Trans-Pacific Partnership free trade initiative by the end of August as had been initially planned.
The predictable defeat on Trade Adjustment Assistance (TAA) last week compounded Obama administration's suffering in pushing forward the Trans-Pacific Partnership (TPP), which has already caused controversies in the US and abroad. On the surface, Congress doesn't seem to have objection to TPP.