Grounded warship in the Philippines, China-led de-dollarisation gains traction: 6 weekend reads you may have missed
- From China’s de-dollarisation calls gaining steam to word play over Philippines’ grounded warship, here are stories you may have missed over the weekend
1. Did the Philippines ever agree to move its grounded South China Sea warship?
China says Manila reneged on its promise to remove the BRP Sierra Madre from Second Thomas Shoal, but a former Philippine defence chief disagrees. His comments suggest a degree of word play to keep the Chinese at bay, in an apparent tit-for-tat at China’s seizure of Mischief Reef in 1995.
2. ‘De-dollarisation’ gains traction among emerging economies ahead of Brics meet
The American dollar’s dominance in global trade looks to be challenged by the expansion of an economic bloc involving China, according to research by ING that comes as talk of a currency union has turned heads in the lead-up to next week’s Brics summit.
3. Singapore set for three-way presidential contest on September 1
Singapore’s first presidential poll since 2011 will take place on September 1 and will be contested by three candidates after they were certified by authorities as being eligible to hold the largely ceremonial post. Singapore’s president wields some veto powers on the appointment of key bureaucrats and the use of the city state’s deep fiscal reserves.