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China’s got some big plans for our global economy

China’s got some big plans for our global economy

China is shaking things up, and not just a little. We’re talking major, earth-quaking shifts in the global economic landscape. Forget the old-school romance of international cooperation; China and the U.S. were never going to be prom king and queen. Right from the get-go, when China walked into the World Trade Organization (WTO) back in […]

BRICS nations explore creation of new currency unit to counter US Dollar dominance

BRICS

The BRICS alliance, comprising Brazil, Russia, India, China, and South Africa, is reportedly exploring the development of an alternative currency. This initiative aims to reduce the bloc’s dependency on the US dollar and promote the use of local currencies in international trade. With an eye on the future, the alliance also encourages other developing nations […]

China national prosecutor targets blockchain and metaverse crimes

China national prosecutor targets blockchain and metaverse crimes

The Supreme People’s Procuratorate of China, which is the country’s highest prosecutorial body, has flagged an alarming rise in cybercrimes facilitated by blockchain technology and within the metaverse environments. The use of cryptocurrencies in money laundering has been particularly troubling, obscuring the trail of illegal fortunes. A striking example unfolded in November 2020 when Hu […]

U.S. economy unfazed by China’s struggles

U.S. economy unfazed by China's struggles

The U.S. economy stands strong, unfazed by the economic terrors happening China, as stated by Wally Adeyemo, the U.S. Deputy Treasury Secretary, during a recent event in New York. Despite China grappling with its internal economic challenges such as an oversupply in manufacturing, aging demographics, and a declining business environment for private companies, Adeyemo remains […]

China Cracks Down on Crypto-Enabled Geopolitical Data Leaks

China Cracks Down on Crypto-Enabled Geopolitical Data Leaks

The Chinese Ministry of National Security (MNS) has issued a stark warning against a sophisticated scheme by overseas map companies designed to illicitly gather sensitive geopolitical data from Chinese users in exchange for cryptocurrency rewards.  The alarming trend poses a direct threat to national security, leveraging the allure of digital currencies to compromise critical infrastructural […]

Top 6 things to know about crypto and Bitcoin this week

Bitcoin

Bitcoin’s market dynamics and price movements continue to captivate crypto investors and enthusiasts alike. Open interest in Bitcoin futures markets has emerged as a significant indicator among the many factors influencing its price. This week, open interest is echoing a notable price level of $69,000 for Bitcoin, hinting at potential volatility ahead. Bitcoin could hit […]

BRICS set to crush G7 with jaw-dropping surge in millionaire count—here’s why

Brics

The BRICS alliance—comprising Brazil, Russia, India, China, and South Africa—is expected to experience a surge in the number of millionaires over the next decade. According to a comprehensive report by Henley and Partners, these nations are poised for an 85% increase in their millionaire count, significantly outpacing the projected growth in the Group of Seven […]

China sees consumers cut spending amid price decline

China consumers

Amid a backdrop where price tags on everything from electric vehicles to luxury goods are sliding, the citizens of China, the globe’s second-largest economy, are tightening their belts. Not even the temptation of lower prices is enough to pry open the wallets of a population increasingly wary of economic uncertainties. This provides a glimpse into […]

Ethiopia emerges as a key destination for cryptocurrency mining operations

Ethiopia emerges as a key destination for cryptocurrency mining operations

Chinese Bitcoin miners have set their sights on Ethiopia, marking a significant shift towards the Horn of Africa as a new hub for their operations. This pivot comes in the wake of stringent regulations and rising electricity costs in other parts of the world, with Ethiopia emerging as a particularly attractive destination due to its […]

The global impact of China’s deflation export

The global impact of China's deflation export

As the gears of the global economy grind and groan under the weight of various pressures, one player has been particularly noteworthy for sending ripples – or rather, waves – across the world’s financial seas. China, a titan in the realm of export, has been on a rollercoaster that’s not just internal but is spilling […]

China’s AI Integration Boosts Military Might, Sets New Surveillance Standard

china

China has introduced a groundbreaking advancement in military technology, claiming to have developed a highly sophisticated artificial intelligence (AI)-enabled spy device designed to revolutionize battlefield surveillance.  The unveiling of this electronic warfare technology by Chinese scientists signals a significant leap forward in the realm of military intelligence gathering. China AI-enhanced PLA device offers unparalleled battlefield […]

China’s economy now under even more pressure because of this

China

The dragon’s breath seems to be faltering as China’s economic engine hits a snag, facing pressures from multiple fronts that could spell trouble for its future growth. With the consumer price index taking a nosedive at an alarming rate not seen in over a decade, the red flags are waving more vigorously than ever, pointing […]

U.S. fixes relationship with El Salvador – And the plan?

U.S. fixes relationship with El Salvador - And the plan?

