ASIA: China is maintaining “normal communication” with the United States on trade, the Chinese government said on Thursday. Washington and Beijing signed a so-called Phase 1 trade deal in January 2020, before the widespread outbreak of COVID-19. The pact calls for China to increase its purchases of U.S. exports by $200 billion over two years. […]

ASIA: President Xi Jinping of China is considering raising taxes on wealthy citizens to create a “common prosperity.” In a Tuesday meeting, the president urged for a “reasonable adjustment of excessive incomes and encouraging high income groups and businesses to return more to society.” However, exact tax figures or plans were not revealed. The top […]

The Federal Reserve’s take on the coin shortage says that there are ample coins in the economy, but the banks have also been closed so there was a shortage also created by the fact that businesses could not get coins from a local bank that was operating only in a virtual mode. This also contributed […]

Our greatest problem has been that Bill Gates has his tentacles deeply involved in the CDC and FDA while he has a major shareholding in the vaccine companies. If I was managing a big public fund or just a big private investor, the Federal Reserve, Treasury, and every other central bank in the world would […]

ASIA: A report published by US-based Peterson Institute for International Economics said that China’s purchases of U.S. goods are still falling short of trade agreement levels, even as overall Chinese imports from the U.S. have surged. In January 2020, before the coronavirus pandemic and under former U.S. President Donald Trump, China agreed to buy at […]

ASIA: Intel Corp said on Monday its factories will start building Qualcomm Inc chips and laid out a roadmap to expand its new foundry business to catch rivals such as Taiwan Semiconductor Manufacturing Co and Samsung Electronics Co Ltd by 2025. Intel said on Monday it expects to regain its lead by 2025 and described […]

ASIA: China has scrapped its population control policy. Families in China can have as many children as they like without facing fines or other consequences. The announcement ended, in practice, decades of restrictions on the number of children each household could have, as authorities attempt to encourage births in the face of a rapidly aging […]

ASIA: Shares of Didi plunged more than 7% in US pre-market trade on Friday after officials from seven Chinese government departments visited the ride-hailing giant’s offices to conduct a cybersecurity review. The ride-hailing giant was forced to stop signing up new users and its app was also removed from Chinese app stores. The Cyberspace Administration […]

ASIA: China’s central bank cut the amount of cash most banks must hold in reserve. The People’s Bank of China will reduce the reserve requirement ratio by 0.5 of a percentage point for most banks, according to a statement published Friday. That will unleash about 1 trillion yuan ($154 billion) of long-term liquidity into the […]

ASIA: The Biden administration on Tuesday warned businesses with supply chain and investment ties to China’s Xinjiang province that they could face legal consequences, citing growing evidence of genocide and other human rights abuses in the country’s northwest region. A joint statement by the State Department, Treasury, Commerce, Homeland Security, Labor and the Office of […]