Key facts: The main challenge will be to make renminbi available to oil-importing countries. The introduction of the petroyuan will increase the fragmentation of the global financial system. As part of the BRICS’ de-dollarization plan, the group of countries led by Russia and China is also evaluating new payment alternatives for global oil trade. The … Read more
Highlights America has also banned Chinese smart vehicles.Earlier, 100% duty was imposed on electric vehicles.America is trying its best to isolate China. Ban on Chinese vehicles: On Monday, the US Commerce Department put forward a new proposal that plans to ban connected vehicles equipped with Chinese software and hardware from US roads due to national … Read more
Amid slowing growth and low investor confidence, the Central Bank of China (PBOC) announced the implementation of one of the largest stimulus packages since the start of the Covid pandemic in 2020. Unlike Western countries, its main objective is to counter deflation. As reported by PBOC Governor Pan Gongsheng, the goal is to bring annual … Read more
Prime Minister Narendra Modi is on a US tour these days. There he met US President Joe Biden and then also attended the Quad Summit. PM Modi’s influence was clearly visible in this summit, when all the Quad leaders said that there is a lot to learn from India’s regional leadership under the leadership of … Read more
Key facts: Hong Kong accounts for East Asia’s largest year-over-year growth in cryptocurrency usage. Chinese people are using cryptocurrencies to preserve their wealth, the company says. Hong Kong has emerged as an epicenter of bitcoin (BTC) and cryptocurrency adoption in the Greater China region, according to a recent report from blockchain analytics firm Chainalysis. In … Read more
Key facts: The United States’ openness to mining contrasts with China’s semi-clandestine nature. The Czech Republic and Japan follow the two powers with 1% and 2% respectively. The United States is increasingly casting a larger shadow over China’s mining industry, which now accounts for 53% of the total Bitcoin hashrate. This narrowing of the gap … Read more
Key facts: Saudi Arabia to accept yuan in oil trade, challenging dollar dominance China is moving forward with its strategy to increase the use of the yuan in global transactions. Although the dollar’s dominance remains firm globally, the changes highlight that a process of transformation of the global financial system is underway, in which China … Read more
New York. China, which has been committing various atrocities on the minority Uighur Muslims in its country, is now worried about humanity. After the Israeli attack, it has now called Gaza a hell on this earth. China has also tried to threaten Israeli Prime Minister Benjamin Netanyahu. China’s representative in the United Nations Security Council … Read more
Washington. America is now eyeing the solar panels installed on your roof. This is being said because it has banned such electronic devices made in India. It has also imposed a similar ban on China. In fact, the US Customs and Border Protection (CBP) has stopped the shipment of electronic devices worth about $ 43 … Read more
The US has announced new sanctions on several companies and people in Europe and Asia for indirectly helping Russia in the war against Ukraine. This action has been taken against companies accused of providing products and services for Russian military activities. The US State Department has particularly expressed concern about items exported from China to … Read more