The diplomatic landscape between the United States and El Salvador has undergone a significant transformation, marked by a strategic pivot in the United States’ approach to mending fences with El Salvador. This shift comes in the wake of President Nayib Bukele’s emphatic re-election, signaling a new chapter in the bilateral relations between these two nations. […]

China’s stock meltdown sparks Bitcoin Frenzy – What you need to know

China

China’s stock market recently experienced a significant crash, with stocks plummeting by 8% in a matter of hours. This event has raised concerns and implications not only for the domestic financial landscape but also for the global crypto market, particularly Bitcoin.  As China’s crisis unfolded, five key aspects emerged that shed light on the broader […]

Global investors wary of China’s equity market – Why?

Global investors wary of China's equity market - Why?

The tremors shaking the foundation of China’s equity market have escalated into a full-blown quake, casting a long shadow of doubt over the financial landscape. The once-bustling trade floors and optimistic market forecasts now seem like relics of a bygone era, as the dragon economy faces an onslaught of challenges that have left investors biting […]

UAE, China break ground with $13m in CBDC transaction

UAE and China CBDC

A groundbreaking financial maneuver has just unfolded as the United Arab Emirates and China marked a significant milestone in the realm of digital currency, executing a cross-border transaction that didn’t just whisper but roared a challenge to the traditional hegemony of the dollar in Asia. This historic transaction, utilizing the mBridge infrastructure, saw the exchange […]

The surprising resilience of cryptocurrencies in China

China and crypto

Cryptocurrencies in China have been like that one guest at a party who wasn’t invited but shows up anyway, and not only do they refuse to leave, but they also end up being the life of the party. Despite the government’s best efforts to turn the lights off and shoo everyone away, crypto has clung […]

China prepares to introduce crypto AML laws by 2025

China

In a decisive move to strengthen its Anti-Money Laundering (AML) laws, China is set to include cryptocurrency-related transactions in its regulations. This development, marked as the first significant amendment since 2007, was deliberated in a recent State Council executive meeting chaired by Prime Minister Li Qiang on January 22. The initiative highlights China’s commitment to […]

China’s strategic $3.5 billion investment in Brazil bolsters BRICS alliance: Details

brics

China has announced a substantial investment of $3.5 billion into Brazil, a fellow BRICS nation. This investment, primarily targeting Brazil’s mining sector, marks a crucial step in strengthening the cooperation within the BRICS alliance, particularly between China and Brazil. The move comes on the heels of China achieving a record share of Brazilian agribusiness exports […]

China’s securities regulator suspends lending of restricted shares

China's securities regulator suspends lending of restricted shares

China’s Securities Regulatory Commission (CSRC) has suspended lending restricted shares, effective January 29. This decision came after significant market declines and aimed to foster a more equitable trading environment. Restricted shares, commonly allocated to employees or specific investors under sale limitations, can be loaned for trading purposes, including short-selling. This practice has been identified as […]

China’s rising crypto trend defies government restrictions

China

Chinese residents are increasingly turning to cryptocurrencies like Bitcoin (BTC) as a means of investment despite the strict ban imposed by the mainland government. With the economic downturn in China fueling uncertainty and risk in domestic investments, many Chinese citizens are finding inventive ways to convert their savings into digital assets. Surge in cryptocurrency investments […]

China strengthens oversight on offshore investment funds

China strengthens oversight on offshore investment funds

Amid a tumultuous financial landscape, China has decided to grip the reins tighter on capital maneuvering beyond its borders, particularly focusing on offshore investment funds. This strategic move comes as a countermeasure to the relentless market downturn that has left investors and regulators alike scrambling for stability. China Navigating Through Capital Control Waters China’s financial […]

China Central Bank to cut reserve ratio, inject 1 trillion Yuan to boost economy

CHINA

The People’s Bank of China (PBOC) has announced a significant reduction in the reserve requirements ratio (RRR) for all banks by 50 basis points, scheduled to take effect on February 5, 2024. However, this decisive move aims to bolster the Chinese economy amid a turbulent stock market. This bold step is set to infuse a […]

China takes action to bolster yuan amid stock market turmoil

China takes action to bolster yuan amid stock market turmoil

As the world turns its eyes to China amidst a tumultuous period in the stock market, the country’s major state-owned banks have leaped into action. Their mission? To staunch the rapid descent of the yuan and bring some semblance of stability to the currency market. This move comes in the wake of a significant downturn […]

Breaking down the complicated Germany-China relationship

Germany and China

The dynamics of international relations are seldom black and white, and nowhere is this more evident than in the intricate dance between Germany and China. A relationship that was once perceived as a win-win scenario is now under the microscope, with Germany reassessing its stance towards a nation that has been its top trading partner […]

China collaborates with Huawei and other tech giants to pioneer metaverse development

China collaborates with Huawei and other tech giants to pioneer metaverse development

In a significant move to shape the future of the metaverse industry, China’s Ministry of Industry and Information Technology (MIIT) has established a dedicated working group. This initiative, announced on January 19, marks a concerted effort by the world’s second-largest economy to standardize and drive growth in this emerging sector. The task force, comprising government […]

