[Manish Rai] Iranian currency, Rial, has lost 40% value since May when Donald Trump pulled out of Iran deal and announced sanctions. Now Rial is one of the most worthless currency on earth. What’s more, Iran is experiencing its worst drought in 50 years, leaving electricity output from hydropower plants at a bare minimum. Capital outflow surpassed the inflow. Last year, Iran had a capital account deficit of $11 billion and unemployment is above 11%. All these numbers indicate that Iran’s economy has become fragile and is quickly moving into a death spiral.
Tag: Iran nuclear deal
Understanding the Chinese Approach to Gulf Affairs
[Muhammad Zulifikar Rakhmat] China’s expanding role in the Gulf during recent years has prompted much analysis, from both inside and outside the PRC. While these studies have enriched our understanding to a certain extent, they often fail to provide a sufficiently nuanced interpretation. A more comprehensive approach is necessary. The existing literature on China-GCC relations frequently … Continue reading Understanding the Chinese Approach to Gulf Affairs
The Iran Nuclear Agreement is not Worth Saving
[Daniel Wagner] The US made its position on Iran deal perfectly clear and soon Europe’s position will be as well. It is now up to the Iranians whether the Iran deal continues to exist, or a new, improved agreement is ultimately crafted.