China

30Sep

By Linda AshokNo Comments

Business, China

Is China’s Evergrande Group a Mutation of the Subprime Mortgage Crisis?

Could the current real estate crisis of China led by the Evergrande Group be a mutation of the United States subprime mortgage crisis? Many, including India's Uday Suresh Kotak of Kotak Mahindra Bank, have compared China's real estate behemoth the Evergrande Group's collapse to Lehman Brothers. The world's stock markets, including those in India, are on pins and needles. The early gains made by the Indian indices were partially eroded on Tuesday, September 21, 2021, due to a downturn in global markets led by China Evergrande Group (HKG: 3333) and Evergrande Property Services Group Ltd (HKG: 6666). Character Sketch: Evergrande Group Historically, Evergrande Group has been one of China's most successful real estate developers, with sales ranking as high as second. The Fortune Global 5...

China Bans Crypto Mining: Chinese Crypto Traders at Loss

On Friday, September 24, 2021, China's most powerful regulators went a step further by issuing a blanket ban on all cryptocurrency transactions and crypto mining, hurting bitcoin and other big coins, squeezing the whole cryptocurrency and blockchain ecosystem influencing the value of major cryptocurrencies. Ten government organizations, including the People's Bank of China and the central bank, together with banking, securities and foreign exchange regulators, have agreed to work together to root out "illegal" cryptocurrency activities for the first time. According to George Zarya, CEO of Bequant crypto exchange in London, China often takes drastic measures with claims of threats or countermeasures but then goes completely radio silent for some time. He openly stated that China would n...

Ai Weiwei Goes Pink & Middle Finger Over Julian Assange’s Extradition

On Monday, contemporary Chinese artist and activist Ai Weiwei staged a silent protest outside a London court demanding the release of WikiLeaks founder, Julian Assange, facing extradition to the United States. Julian Paul Assange from Australia is an editor, publisher, and activist who founded WikiLeaks in 2006. Assange became a household name in surveillance whistleblowing in 2010 after releasing 500,000 secret files detailing military campaigns in Afghanistan and Iraq, which compounded him a misfortune of 18 charges as per US's federal law. US Army intelligence analyst Chelsea Manning facilitated the provision. Ai Weiwei, who has been in exile in Berlin, Germany, left China in 2015 to flee from Beijing's wrath. In solidarity with Assange, Ai says that the US's prosecution of Assange is...