Commentary This is the first of a two-part article articulating the risks of CCP China’s new digital yuan, the e-CNY. Part I details the risks to people and businesses in CCP China. Part II addresses the geopolitical and geostrategic risks of the digital yuan to other nations and Western-style democracies. GCHQ, the UK’s…
The Risks of CCP China’s Digital Yuan Are Understated: Part I
December 21, 2021
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Florida’s Scott Questions US Response to China’s Failure to Comply With Trump Trade Deal
December 21, 2021
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China has bought just over half of the U.S. goods and services it agreed to purchase under phase one of the landmark trade deal negotiated by then-President Donald Trump, and Sen. Rick Scott (R-Fla.) wants to know what President Joe Biden is doing about it. “As part of the Phase 1 trade agreement with the…
Macau’s Casinos Pin Hopes on Everyday Gamblers After Junket Shutdowns
HONG KONG—Macau’s casinos face a bleak short-term outlook after shutting most of their lucrative gaming rooms that cater to wealthy gamblers, and along with that, the COVID-19 travel restrictions preventing the shift to mass-market customers that they will depend on in the future. The former Portuguese colony, that is the world’s biggest gambling hub in…
China Shines Regulatory Spotlight on Livestream Retail Boom, Crackdown Claims Biggest Star
BEIJING/SHANGHAI—China’s “common prosperity” crackdown has turned a harsh spotlight on the country’s massive livestream e-commerce business—underlining the fragility of a surging sales channel that some of the world’s biggest brands have come to rely on. More than 100 million followers of Viya, dubbed the country’s “queen of livestreaming” by the Chinese media and public, awoke…
Death of Chinese Tycoon Xie Triggers Selling in Firms He Controlled
SHANGHAI—Shares of Chinese companies controlled by Zhongzhi Enterprise Group Co., Ltd., founder Xie Zhikun plunged on Monday, after the unexpected death of the rags-to-riches tycoon triggered fears of disorder in a business empire spanning mining to asset management. All nine listed companies controlled by Xie, 61, including education firm Dalian My Gym Education Technology Co.,…
US Warns Banks As It Sanctions More Chinese Officials Stifling Hong Kong’s Democracy
December 21, 2021
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Washington named five already-sanctioned Chinese officials for reducing Hong Kong’s autonomy in a report and warned that foreign financial institutions doing business with them would be punished too. The Dec. 20 report identified the five as Chen Dong, He Jing, Lu Xinning, Tan Tienui, and Yin Zonghua, all deputy directors at China’s Hong Kong liaison…
Chinese City Takes Back Two Plots of Land From Evergrande
December 21, 2021
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HONG KONG—The city of Chengdu has taken back two plots of land from China Evergrande Group the latest move by authorities to seize assets from the cash-strapped property developer. The land planning authority in the southwestern city said it was taking control of the plots, totaling over 300,000 square meters, as Evergrande had not developed…
China’s Growth Picks Up Marginally in November
News Analysis After a disappointing couple of months, China’s economy improved modestly in November. It seems that the worst of the energy shortfall had lifted, allowing some catch-up last month. Beneath these kinds of month-to-month variation, however, China’s economic and financial fundamentals suggest a slower growth profile for some time to come. Chinese leader Xi…
China Cuts Lending Benchmark, Market Sees More Easing in 2022
SHANGHAI—China cut its lending benchmark loan prime rate (LPR) for the first time in 20 months on Monday, in a bid to prop up growth in the slowing economy, although it remains wary of loosening conditions in the country’s highly leveraged property market. The one-year LPR was lowered by 5 basis points to 3.80 percent…
‘Free Money’ From China Promotes Corruption Along the Belt and Road
December 20, 2021
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News Analysis On Belt and Road projects, “China offers substantial financing, usually as loans, but Beijing is not a member of the Paris Club and has never supported globally recognized transparent lending practices,” said Ambassador Alice Wells, principal deputy assistant secretary of state for South and Central Asian Affairs. A lack of transparency in the…
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