South East Asia

The ongoing instability in Afghanistan has far-reaching implications not only for its neighboring countries but also for the global community. As the country grapples with political turmoil, security challenges, and social unrest, the repercussions of this instability reverberate across regional and international borders.

This article delves into the multifaceted nature of Afghanistan’s instability and explores the various ways it poses a threat to its neighbors and the wider global community. From the rise of extremist groups to the potential spillover of violence and the displacement of populations, the consequences of Afghanistan’s instability demand attention and concerted efforts to address the complex challenges it presents.

In recent years, the Chinese Yuan Renminbi (RMB) has emerged as a popular form of exchange on the foreign currency markets in the Middle East. This arose as a direct result of the current global events that have shattered economies all across the world.

Daesh on Friday claimed responsibility for an explosion inside a mosque in northern Badakhshan province the day before.

This analysis provides a reassessment of dollar hegemony and power relations in the international monetary system.

Summary
Despite renewed predictions that dollar hegemony has reached its peak, the greenback continues to dominate global trade, finance and the reserve portfolios of central bankers around the world. But can high inflation, geopolitical tensions and the sanctions levied on Russia by the US and its allies dent its global dominance? Focusing on the impact of the COVID-19 pandemic, the war in Ukraine and the sanctions on Russia, and the ‘steep hike’ of interest rates by the Federal Reserve, this paper reassesses power relations in the international monetary system and analyses the state of dollar hegemony. It finds that, although the US dollar still reigns supreme, there are certain undercurrents that indicate the slow erosion of its global dominance and the gradual shift towards a multipolar currency order. To prevent, or at least slow down, the pace of further fragmentation, the West ought to re-evaluate the use of financial sanctions as a foreign policy tool and offer the Global South more voice in international monetary relations.

The Taliban’s ability to lead Afghanistan remains questionable and ongoing instability has provided the Islamic State the opportunity for expansion.

On April 25, 2023, U.S. officials confirmed that the Taliban had killed the head of the Islamic State (IS) cell operating in Afghanistan. Though his identity has not been revealed, the IS leader is believed to have masterminded the 2021 Kabul airport attack that killed 170 Afghan civilians and 13 U.S. military personnel.

The Taliban’s ability to lead Afghanistan remains questionable and ongoing instability has provided the Islamic State the opportunity for expansion.

On April 25, 2023, U.S. officials confirmed that the Taliban had killed the head of the Islamic State (IS) cell operating in Afghanistan. Though his identity has not been revealed, the IS leader is believed to have masterminded the 2021 Kabul airport attack that killed 170 Afghan civilians and 13 U.S. military personnel.

During the Second World War, the allied powers of the US, former Soviet Union, Great Britain, Germany, and France, being eminent winners in the war, laid the foundation of the United Nations and made international arrangements at the end of colonialism. Consequently, post-colonial nations emerged, and geographical boundaries were drawn for political and economic reasons to protect their interests in a future global order. Pakistan is one of those nation-states in post-colonial nationhood.