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” Law Decoded, May 30–June 6: Terra’s aftermath in China, Japan and South Korea “ The “long waves” of TerraUSD’s May 7 collapse, which we noted two newsletters ago, are extending even further. Last week brought some notable reactions to the stablecoin’s depegging in the East Asia region. A Chinese state-owned media outlet, the Economic…
“Biden to relax China tariffs in lame bid to address inflation” In a bid to slow the soaring inflation he’s given the country President Joe Biden is looking to . . . reverse another Trump policy, specifically the last president’s 2018 tariff hikes on roughly $300 billion of Chinese goods. To be fair, for once…
“Biden slammed for pushing to lift tariffs on China” President Biden’s plan to lift tariffs on China will do little to ease record levels of inflation while giving Beijing the upper hand in its trade relationship with the United States, according to analysts. Commerce Secretary Gina Raimondo said Sunday that Biden has asked his team…
“Team Biden ready to hand Russia and China vaccine technology for free” The Biden administration is about to give one of the biggest US technological breakthroughs of the 21st century to Russia and China — free of charge. That’s not the administration’s goal, of course. But it’s the inevitable result of a proposed deal that US negotiators…
“On Tiananmen Square anniversary, China holds record number of Hong Kong political prisoners” Hong Kong’s Victoria Park will be eerily silent June 4, the 33rd anniversary of Tiananmen Square. In 2019, and every year between it and 1989, thousands gathered there to commemorate the martyrs of the massacre. But in just three years, the government…
” Crypto Biz: Helicopter CBDC money rains on Shenzhen, May 26—June 1 “ China’s pandemic-hit economy needs all the help it can get after a surge in COVID-19 infections triggered mass lockdowns across the country. In an attempt to revive consumption, the southern city of Shenzhen used Beijing’s central bank digital currency, or CBDC, to…
” Bitcoin price broke to the upside, but where are all the leveraged long traders? “ This week’s Bitcoin (BTC) chart leaves little doubt that the symmetrical triangle pattern is breaking to the upside after constricting the price for nearly 20 days. However, derivatives metrics tell a completely different story because professional traders are unwilling…
“Lion with ‘mullet’ forces zoo to deny Joe Exotic haircut: ‘It’s nature’s magic’” Even lions can have a bad hair day. Hot and humid weather in southwest China is cramping the hairstyle of Hang Hang the lion, who was recently photographed at Guangzhou Zoo with a mane looking more limp than usual. Zookeepers attempted to…
“Chinese backer for ‘Top Gun’ pulled out over pro-US message” A multi-billion dollar Chinese tech company pulled out of financing the new smash sequel “Top Gun: Maverick” because it was worried about angering Communist Party officials due to the film’s overtly pro-American theme, according to a report. In 2019, Tencent Holdings gave a commitment to…
” Chinese state media signals tighter crypto regulations in Terra aftermath “ The China state-owned media outlet, the Economic Daily, has signaled that the Chinese government may introduce even tighter regulations on cryptocurrencies and stablecoins due to the collapse of the Terra ecosystem. In an article published May 31, the outlet detailed the collapse of…