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Category: China

Economist Peter Schiff: Complete Separation of US-China Economies Would Be ‘a Disaster for America’

Posted on November 11, 2023 By Caden
Economist Peter Schiff: Complete Separation of US-China Economies Would Be ‘a Disaster for America’

Economist Peter Schiff has warned that a complete separation of the Chinese and U.S. economies would be “a disaster for America, but a boon for China.” He explained: “Americans would be stuck with fewer goods and higher prices, while the Chinese would be rewarded with more goods and lower prices.” Peter Schiff on U.S.-China Decoupling…

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China, Chinese Economy, Dollar, Economics, Peter Schiff, US economy, US-China decoupling, us-china relations, USD

China Opens Digital Yuan Park in Shenzhen

Posted on October 13, 2023 By Caden
China Opens Digital Yuan Park in Shenzhen

Shenzhen has become home to an industrial park established to promote China’s central bank digital currency (CBDC). Several financial companies are already settling there, the Chinese megacity announced while unveiling almost a dozen initiatives to boost the digital yuan use in the region. Shenzhen to Invest $14 Million in 3 Years to Develop Digital Yuan…

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Blockchain, business park, CBDC, China, chinese, Digital Currency, Digital Yuan, e-CNY, Finance, Industrial Park, park, Payments, shenzhen, Smart Contracts

Chinese State-Owned Banks Cut Dollar Deposit Rates — Dismiss Government Influence Claims

Posted on June 9, 2023 By Caden
Chinese State-Owned Banks Cut Dollar Deposit Rates — Dismiss Government Influence Claims

Major Chinese state-owned banks have lowered interest rates on U.S. dollar deposits. However, they reportedly dismissed claims that the moves were influenced by the Chinese government, stating that the rate cuts were market-driven. Chinese Banks Reduce Dollar Deposit Rates Major Chinese state-owned banks reportedly cut the maximum interest rates they offer on U.S. dollar deposits…

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China, chinese banks, Chinese banks dollars, Economics, Federal Reserve rate hikes, U.S. dollar deposits, yuan deposits

Chinese Yuan Overtakes US Dollar as Most Used Currency to Settle Cross-Border Payments in China

Posted on April 27, 2023 By Caden
Chinese Yuan Overtakes US Dollar as Most Used Currency to Settle Cross-Border Payments in China

The Chinese yuan is now China’s most used currency for cross-border settlements. According to official data from the State Administration of Foreign Exchange, the Chinese yuan rose to be the most-used currency in March over the U.S. dollar, in a push from the Beijing government to internationalize its currency for payments. Chinese Yuan Used to…

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China, Chinese Yuan, cross-border payments, Economics, Nouriel Roubini, Ray Dalio, Russia, Swift, U.S. dollar

Controversial ‘Tiktok Ban Bill’ Sparks Concerns Among Cryptocurrency and Technology Advocates

Posted on March 29, 2023 By Caden
Controversial ‘Tiktok Ban Bill’ Sparks Concerns Among Cryptocurrency and Technology Advocates

Cryptocurrency and technology proponents have recently been discussing a new bipartisan bill called the “Restricting the Emergence of Security Threats that Risk Information and Communications Technology (RESTRICT)” Act. In addition to targeting firms such as Kaspersky, Huawei, and Tiktok, opponents of the bill believe one of its provisions will punish ordinary Americans for leveraging a…

Read More “Controversial ‘Tiktok Ban Bill’ Sparks Concerns Among Cryptocurrency and Technology Advocates” »

Americans, Balaji Srinivasan, ban, bill, Bipartisan, China, Coin Center, controversy, court challenge, Cryptocurrency, cryptocurrency space, cuba, David Covucci, Forums, Huawei, implications, Iran, Justin Amash, kaspersky, Mark Warner, National Security, national security concerns, News, north korea, overbroad, penalties, President, RESTRICT Act, Ron Paul, Russia, secretary of commerce, Social Media, technology, tiktok, United States, Venezuela, virtual private network, VPN, VPNs, Warner Spokesperson

