Yearender: Xinhua's top 10 world news events in 2021

Yearender: Xinhua's top 10 world news events in 2021

(211230) -- BEIJING, Dec. 30, 2021 (Xinhua) -- Photo taken on March 24, 2021 shows the giant cargo container trapped on the Suez Canal of Egypt. Xinhua's top 10 world news events in 2021 Suez Canal blockage exposes fragility of world economy On March 23, a large container ship ran aground at the Suez Canal and blocked the waterway. The flow of about 12 percent of world trade volume came to a halt. The fragility of the world economy was exposed this year. Bottlenecks on logistics and soaring freight rates disrupted global supply chains, and industrial chains were hit by chip shortages and rising commodity prices. Heavier debt, combined with an influx of liquidity, exacerbated the volatility of financial markets. The economic recovery from the COVID-19 pandemic was unbalanced. The gap between the rich and the poor widened, and so did the huge development gap. In the face of the p.....

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      (221230) -- BEIJING, Dec. 30, 2022 (Xinhua) -- This photo taken on April 20, 2022 shows the U.S. Federal Reserve in Washington, D.C., the United States. Xinhua's top 10 world news events in 2022 Fed's aggressive rate hikes scourge global economy The U.S. Federal Reserve raised interest rates by 25 basis points on March 16 to stem a surge in inflation, beginning its new round of rate-hiking cycle. Throughout this year, the Fed has raised interest rates seven times in a row, with a cumulative increase of 425 basis points. The Fed's aggressive rate hikes have caused the exchange rates of many currencies to fall to historic lows, the imported inflationary pressure to increase sharply, the risk of debt default to rise, and the financial markets to swing wildly. The U.S. tightening of liquidity has pulled up the exchange rate of the U.S. dollar and transferred the crisis outward, which has led to the tightening of global financial conditions and the slowdown of world economic growth, wreaking havoc on
        XINHUA-PICTURES OF THE YEAR 2021-WORLD NEWS

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        (220106) -- BEIJING, Jan. 6, 2022 (Xinhua) -- Photo taken on March 29, 2021 shows the container ship Ever Given moving on the Suez Canal, Egypt. The traffic in Suez Canal resumed after massive container ship Ever Given has been successfully refloated as being stranded in the canal for almost a week, Egypt's Suez Canal Authority (SCA) said on March 29, 2021. Linking the Mediterranean Sea with the Red Sea, the Suez Canal is a major lifeline for global seaborne trade. Some 12 percent of the world trade volume passes through the Suez Canal. (Xinhua/Wu Huiwo)