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Week In Review
Shawwal 23, 1441 to Shawwal 29, 1441
(2020-06-15 to 2020-06-21)

In this section, Crescent International will highlight news and events that do not attract much media Attention. We will provide our brief analysis. Hyperlinked references will be provided for confirmation, corroboration and crediting purposes.

Shawwal 27, 14412020-06-19

Economic war against Iran not achieving its goals

The recently released report of the World Bank (WB) titled Global Economic Prospects, forecasts that Iran’s economy would return to the positive economic growth zone in 2021 by growing 2.1 percent.

While economic reports are frequently guestimates rather than accurate analysis, the fact that the World Bank does not believe that Iran’s economy is going to experience severe hardship due to Western sanctions and the COVID-19 related issues is a sign of Iran’s economic resilience.

When Western economists and institutions report on Iran’s economic conditions, they often purposefully reduce the effects of sanctions to a minimum in order to peddle the narrative of “incompetent” Islamic governance.

The latest WB report, when analyzed in a broader context is a sign that the economic war against Islamic Iran is failing just as the geopolitical war is.

Western economic outlook, like its political outlook has been wishfully predicting the collapse of the Islamic system in Iran for the past 40 years and they have been continuously proven to be inaccurate.

Courtesy: World Bank, PressTV.

Shawwal 27, 14412020-06-19

Denmark summons Saudi ambassador over links to terrorism

On June 11 Iran’s Press TV reported that the Saudi ambassador to Denmark has been summoned to the Foreign Ministry of Denmark over allegations Riyadh offered support for a terrorist group which was behind the deadly 2018 attack in the Iranian city of Ahvaz, provincial capital of the Arab-majority Khuzestan province.

In February 2020, PET (The Danish Security and Intelligence Service) chief Finn Borch Andersen, declared that three people have been detained for spying for the Saudi Arabian intelligence services and were involved with the terrorist outfit named Arab Struggle Movement for the Liberation of Ahvaz (ASMLA).

It appears that Western powers are losing patience with the despotic regime in Riyadh as their cash runs out.

Courtesy. www.middleeastmonitor.com

Shawwal 27, 14412020-06-19

Britain’s bleak economic future

On June 12, Asia Times reported “Britain’s battered economy shrank by a record 20.4% in April from the previous month as the coronavirus lockdown ravaged businesses.”

Britain’s economic outlook was already viewed pessimistically by many economists after the UK voted to leave the European Union. The latest data will further undermine confidence in Britain’s economic future.

On May 30, the EU proposed a record-breaking $826 billion stimulus package to ease Europe's economic pain from the coronavirus.

As the UK is no longer part of the EU, London is unlikely to receive any benefits from the recent EU stimulus package.

The EU politicians will most probably make sure that Britain does not benefit from the $826 billion indirectly either, in order to disincentivize others from leaving the EU.

Courtesy: Asia Times  

Shawwal 27, 14412020-06-19

West-China Tensions to Continue

On June 14, Asia Times published an analysis looking at obstacles to China’s expanding influence in the Indo-Pacific region.

In its analysis, the paper looked at economic obstacles that China faces in the Indo-Pacific region.

Topping the list is EU’s growing bilateral trade agreements with Vietnam which could possibly be concluded with other Asian countries as well.

While Western powers can utilize various trade mechanisms to stall China’s influence in the Indo-Pacific region, Beijing enjoys geographic and cultural advantage in the region.

Also, two weeks ago EU’s High Representative for Foreign Affairs Josep Borrell called for a “big, positive agenda for EU-China cooperation” and rejected siding with the US in its rivalry with China.

China-US rivalry is likely to escalate as Washington’s global influence continues to decline, a scenario which will further contribute to the establishment of the multi-polar global order.

Courtesy: Asia Time.  

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