ASIA: China’s capital city, Beijing, will hand out about $1.5 million in a limited trial of the central bank’s digital currency, the municipal government announced over the weekend. That marks the third major test of the digital currency under development by the People’s Bank of China. The cities of Shenzhen and Suzhou held similar experiments […]

When we look at 2020, it will be a year most prefer to forget. Overall, productivity decreased 4.8% in Q4 2020 while unit labor costs increase sharply by 6.8% (annual rates) which is fulfilling what Socrates has been forecasting that this wave into 2024 will be inflationary. The December 2020 jobless rate was up over […]

ASIA: Australian farmers have warned that the country’s trade dispute with China and supply chain disruption linked to the coronavirus pandemic will cost the industry $28bn over the next decade. In a pre-budget submission published on Friday, the National Farmers’ Federation appealed to the government to invest A$3.5bn (US$2.66bn) to support a trading strategy aimed […]

ASIA: Britain’s broadcasting regulator said on Thursday that it had withdrawn the license for China Global Television Network, an international news channel owned by a Chinese state broadcaster, to operate in the United Kingdom in part because its affiliation with the Chinese Communist Party violates broadcasting laws. The regulator said that those that most likely […]

ASIA: China and Russia have blocked the UN from condemning the ongoing military coup in Myanmar. The UN statement sought to “condemn the military coup” and call on the military to “immediately release those unlawfully detained,” according to a draft seen by Politico. Wider fiscal deficits and a more gradual pace of consolidation will lift […]

QUESTION: When you were in Singapore, you said that Myanmar was at political risk beginning in 2021 to 2022. Can you elaborate on the given this coup? FB ANSWER: This coup has exposed the different political responses between China and the United States. However, it was curiously lined up with a global trend whereby the […]

ASIA: China’s growth is likely to moderate in the coming months as the country faces risks on two fronts, according to the chief Asia economist of Goldman Sachs. Goldman Sachs economist Andrew Tilton said the policy makers are quite comfortable with the recovery so far and are starting to pull back on policy stimulus to […]

Thanks to provocative moves by Iran, President Biden is facing an increasingly uncertain situation when it comes to Iran, which has been America’s nemesis since the 1970s when they called the US the Great Satin. They have been pushing much of the Middle East’s instability for decades. The military in the last days of Trump […]

ASIA: China is cracking down on a crime ring making “fake vaccines” for Covid-19 that has been running since September, state media reported. Police departments in Jiangsu, Beijing, and Shandong have arrested more than 80 people involved in producing more than 3,000 fake Covid-19 vaccine doses, Xinhua News Agency reported. Xinhua said China’s Ministry of […]

COMMENT #1: Nobody is suggesting that we should “destroy all capital”. Right wing nonsense. We all know that communism is unsustainable due to its inherent lack of economic motivation for anyone to be productive or creative. Similarly, pure capitalism ultimately self destructs without the balance of some collective investment in society (i.e. socialism), as all […]