As China prepares its digital yuan for wider domestic and cross-border use, the global debate has turned again to a familiar question: is Beijing trying to challenge the US dollar’s dominance? But this misses the more consequential point. The significance of China’s digital currency push lies not in substitution, but in the transformation of the…
China’s trade surplus – the difference between the value of goods it imports and exports – has hit $1 trillion for the first time, a significant yardstick in the country’s role as “factory of the world”, making everything from socks and curtains to electric cars. For the first 11 months of this year, China’s exports…
The race to develop artificial intelligence has pushed governments and technology giants to build new electricity plants and upgrade their decades-old grid networks, creating significant opportunities for Chinese power equipment companies, according to analysts. Chinese firms have been benefiting from the spillover of a US order boom, which was driven by US President Donald Trump’s…
A senior Chinese diplomat indicated that talks aimed at easing tensions between China and Japan did not go well, suggesting the dispute over Prime Minister Sanae Takaichi’s comments on Taiwan is unlikely to fade soon. Liu Jinsong, director-general of the Chinese Foreign Ministry’s Asian Affairs Department, said he was “dissatisfied” with the result of his…
China’s cybersecurity agency accused the American government of orchestrating the theft about $13 billion worth of Bitcoin, representing China’s most recent attempt to attribute major cyberattacks to the US. The theft of the 127,272 Bitcoin tokens from the LuBian Bitcoin mining pool that took place in December 2020 marks as one of the largest crypto…
Chicago grains futures rose Monday on hopes the US may be nearing a compromise to end the longest government shutdown on record, restoring access to agricultural data. The possible compromise comes after the US Senate on Sunday advanced a deal to end the shutdown with the support of a group of moderate Democrats. The Senate…
Bundesbank President Joachim Nagel said he hopes that Europe can overcome trade difficulties with China, but should be ready to take firm action if necessary. “I think this retaliation question, I think at the end, it has to be decided by politics where we are going here, is retaliation the right strategy?,” he told the…
Beijing protested fresh delays to the UK’s decision on plans for a sprawling new Chinese embassy in central London, escalating a spat that threatens to derail Prime Minister Keir Starmer’s diplomatic reset. China expressed “grave concern and strong dissatisfaction” about the UK pushing a deadline on a final ruling for the project to Dec. 10,…
China tightened export controls for critical rare-earth metals on Thursday. The new restrictions were announced by the Chinese Ministry of Commerce, and come ahead of an expected meeting between Chinese President Xi Jinping and United States President Donald Trump’s later this month. The world’s two largest economies have been locked in trade negotiations aimed at…
(Bloomberg) — Vietnam clinched a long-awaited upgrade to emerging-market status from FTSE Russell, a shift that could attract billions of dollars in fresh capital for its financial markets. The country’s stocks will be included in FTSE Russell’s secondary emerging markets grouping, joining the likes of China, India and Indonesia. The upgrade from frontier status will…