Nestled within the expansive desert of northwest China's Gansu Province, the ancient city of Dunhuang is a magnet for visitors, drawn by the mesmerizing beauty of the renowned Mingsha Mountain and Crescent Spring scenic spot.
The Yueya Spring, a crescent-shaped lake ensconced among colossal dunes at the foot of the Mingsha Mountain, also known as the Singing Sand Mountain, has been a cherished tourist attraction since the Han dynasty (202 BC-AD 220). Its lunar-like shape inspired its name while its extraordinary characteristic of remaining untouched by the encroaching singing sand dunes, neither buried nor dried up, enhances its allure.
Situated a mere 5 kilometers from the heart of Dunhuang city, the Singing Sand Mountain scenic area is an irresistible destination for tourists.
To experience the enchanting beauty of the spring from a novel perspective, many opt for an exhilarating glider or helicopter ride.
The name "singing sand dune" is derived from a unique phenomenon: as you slide down the sand, the friction creates a melodious tune, making it seem as if the dune itself is serenading you.
Transporting tourists back in time to the age of the ancient Silk Road, camel rides offer an immersive experience. Traders have used camels for thousands of years to traverse the desert and transport their goods, a tradition that continues to this day.
The magic of Dunhuang extends beyond its natural wonders. It's not uncommon to encounter fairies or princesses of the Western Regions. A female tourist, dressed as an 'apsara' (fairy) from Dunhuang murals for her road trip, described the experience as "great fun."
Beyond the enchanting desert lake, the Singing Sand Mountain unfolds a tapestry of other scenic spots, including an ancient temple that chronicles the millennia-long prosperity of Dunhuang city.
The timeless allure of this desert landscape resonates in the famous Chinese poem: "In boundless desert, lonely smokes rise straight; over endless river the round sun sinks." Watching the sunset over the dune, visitors may gain a deeper appreciation of the profound aesthetic sensibility of the ancients.
Rich history, natural wonders of ancient desert city attracts many visitors
Scholars and officials from around the globe have called on countries to reduce their dependency on U.S. dollar by diversifying reserve currencies in their baskets following the Federal Reserve's announcement of a 0.5-percentage-point interest rate cut.
The U.S. Federal Reserve on Wednesday slashed interest rates by 50 basis points amid cooling inflation and a weakening labor market, marking the first rate cut in over four years.
This signals the start of an easing cycle. Starting from March 2022, the Fed had raised rates consecutively for 11 times to combat inflation not seen in forty years, pushing the target range for the federal funds rate up to between 5.25 percent and 5.5 percent, the highest level in over two decades. As the dollar has become a financial weapon of the U.S., whether a tightening cycle or an easing cycle that the Fed kicks off, it would bring a lot of turmoil to the world economy, said the experts.
"I think the world has actually been hit a lot in the recent years by the appreciating U.S. dollar, which in recent times has reached all time high over 20 years. All time high, countries will have to spend more money to buy U.S. goods and services. It also affects the cost of borrowing from other businesses in the world. So, in the double way, I think the world has been hit. When suddenly, they want to lower the interest rate, the world is now actually caught in this very high level of frustration. Businesses just don't know what to do. So I think, in essence, what is very important, what is very important is that countries in the world will have to reduce their dependence on the U.S. dollar, especially in Asia. We have to diversify their currency dependency, perhaps moving to Asian currencies, perhaps moving to a basket of currency that's less heavily weighed on the U.S. dollar," said Lawrence Loh, director of the Center for Governance and Sustainability at the National University of Singapore.
"The United States Federal Reserve's interest rate cuts, it brings shock to the economy, and especially developing countries that have been coming out from the COVID-19. For many years, the dollar has been weaponized by the United States against the developing nations, including Africa and all other developing countries. So therefore, that weaponization is what Africa must resist with alternatives to trade in our own local currencies," said Tshilidzi Bethuel Munyai, a member of the National Assembly of South Africa.
Ignacio Martinez Cortes, a professor of international relations at the National Autonomous University of Mexico, called on developing countries to enhance domestic markets and stabilize their economies as the Fed's interest rate cut may lead to a currency run.
"Following the Fed's interest rates cut, the U.S. economic growth will accelerate, which in turn will trigger a run on the currency. I think when the Fed cuts interest rates, it will trigger a run on the U.S. dollar. In this case, what they (developing countries) need to do is to strengthen the internal market and achieve economic stability by expanding domestic demand," he said.
Experts urge less dependence on USD to offset Fed interest rate cut
