News Analysis Beijing announced on Dec. 9 the issuance of 750 billion yuan (about $108 billion) worth of special sovereign bonds aimed at stimulating the Chinese economy. Experts believe the move indicates that China faces a looming economic crisis, but it could give “local governments some breathing space” from their massive expenditures under the zero-COVID…
China’s $108 Billion Bond Sale Indicates Looming Economic Crisis: Experts
December 15, 2022
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Hong Kong and China Upgrade Currency Swap Line, Allowing Beijing Access to Foreign Currency Reserves
July 13, 2022
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Nearly 30 percent of Hong Kong’s foreign currency reserves are now accessible to Beijing after the People’s Bank of China (PBC) and Hong Kong Monetary Authority (HKMA) upgraded their currency swap line on July 4. Upgrading the currency swap line to a standing arrangement was one of two new policies announced by the PBC and…
Big Brother Is Getting Bigger
“This is a surveillance tool, and it’s disguised as a payment mechanism,” Erik Bethel said of the Chinese regime’s new digital currency. In this episode of “American Thought Leaders,” host Jan Jekielek and Bethel, a global finance analyst, discuss the situation in China, and the threat of the digital yuan to the U.S. economy and to…
China Cuts Key Interest Rates as Economic Growth Wanes
January 17, 2022
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China has unexpectedly cut rates on policy loans for the first time since April 2020 in the face of lowered economic performance owing to critical power shortages, defaults in the property market, a crackdown on major companies, and repeated COVID-19 outbreaks. The interest rate on 700 billion yuan ($110.2 billion), one-year, medium-term, lending facility (MLF)…
Squid Game Cryptocurrency Collapses in Apparent ‘Rug Pull’ Scam
The popular cryptocurrency known as “SquidGame Cash” or “SQUID” has collapsed amid an apparent “rug pull” scam. The digital token, which appeared in the wake of the success of Netflix’s South Korean survival drama series “Squid Game,” marketed itself as a “play-to-earn cryptocurrency” on the Binance Smart Chain (BSC). The token is not officially affiliated with Netflix….
China’s Central Bank Governor Says Fintech Crackdown to Continue
October 11, 2021
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China’s central bank vowed to keep its eye on monopolistic behaviors and consumer data security matters occurring on internet platforms. The move—claimed by regulators to be for fair competition—was to tap the wealth, said an observer. Governor of the People’s Bank of China Yi Gang addressed a meeting Oct. 7 saying the bank will work…
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