The yuan has replaced the euro to become the second most widely used currency in global trade in 2013, according to the SWIFT network responsible for international financial transactions. The share of the yuan in global trade finance has jumped from 1.89 percent in January 2012 to 8.66 percent in the form of letters of credit and collections in October 2013, the Society for Worldwide Interbank Financial... 

Chinese sailors march pass the Russian destroyer Admiral Vinogradov berthed at a naval base in Qingdao, northeastern China on April 23, 2012 President Vladimir Putin has said Russia will cement its military alliance with China, including an increase in joint exercises in the Asia-Pacific. The move follows a US pledge to step up its naval presence in Asia in a bid to extend its influence. “Recently... 

The US is set to reposition its Navy fleet with the majority of its warships to be assigned to the Asia-Pacific by 2020. But this military strategy has nothing to do with US-Chinese rivalry in the region, the defense secretary assures. ­The US would reposition its Navy so that 60 per cent of its warships would be assigned to the Asia-Pacific region by 2020, compared to about 50 per cent now, US Defense... 

US defense secretary Leon Panetta said America needs to increase its military role in the Asian Pacific, restating Washington’s concern over the reality of China’s rapidly developing military influence. “That reality is inescapable for our country and for our military, which has already begun broadening and deepening our engagement throughout the Asia-Pacific,” Panetta said. On... 

US Marines Corps About 200 United States Marines have arrived in Australia for a six-month deployment in the Northern Territory, as part of plans to expand the US military presence in the Asia-Pacific. According to a US Marine Corps spokesman, the first of 2,500 Marines, who entered the northern Australian city of Darwin late Tuesday, are expected to engage in exercises with the Australian Defense... 

US-China relations can only be expected to worsen as the US expands its influence in Asia. Obama says US influence will turn from the Middle East towards the “vast potential of the Asia-Pacific region”. When it comes to China policy, is the Obama administration leaping from the frying pan directly into the fire? In an attempt to turn the page on two disastrous wars in the greater Middle...