65 • China establishes yuan-rubble payment system • Putin green lights launch of the Crypto- Ruble • Russia announces future issue of Ruble Cryptocurrency • China has grand plans to dethrone the dollar In November, Russia announced plans to sell Yuan Bonds. • Russia Plans First-Ever Sale Of Yuan Bonds Also in November, the Russian Security Council directed the Russian government to develop an independent Internet for the BRICS. • Russia to launch independent Internet for BRICS nations Four of the five BRICS nations – Brazil, Russia, China and South Africa – are major gold pro- ducers. In December 2017, the BRICS moved forward with a gold trading system. • Bank of Russia signs MOU with China on developing joint gold trading system with first implementation steps in 2018 • Russia, China, India Unveil New Gold Trading Network During December, President Trump published a new national security policy, which emphasized increased tensions and competition with Russia and China. • A New National Security Strategy for a New Era December also saw the US pass tax reform ex- pected to repatriate trillions in cash and corpo- rate operations back to the United States. Both China and Russia responded. • Russia Responds to Trump Tax Reform • China Eliminates Taxation for Foreign Companies Investing in China While Russia and China were building financial independence, they continued to build global economic ties and allies around the world. • China Pledges $124 Billion for New Silk Road as Champion of Globalization • China Pumps Billions into Iranian Economy as Western Firms Hold Off • Venezuela Signs $3.2 Billion Debt Restruc- turing Deal With Russia • Russia ready to help Japan clean up Fukushi- ma disaster • Russia Looks to Become Leading Organic Food Exporter as Europe sees Future in GMO Throughout the year, India maintained closer ties to the United States, helping to lead the way to a cashless society. Great for the Internet and software firms, this move was a harsh one for the Indian people. • Cashless India What’s ahead in 2018? Expect the great unrav- eling to continue as the US, China, and Russia compete more aggressively for capital, global market share, and soft power influence as Asia continues to grow and build out space, satellite, naval capacity, and transportation and trade linkages across Eurasia. As the New Year begins, Bloomberg reports that China may slow or halt the purchase of US Treasuries (China denies) and the US has blocked Jack Ma’s bid for Moneygram. • China Weighs Slowing or Halting Purchase of Treasuries • China Calls Earlier Report Fake News • US Blocks Moneygram Sale to Alibaba Boss Over China Security Concerns Despite sanctions and low oil prices, Russia has successfully maintained very low levels of debt. China, however, has borrowed significantly, in- cluding in dollars. How China manages its debt will have significant global implications, partic- ularly if the United States aggressively insources manufacturing and other global operations. • China’s Debt Battle has Global Growth at Stake The convergence of Asian per-capita incomes with G-7 levels will be one of the defining investment and economic trends of the next two decades. Watch for it in the news throughout 2018. US Blocks Moneygram Sale to Alibaba Boss, Jack Ma, Over China Security Concerns.