A top Chinese official made it clear that Beijing will place blame squarely on the U.S. if the chaos breaking out in Afghanistan spreads throughout the region, according to a report. “The United States, which created the Afghan issue in the first place, should act responsibly to ensure a smooth transition in Afghanistan,” Wang Yi,...
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IN CHINA, DOMESTIC BRANDS OUTPACE WESTERN ICONS
In China’s 618 E-Commerce Festival this month – a sort of Amazon Prime Day for all online retailers there – Babycare domestic diapers outsold Pampers, online giant Alibaba reported. In 2020’s Singles Day, China’s biggest online shopping holiday, Genki Forest, a Chinese soft drink, passed both Coke and Pepsi in sales. On Singles Day in...
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UPDATE: EL SALVADOR RECOGNIZES BITCOIN AS CASH
El Salvador’s legislature has rubber-stamped president Nayib Bukele’s proposal that the country recognize Bitcoin as legal tender. We reported Bukele’s proposal last week (“El Salvador Moves to Make Bitcoin Legal Tender”, Trends Journal, 8 June 2021 ). The law authorizes Bitcoin to be used to pay taxes and buy goods and services. The cryptocurrency is...
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CHINA POWER SHORTAGES: LESS COAL, MORE CLEAN ENERGY?
With China’s economy strong and our forecast that it will grow some 8 percent this year, its factories are having a hard time keeping on top of pent-up demand. The Financial Times reported on Thursday that Beijing ordered factories in industrial areas to use less power… and, in some cases, even close for a few days...
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CORPORATIONS TO RETURN TO BUYING THEIR OWN STOCK
Flush with cash after a strong earnings season and confident in the economy’s upward arc, corporations are preparing to resume buying their own stocks, a project that began in earnest after Republicans passed 2017’s corporate tax cut but were paused during the economic shutdown. U.S. companies across a broad spectrum of industries announced buybacks worth...
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COVID FRAUDSTER
One of the more remarkable aspects of the new recommendations regarding mask-wearing from the CDC seems to be how quickly and easily the agency’s director, Dr. Rochelle Walensky, has changed her tune. Gloom and Doom As recently as 30 March, Dr. Walensky’s mood was, literally, one of impending COVID doom; that’s precisely what she called...
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CHINA’S CONSUMERS BOOST SPENDING
China’s service sector, which has lagged manufacturing’s economic recovery, posted its best results this year in April, according to the private Caixin China services purchasing managers index. The index rose to 56.3 in April, up 2 points from March, to post its best reading since December, Caixin Media Co. reported. Levels above 50 signal growth;...
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U.S.-CHINA FACEOFF: EUROPE TAKING SIDES
As we have been reporting, such as in our 30 March article, “BIDEN VS. CHINA’S BELT & ROAD INITIATIVE: U.S. LOSES,” as China expands its global presence, the U.S. is taking measures in its attempt to maintain its lead as the world’s most powerful nation. Our article pointed out that Beijing is moving ahead full...
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EXPORTS FALL, TRADE GAP WIDENS IN FEBRUARY
The Donald Trump-alleged trade war with China and other nations was a factual failure. According to the Commerce Department, the U.S. trade deficit surged to a record high in February, ballooning another 4.8 percent to a record $711 billion as the cheap money fiscal stimulus spiked the fastest economic growth in some 40 years. Meanwhile,...
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TV REALITY SHOW: PRESSTITUES PUMP COVID JAB
Nothing says the COVID-19 vaccine is safe better than the “We know best” TV Presstitutes taking a jab live on air. NBC’s “TODAY” show hosts received their first dose of the Pfizer-BioNTech vaccine last Wednesday to reassure viewers that the shot is safe and effective. Savannah Guthrie, one of the hosts, said, “I feel so...