Easter is historically the most confusing holiday. Besides the calculation being complex, the traditions are also a blend of various different cultures. I have written how New Year’s Eve is really a Roman tradition celebrating the god Janus who was pictured with two faces one looking back and the other to the future. Christmas is […]
Asia: Amazon announced they will shut down its China marketplace business, effectively ceding the market to Alibaba and JD.com. The business will wind down in July, giving ample time for sellers using the services to transfer to other providers. Amazon does plan to continue to support “cross-border” business – that is, importing goods into China […]
Asia: China’s GDP rose 6.4% in the first quarter, outperforming many of analysts’ expectations. Some see this as a promising sign for China as last year the GDP decelerated every quarter. Prime Minister Mahathir of Malaysia has approved a “mega link” project that connects both sides of Malaysia, spanning up toward Thailand, as part of […]
QUESTION: Mr. Armstrong; I believe you said at the WEC in 2017 that central banks will diversify and increase their gold reserves going into the currency crisis coming in 2021. China has continued to increase its gold reserves. You would please update on that development. Thank you PK ANSWER: Central banks are in a very […]
Asia: China has added a new fiscal stimulus package in order to prevent a sharp slowdown. Local governments will be allowed to issue up to 320 billion USD in special purpose bonds to fund infrastructure projects, which is an increase of over 59% from last year. Sony released “S.Ride,” an app which could become Uber’s […]
ASIA: Jack ma, head of the Chinese giant Alibaba, was criticized today after stating that the 9am to 9pm working day was “blessed” claiming it was the driving force of China today. In the Venezuela crises, China has been criticized for backing and bank rolling current unapproved President Maduro by US secretary of state Pompeo. […]
Asia: Recent figures show that Chinese trade with the U.S. has slumped. The figures suggest that the trade between the two countries is down 11% since the beginning of the year. China’s own internal figures are good with the country exporting 14% more in March and imports falling 7%, further increasing their trade balance. The […]
Asia: The World Bank president stated today that there is too much debt in the world, and finger pointing has turned toward China for lending trillions of dollars to other countries. This of course does not factor in that much of its holding debt is issued from mature countries, such as the U.S. In the […]
Asia: The EU has pledged to improve trade relationships with China, as well as improving the climate for foreign investors in the mainland. The signed declaration allowed for broader and non-discriminatory market access to the Chinese economy. Also mentioned was IP rights, which was an issue with the U.S.-China trade deal. Lastly, efforts were made […]
Asia: China wishes to ban bitcoin mining in an attempt to make the world a safer place – at least that is the positioning according to the Chinese National Development and Reform Commission. While hard to take serious at times, the group releases a report every year announcing what industries it wishes to restrict or […]
