When the world gets closer.

We help you see farther.

Sign up to our expressly international daily newsletter.

Already a subscriber? Log in .

You've reached your limit of one free article.

Get unlimited access to Worldcrunch

You can cancel anytime .

SUBSCRIBERS BENEFITS

Exclusive International news coverage

Ad-free experience NEW

Weekly digital Magazine NEW

9 daily & weekly Newsletters

Access to Worldcrunch archives

Free trial

30-days free access, then $2.90
per month.

Annual Access BEST VALUE

$19.90 per year, save $14.90 compared to monthly billing.save $14.90.

Subscribe to Worldcrunch
Kazakhstan

New Monday, New World: Russia Is In Charge

In Kazakhstan's capital Astana
In Kazakhstan's capital Astana

Well that was quite a first weekend. After Donald Trump's inauguration on Friday, an estimated two million people took to the streets worldwide to protest against the controversial new president, who continued his open warfare with the American press — and some would say, with the truth itself. Now, he faces a first work week at the Oval Office that promises to be no less hectic, as he starts rolling out his plan for his first 100 days, before welcoming British Prime Minister Theresa May on Friday.

But even for the man who promised to put "America first," the most important event of his first Monday in office, which could shape his whole presidency, is taking place halfway across the world, in the capital of Kazakhstan.

Representatives of the Syrian government and of the rebellion are gathering today in the city of Astana for peace talks brokered by Russia, together with Turkey and Iran. While the long-term goal is to bring back peace to Syria and initiate a political transition, French reporter Georges Malbrunot writes in Le Figaro that the immediate objective in Astana is to reinforce a fragile ceasefire agreed on Dec. 29.

But for Moscow, the summit also takes on a strategic dimension. Any positive outcome from Astana will resonate as a diplomatic victory for the Kremlin, and like yet more evidence of the American hegemony's demise. The timing and setting could not be better for Vladimir Putin's Russia. Out with an Obama administration that has stood in the way of its interests. Out with the old world's summits in places like Vienna and Geneva, replaced by the futuristic, shiny capital of a former Soviet state. What it all suggests is plain to see: In the Middle East, at least, America is no longer first.

You've reached your limit of free articles.

To read the full story, start your free trial today.

Get unlimited access. Cancel anytime.

Exclusive coverage from the world's top sources, in English for the first time.

Insights from the widest range of perspectives, languages and countries.

Economy

How A Xi Jinping Dinner In San Francisco May Have Sealed Mastercard's Arrival In China

The credit giant becomes only the second player after American Express to be allowed to set up a bank card-clearing RMB operation in mainland China.

Photo of a hand holding a phone displaying an Union Pay logo, with a Mastercard VISA logo in the background of the photo.

Mastercard has just been granted a bank card clearing license in China.

Liu Qianshan

-Analysis-

It appears that one of the biggest beneficiaries from Chinese President Xi Jinping's visit to San Francisco was Mastercard.

The U.S. credit card giant has since secured eagerly anticipated approval to expand in China's massive financial sector, having finally obtained long sought approval from China's central bank and financial regulatory authorities to initiate a bank card business in China through its joint venture with its new Chinese partner.

For the latest news & views from every corner of the world, Worldcrunch Today is the only truly international newsletter. Sign up here.

Through a joint venture in China between Mastercard and China's NetsUnion Clearing Corporation, dubbed Mastercard NUCC, it has officially entered mainland China as an RMB currency clearing organization. It's only the second foreign business of its kind to do so following American Express in 2020.

The Wall Street Journal has reported that the development is linked to Chinese President Xi Jinping's meeting on Nov. 15 with U.S. President Joe Biden in San Francisco, part of a two-day visit that also included dinner that Xi had with U.S. business executives.

Keep reading...Show less

The latest