China’s digital yuan (e-CNY), once a frontrunner in central bank digital currencies (CBDCs), faces challenges including corruption scandals and slow adoption due to entrenched online payment giants like Alipay and Wechat Pay. The downfall of Yao Qian, a leading architect of the e-CNY, over cryptocurrency-related bribery allegations, has intensified scrutiny of its rollout. While cumulative […]
China’s trade with BRICS countries surged by 5.1% year-on-year, reaching 4.62 trillion yuan (approximately $ 653 billion) in the first three quarters of 2024. Officials emphasized the importance of BRICS as a crucial platform for developing nations to collaborate, particularly in sectors like steel and textiles, further enhancing their global influence after expanding its …
Chinese investors have been left wanting more from the latest stimulus measures announced by authorities. Analysts are attempting to explain the reasons behind China’s lack of deeper action to stimulate its economy and how this might affect the Asian giant’s commercial partners. China’s Weak Stimulus Measures Stifle Markets, Analysts Try to Explain the Reasons Behind […]
Zhu Guangyao, China’s former vice minister of Finance, has called on the country to continue researching crypto as the US changes its attitude towards the asset class. During the 2024 Tsinghua PBOC Chief Economist Forum, Guangyao stated that crypto should be studied “because it is a crucial aspect of the development of the digital economy.” […]
China’s slowing economy is poised to redefine its global trade relationships, particularly with the Global South. Assistant professor Ning Leng of Georgetown University’s McCourt School of Public Policy discussed how these internal economic challenges might prompt China to boost investments in regions like Southeast Asia and Latin America. China’s Economic Shift and Its Global Implications […]