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“# China turns up pace on CBDC release, tests infrastructure prior to adoption ” The COVID-19 crisis has done little to dampen China’s interest in becoming the first major economy to distribute a central bank digital currency. Quite the contrary, its digital currency/electronic payment project appears to be picking up speed. In the Shenzhen region,…
“#Chinese ice cream contaminated with COVID-19, report says” China has come up with a new ice cream no one wants to try. During routine government testing recently, three samples from a northern China ice cream company came back positive for COVID-19. Officials now believe that 4,836 boxes of the ice cream may have been contaminated…
“#Trump’s parting shot to Xi should be recognizing Taiwan” President Trump’s two greatest foreign-policy accomplishments both involve departures from outmoded paradigms that had, for decades, enraptured bipartisan neoliberal elites: unprecedented Arab-Israeli rapprochement in the Middle East and an assertive China containment strategy in the Asia-Pacific. On the former front, Trump boldly departed from the misbegotten…
“#Xi Jinping seeks Howard Schultz’s help with US-China relations” Sounds like Xi Jinping wants to have a Frappuccino with Howard Schultz. The Chinese president wrote a letter to the former Starbucks CEO asking him to help strengthen the fraying relationship between the US and China. In the Jan. 6 letter, Xi encouraged Schultz and the…
“#China possibly committed ‘genocide’ against Xinjiang Muslims” WASHINGTON – China has possibly committed “genocide” in its treatment of Uighurs and other minority Muslims in its western region of Xinjiang, a bipartisan commission of the US Congress said in a report on Thursday. The Congressional-Executive Commission on China (CECC) said new evidence had emerged in the…
“# China’s blockchain project BSN to pilot global CBDC system in 2021 ” The Chinese national blockchain project, the Blockchain Service Network, is planning to pilot integration with global central bank digital currencies. According to a Jan. 15 blog post, the BSN is looking to build a universal digital payment network, or UDPN, based on…
“# US Fed: CBDC a ‘very high priority’ to combat bad private sector money ” Cryptocurrency stablecoins could become systemically important overnight, says United States Federal Reserve Chairman Jerome Powell, and that’s why the Fed is determined to get its own central bank digital currency right. CBDCs are the banking industry’s answer to cryptocurrency stablecoins….
“#Google removes shady loan apps from its India Play Store — but the damage is done” After the loss of several lives and millions of rupees, Google India has finally removed hundreds of shady loan apps from Play Store in the country. These loan apps, the majority of them with Chinese connections, gave out small…
“#Inside the fight to bring ‘the two Michaels’ home from China” Michael Kovrig walks at least 7,000 steps a day in laps of his cell, along with doing push-ups and planks and practising yoga and meditation. Among his few possessions are a grey uniform, a bar of soap, two Hello Kitty washcloths and a small…
“#WeWork CEO says company on track to be profitable by end of year” WeWork Chief Executive Sandeep Mathrani said Wednesday the co-working firm is “completely on track” to reach profitability by the fourth quarter of this year, and its office spaces in China have nearly bounced back to pre-pandemic levels. Mathrani took the helm at…