News Analysis China’s leading artificial intelligence (AI) firms have had a stressful year in 2022. Some reported heavy losses due to the COVID-19 pandemic, the chip ban, and the U.S. sanctions over their role in human rights abuses in Xinjiang. iFlytek Voice Recognition On April 20, iFlytek, China’s voice-computer champion, reported a revenue of 18.82…
Multiple Chinese AI Unicorn Startups Report Losses, Suffering Impact From US Sanctions
Heightened Global Uncertainty as China Appoints US-Sanctioned General as Defense Minister: Experts
News Analysis China’s National People’s Congress has appointed Li Shangfu, a U.S.-sanctioned army general, as its Defense Minister. Analysts widely interpret this appointment as indicating Beijing’s growing aggressive stance towards the United States. Li, born in 1958, served in the Equipment Development Department of China’s Central Military Commission for many years. As an aerospace expert,…
Hong Kong Chief Executive’s Pay Ranks Second in the World, Secretaries Salaries Exceed Those of Top UK and USA Officials
The Hong Kong government has been adhering to the high salary and integrity principle. The salary for the Chief Executive is one of the best in the world. Recently, the Chief Executive Office and several policy bureaus responded to the media, announcing the salaries of the Chief Executive and accountable officials. John Lee Ka-chiu, who…
Hong Kong New Leader John Lee’s Cabinet Includes 4 Officials under US Sanctions
On the morning of June 19, 2022, Beijing appointed 26 new principal officials to the Hong Kong government (the sixth government since the handover), to take up office from July 1, 2022. On the same day (June 19) Chief Executive (CE) elect John Lee Ka-chiu led his new troupe of officials to meet the press….
US Seeking to Impose New Sanctions on North Korea If Regime Goes Ahead With Nuclear Tests
June 1, 2022
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Asia & PacificInternationalLinda Thomas-GreenfieldNorth Korea missile testnorth korea nuclear weaponsUSUS NewsUS sanctionsWorld
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Despite opposition from China and Russia, the United States said May 31 it will push for new United Nations sanctions on North Korea if the communist regime conducts a nuclear test. American officials, along with counterparts from South Korea and Japan, have voiced concern regarding a potential nuclear test by the North Korean regime. It…
Washington Ends Bond Payment Exemption for Russia, Leading to Fears of Default
May 25, 2022
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Business & Economydebt defaultdebt paymentEuropeMarketsRussia-Ukraine WarRussian sanctionsUS sanctionsWorld
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Following Washington’s decision to end a key sanctions exemption, Russia’s chances of defaulting on its debts have increased. Back in February 2022, the U.S. Treasury had stated that it would allow Russia to make sovereign bond payments to American investors despite strong financial sanctions imposed on Moscow for its aggressive incursion into Ukraine. But on…
Crypto Miner BitRiver Sanctioned by US Over Russian Operations: Bloomberg
April 23, 2022
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Business & EconomyCrypto Miner BitRivercryptocurrencyeconomic policieseconomyEuropeMarketsRussiaRussia-Ukraine WarUS sanctionsWorld
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The U.S. Treasury Department sanctioned crypto mining firm BitRiver, targeting one of the industry’s top data-center service providers over its operations in Russia, Bloomberg reported. The Swiss-based company BitRiver provides Bitcoin miners worldwide with energy sources, mining facilities, and large-scale management solutions, including those in Eastern Europe and Russia. Treasury announced restrictions on BitRiver, including 10…
China Attempts to Work Out Capitalist Problems With an Authoritarian State Control: Brian McCarthy
April 5, 2022
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ChinaChina Business & EconomyChina InsiderChinese economydavid zhangdecouplingEpochTVlock downtrade dealtrade warUS sanctionsUS-China relations
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I’m joined by Brian McCarthy, founder and chief strategist for Macrolens. McCarthy is a regular traveler to China, and his interactions on the mainland shaped his views of the financial risks in the Chinese market. Macrolens is a provider of independent macroeconomic research dedicated to helping investors better understand the Chinese macroeconomy. Brian has testified…
US Ban on Russian Oil Creates Ripples in Global Economy
Attempting to further sequester Russia’s economy U.S. President Joe Biden announced on March 8 the ban of all Russian oil imports as part of a multi-faceted response to the eastern nation’s military invasion of Ukraine. While strict sanctions on Russian exports remain a cornerstone of Western efforts to stop President Vladimir Putin’s attack, it comes with a…
US Bans North Korea’s Army Minister Over Human Rights Abuses
The United States on Dec. 10 imposed new sanctions on North Korea under President Joe Biden’s administration, targeting North Korean Minister of People’s Armed Forces Ri Yong Gil and the Central Public Prosecutors Office links to human rights abuses. In a statement, the U.S. Department of Treasury said the North Korean Central Public Prosecutors Office…
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