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Swap It, Don’t Break It Imagine you are China. You sell a lot of stuff to the world. In fact, your whole economy is based on selling things to the world. You have an incentive to make trade as smooth as possible with other countries especially when it comes to making payments. But you have another dilemma. You are not a wholly open economy. You like to control your currency as much as you can to make it undervalued in a way that benefits your manufacturers. If you let the currency trade freely like the dollar or Pound, the market will probably value it higher than you want which will make your products more expensive. So, the way you can achieve this is by tightly controlling the amount of your currency that is available around the world. Unlike the US dollar that is widely available around the world to the extent that countries like Ecuador can decide to adopt the dollar as their currency without getting permission from the US, you can’t do that with the Chinese Yuan. These ...

Pan-Yoruba sociopolitical group, Afenifere, has rejected the Grazing Commission Bill proposed by the National Assembly to address the burning issue of farmers and Fulani herdsmen clashes erupting in different parts of the country. Afenifere described the bill as “anti-people.” The bill proposes the establishment of the National Grazing Commission which will preserve and control the national grazing reserves and livestock routes and other matters related to it. The group’s leader, Reuben Fasoranti, while addressing journalists in Akure, said the bill, which empowered the commission to acquire any land anywhere in the country, would violate the subsisting Land Use Act and traditional means of land holding if enacted. He noted that the bill was being proposed allegedly to favour the business of the Fulani herdsmen at the expense of the farmers whose farms were always destroyed by the Fulani’s cows in some other parts of the country . ” We reject any law that would rob the citize...