China is facing a new financial crisis – or so it is often said. That Beijing could face a major financial crisis is rarely debated. Yet the Chinese government is not limited in its spending in its own currency. It is unthinkable that the Chinese central bank, as the creator of the yuan, would refuse to make Chinese government payments.
By Redaktion Table
Immediately after taking office US President Joe Biden has sent military ships to the South China Sea. However, this is not a fundamental question about the "One China" policy. Washington still has no interest in a military confrontation but is clearly signaling that Beijing must be prepared for the new US administration not to underestimate its rival.
By Frank Sieren
The turmoil surrounding Gamestop has helped a Chinese trading app to a breakthrough in the US. The competition had blocked critical orders, leaving a gap for Webull. The up-and-coming app uses smartphones to find its way into stock market trading.
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The government in Beijing wants to establish the renminbi as a global reserve currency. While the Chinese currency is becoming increasingly popular for trade and financial transactions, it has so far been unable to pose much of a threat to the US dollar. There is simply a lack of confidence in the Chinese financial system, according to Arvind Subramanian and Josh Felman.
By Ning Wang
