Unfortunately, the stakes are being upped in this strange and perverse game between Trump and Pyongyang, with increasing possibilities of China becoming involved. A war with North Korea cannot be ruled out.
With his policies, particularly protectionism, Trump is about to throw the US’ world leadership in the bin. He sold an illusion to his voters since the industrial jobs which disappeared with globalisation and technology will not return. What is clear is that the consequences will hurt us all.
We can expect a rise in interest rates in 2017, driven up by the Fed, but fuelled by doubts over Europe. And I would bet the dollar will appreciate against the euro and the yuan – and sterling – although I am not normally a betting man.
Peter Drysdale via Caixin | China has a lead role to play at the Hangzhou G20 meetings on opening up global trade, investment, deeper financial reform
Fan Ruohong and Chen Na via Caixin | Renewable energy accounted for nearly a quarter of China’s power generation last year, even as wind and solar farms with 39 billion kilowatt-hours of capacity sat idle due to poor planning in the rush to meet Beijing’s ambitious green energy targets, the National Energy Administration (NEA) said.
Shi Rui, Wang Luyi, Li Rongde via Caixin | The number of provinces with pension spending deficits doubled over the last year, according to a new report, underscoring the urgency for creating a national system that would let wealthier coastal regions subsidize poorer interior ones. Pension funds in six provinces paid out more money than they collected in 2015, up from three regions a year earlier, according to the 2015 China Social Security Development Report compiled by the Ministry of Human Resources and Social Security.
Hu Shuli via Caixin | Chinese sports fans following the 2016 Summer Olympics in Rio de Janeiro have noticed something different about the latest generation of Olympians representing their country. Today’s young athletes are a lot less inclined to cry if they fail to win a gold medal. It’s a whole new ball game: China has replaced a form of gold-medal worship with true appreciation for athletic endeavors and achievement.
Wang Yuqian via Caixin | It will be another four months before the much-anticipated Shenzhen Hong Kong stock connect system finally goes online and provides another bridge between the mainland and the offshore stock markets. The stock exchanges in Shenzen and Hong Kong jointly made an announcement yesterday, providing investors with some details of how the system is going to work.
Ceng Ying via Caixin | Chinese athlete Deng Wei clinched a gold medal in the Olympic women’s weight-lifting competition on August 11, winning fame and, likely, some financial security. But the price paid by this 23-year old from an impoverished village in western part of Fujian province was a steep one, as it is with many athletes.
Citi | FinTech Remain Hot: According to the latest data published on 25th May by CB Insights and KPMG, there was a revival in FinTech investments in 1Q16 from a soft 4Q15. A total of 218 investments were made by VC-backed FinTech companies in 1Q16 raising $4.9bn in funding globally, almost doubling yoy and up 160% qoq. The trend for FinTech is noticeably more resilient than total VC funding for all sectors (-8% yoy). Total FinTech investments (including PE, hedge funds and corporate investments) were at $5.7bn, up 97% yoy and 84% qoq.