China’s tech leaders unite for metaverse sector development

China

In a significant move to standardize and propel the growth of the metaverse sector, China has established a dedicated working group. This initiative, spearheaded by the Ministry of Industry and Information Technology (MIIT), marks a concerted effort by the world’s second-largest economy to steer the development of this emerging industry. Metaverse sector gains momentum with […]

China’s crypto space thrives in laundromats and cafes despite the ban 

China

Thursday’s Wall Street Journal (WSJ) report details how crypto users in China are conducting transactions in commonplace locations in order to circumvent the country’s prohibition on cryptocurrencies. According to sources with knowledge of the transactions that the WSJ quoted, traders convene in public areas, including snack kiosks, cafés, and launderettes in order to exchange wallet […]

The main causes of China’s demographic crisis

china

China is currently facing a demographic crisis of unprecedented scale. The country, known for its rapid economic growth and massive population, is experiencing a significant decline in its birth rates. In 2023, births in China plummeted to a record low, intensifying concerns about the nation’s aging population and its future economic stability. This demographic shift […]

China’s double trouble: Population decline amid economic woes

China's double trouble: Population decline amid economic woes

China, the world’s second-largest economy, is currently grappling with a unique set of challenges. As 2023 unfolded, the nation witnessed a concerning acceleration in population decline, coinciding with some of the slowest economic growth rates in recent decades. These twin troubles – a demographic downturn and economic strain – are raising red flags about the […]

Why is Wall Street so terrified of China?

wall street and china

Wall Street’s largest financial institutions have recently adopted a cautious approach to taking Chinese companies public, a shift driven by an intricate dance of appeasing Beijing while navigating global market dynamics. This cautiousness stems from a significant, albeit subtle, alteration in the language used in IPO prospectuses, especially in the context of risk disclosures. But […]

China’s economic growth rate: The need for speed

china

China’s economic engine, often compared to a high-speed train, is at a pivotal juncture. As Beijing gears up to release its fourth-quarter GDP data, the world is watching with bated breath. After a series of lackluster performances, China’s economic narrative is at a crossroads. Will the dragon regain its fiery growth, or are we witnessing […]

China’s debt crisis continues to escalate

China

In an economic landscape reminiscent of Japan’s descent into stagnation in the early 1990s, China is currently facing a similar trajectory, albeit under different circumstances. A former adviser to China’s central bank, Li Daokui, has brought to light the staggering scale of debt accumulated by local Chinese authorities, a figure much higher than previously estimated. […]

Why are China’s biggest banks coming after the small ones?

china

In the complex financial ecosystem of China, a striking phenomenon is unfolding: the country’s largest banks are tightening their grip on smaller financial institutions. This move, stemming from a deepening property debt crisis and local government debt, is reshaping China’s banking landscape. As the world’s second-largest economy grapples with these issues, the actions of these […]

Xi Jinping’s cryptic economic agenda fuels confusion

China's Xi Jinping

As President Xi Jinping trumpets the march towards “high-quality development” in China, a cloud of ambiguity hovers over the global economic landscape. This increasingly used but enigmatic term has become Xi’s mantra, echoed incessantly in speeches, but its practical implications remain as clear as mud. The world is left scratching its head: What exactly is […]

Baidu’s AI Sensation – Ernie Bot Surpasses 100 Million Users in Under 6 Months

Ernie Bot

In a groundbreaking achievement for the Chinese tech giant Baidu, its artificial intelligence (AI) chatbot, Ernie Bot, has swiftly amassed an impressive user base, surpassing the remarkable milestone of 100 million users within a mere six months of its launch. This revelation came to light during a generative AI summit in Beijing, where Baidu’s CEO, […]

China’s Push for AI-Powered Humanoid Robots Raises Global Concerns

AI-Powered Humanoid Robots

China’s rapid advancements in artificial intelligence (AI) are now extending into humanoid robotics. The Chinese Communist Party has embarked on a mission to develop and deploy AI-powered humanoid robots to bolster its manufacturing sector and address the challenges an aging population poses. As this technology matures, questions about global implications and the preparedness of other […]

Wall Street’s China dreams hit a roadblock – So now what?

Wall Street and China

Wall Street’s ambitions in China have recently encountered significant headwinds, compelling major financial institutions to recalibrate their strategies. Amidst heightened geopolitical tensions and stringent regulatory landscapes, the dreams of Wall Street powerhouses are being reshaped, signaling a shift in the global financial paradigm. This change is not just about compliance and regulation; it represents a […]

China’s top newspaper calls for government to kill crypto

China's Legal Daily

China’s most influential legal newspaper, Legal Daily, published by the Chinese Communist Party’s (CCP) Central Commission for Political and Legal Affairs, has issued a clarion call for a more stringent crackdown on cryptocurrency, emphasizing its use in corruption and bribery. This demand aligns with China’s ongoing battle against corruption, reflecting the government’s unwavering stance on […]

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