Stablecoins that are backed by the US dollar can help the United States avoid a financial crisis caused by its large national debt. These stablecoins create a demand for US government debt because they need to hold dollars to back their value. This demand helps the US government continue borrowing money to fund its operations….
Get Email Alerts and Follow Us: The 50-year-old petrodollar agreement between Saudi Arabia and the United States has expired without renewal. Originally brokered in 1974 by Secretary of State Henry Kissinger to uphold the dominance of the US dollar in global trade after the end of the gold standard, this deal mandated that Saudi oil…
After nearly four years of experiments, it appears that China’s central bank digital currency (CBDC) is moving towards a full-scale rollout following a change in terminology for the mobile application. In early June, mobile app users observed the term “pilot” dropped from its name across app stores in China, fueling speculation for a commercial release….
Get Email Alerts and Follow Us: Chinese tech giants, like ByteDance, are circumventing U.S. government restrictions on advanced AI chips by renting these chips for use on U.S. soil. The U.S. has restricted direct sales of Nvidia‘s A100 and H100 AI chips to Chinese companies due to national security concerns, but renting these chips within…
Get Email Alerts and Follow Us: Prosecutors in South Korea have charged a Chinese national, a former SK hynix employee, with stealing semiconductor technology. The woman allegedly took thousands of pages of critical semiconductor process information to Huawei. This incident underscores rising concerns about industrial espionage targeting South Korea’s advanced semiconductor sector. Arrested in April…
Contrary to market expectations and the estimated exit poll average of around 360 for NDA, the actual vote count so far shows a considerable decline (240 for BJP alone vs 302 in 2019). This effectively highlights the formation of a weaker alliance government in the offing, thereby reducing the dominance of the BJP. This will…
Get Email Alerts and Follow Us: Chinese companies facing regulatory challenges in the United States are adopting strategies such as setting up affiliates, rebranding, and changing corporate names to circumvent US regulations. These actions, though legal, complicate enforcement as ownership becomes ambiguous. The trend intensified around 2020, with increased scrutiny under the Biden administration. Companies…
China’s Caixin PMI Manufacturing index edged up from 51.4 to 51.7 in May, surpassing expectations of 51.5. Caixin reported that production expanded at its most pronounced pace since June 2022, with the fastest growth in purchasing activity in three years. Meanwhile, input price inflation reached a seven-month high. Wang Zhe, Senior Economist at Caixin Insight…
ECB set to slash rates on Thursday, focus on forward guidance But will the BoC take the lead when it meets on Wednesday? US jobs report eyed on Friday as Fed unyielding on cuts OPEC+ might extend some output reductions into 2025 ECB poised to cut rates, but what’s next? The path by central banks…
Get Email Alerts and Follow Us: The US government has intensified its scrutiny of Applied Materials Inc., a prominent American semiconductor equipment manufacturer, for allegedly facilitating the shipment of chip manufacturing tools to China without the necessary export licenses. This investigation has far-reaching implications for the semiconductor industry, highlighting the complex interplay between national security…