Crystal Blockchain Study Reveals $16.7 Billion in Crypto Assets Stolen Since 2011

Posted on March 21, 2023 By Caden
Crystal Blockchain Study Reveals $16.7 Billion in Crypto Assets Stolen Since 2011

Crystal Blockchain, a company that provides blockchain data and analytics, published a study covering security breaches, fraud, and scams related to cryptocurrency and decentralized finance (defi). According to the study, approximately $16.7 billion in crypto assets have been stolen since 2011. Last year, Crystal’s intelligence team documented 199 incidents resulting in the theft of $4.17…

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Analytics, Blockchain, Blockchain Analysis, China, crypto exchange, Cryptocurrency, cryptocurrency mixing service, cryptocurrency theft, Crystal Blockchain, Cyber Security, cyberattacks, Cybercrime, decentralized finance, DeFi, Digital Assets, Ethereum blockchain, financial damage, Financial Technology, Fraud, Hackers, Money Laundering, News, nft, Ponzi scam, Ronin network bridge hack, rug pulls, Scams, security breaches, stolen assets, Tornado cash, United States

Central Banks Continue to Show Strong Demand for Gold in 2023, Says World Gold Council Report

Posted on March 5, 2023 By Caden
Central Banks Continue to Show Strong Demand for Gold in 2023, Says World Gold Council Report

Central banks show continued demand for gold in 2023, as per a recent report from the World Gold Council (WGC), which noted that the world’s central banks accumulated 31 tons of the precious metal in January. Turkey was the largest gold buyer, adding 23 tons to its central bank’s stash, while the People’s Bank of…

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2023, Assets, buyer, Central Banks, China, Demand, ECB, Economics, Economy, European Central Bank, Eurozone, financial, Global, gold, holdings, IMF, International Monetary Fund, investment, january, Kazakhstan, Krishan Gopaul, Markets, Metal, net buying, precious metal, Price, Purchases, Records, reserves, sales, seller, troy ounce, Turkey, U.S. dollar, Uzbekistan, WGC, World Gold Council

Russian Ruble Taps 7-Year High Against the US Dollar — Economist Says ‘Don’t Ignore the Exchange Rate’

Posted on June 21, 2022January 27, 2023 By Caden
Russian Ruble Taps 7-Year High Against the US Dollar — Economist Says ‘Don’t Ignore the Exchange Rate’

Recent news reports have detailed that Russia’s fiat currency, the ruble, was the best-performing currency worldwide and the articles explained that American economists were perplexed by the trend. On Monday, the Russian ruble rose to 55.47 per dollar, which was the highest increase since 2015. While many have dismissed the ruble’s exchange rate, Charles Lichfield,…

Read More “Russian Ruble Taps 7-Year High Against the US Dollar — Economist Says ‘Don’t Ignore the Exchange Rate’” »

Bank of Russia, Central Bank, Charles Lichfield, China, conflict, Crude Oil, cut rate, Economics, EU, Gas, India, interest rate, Martin Armstrong, OIL, Peace Talks, rouble, ruble, ruble crash, ruble falls, ruble plunges, Ruble Rises, Ruble strength, Russia, russia bank run, Russia Ruble, russian bank run, russian sanctions, Sanctions, Ukraine, Ursula Von Der Leyen, Vladimir Putin, War, Western Allies, Youtuber Jake Broe

Wechat to Prohibit Accounts From Providing Some NFT and Crypto Services

Posted on June 21, 2022January 27, 2023 By Caden
Wechat to Prohibit Accounts From Providing Some NFT and Crypto Services

Tencent’s Wechat intends to impose penalties on public accounts facilitating secondary trading of NFTs, a press report has revealed. Accounts offering transaction channels and guidance for cryptocurrencies have also been targeted by the new rule. Popular Chinese App to Impose Restrictions on NFT Trading Wechat, the instant messaging, social media, and mobile payment app developed…

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accounts, ban, China, chinese, Crypto, Cryptocurrencies, Cryptocurrency, nft, NFTs, policy, prohibition, Regulation, Regulations, Rule, rules, Services, tencent, Token, Tokens, trading, WeChat

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