Beijing Continues to Open Up Financial Sector, But Tightens Control Over Foreign Investment
China is committed to opening up its financial sector, according to a State Council executive meeting held on July 21. The meeting, attended by Chinese Premier Li Keqiang, noted that opening up the country’s financial...
China Shows Signs of Fiscal and Food Shortages Amid Slowing Economic Growth
The Chinese Communist Party (CCP) celebrated its centennial in July with a parade in Tiananmen Square and paeans to the Party’s prowess. The celebratory mood, however, did not quite cover the glint of trouble that...
France to Imprison Vaccine Passport-Defying Business Owners for up to 1 Year
Draft text of a new French law announced by President Emmanuel Macron on July 12 requiring citizens to present a clean Health Pass QR code scan, the country’s vaccine passport app, to prove their vaccination...
Online Startup KakaoBank Challenges South Korea’s Traditional Banking System
South Korea’s traditional banking sector is facing stiff competition from emerging digital banking platforms. The biggest challenger in this sector is KakaoBank. Founded in 2017, the virtual bank has risen from being an offshoot of...
Millions of Chinese Graduates Either Unemployed or Underemployed Following Graduation
Chinese universities are producing millions of graduates each year with higher and higher levels of education, however, after graduation many of these former students are finding themselves either unemployed or underemployed. Many are struggling to...
Bitcoin Miners Flee China Amidst CCP Crackdown, Many Heading for Texas
China is responsible for around 70 percent of Bitcoin blockchain operations in the world, mostly concentrated in the four provinces of Xinjiang, Inner Mongolia, Sichuan and Yunnan. The country is now witnessing an exodus of...
Didi Investor Temasek’s Portfolio Value Surges as China Cracks Down on Companies, Calls for Protecting US Investors
Singapore-based Temasek Holdings has reported a 24.5 percent increase in its portfolio value for the fiscal year ending in March 2021. Ranked as one of the biggest investors in the world, Temasek has 64 percent...
Nearly 2 Million Workers Expected to Rejoin US Labor Force When Federal UI Bonus Ends
The U.S. economy is projected to regain 1.84 million workers when federally sponsored COVID-19 unemployment insurance benefits end, a new survey says. A July 14 article by analyst firm Morning Consult, relying on a poll...
Treasury Secretary to Review Climate Change Risk to US Financial System
Janet Yellen, the U.S. Treasury Secretary, has announced that she will be leading an effort by some of the top regulators in the country to determine the potential risks posed to the financial system by...
