Art market faces new hurdles + Ex-Interpol chief Meng + E-yuan
Whether it's Art021 in Shanghai or the West Bund Art & Design Art Fair – China's art market is booming. The People's Republic has long been one of the largest markets for contemporary art, with billions of dollars in sales every year. So far, it's mainly foreign galleries and artists who have profited from this, but a strong artist scene has long since established itself in China as well, as Ning Wang shows in her analysis of the Chinese art market. However, during her investigation, she has also encountered discord and concerns among gallery owners. Above all, the campaigns of state and party leader Xi Jinping could ruin the current boom.
Today, our Beijing author team takes you into the depths of a true political thriller. In October 2018, the first Chinese head of Interpol suddenly disappeared. There was no trace of him, and it took several days before the leadership in Beijing stated they had arrested Meng Hongwei for corruption. Now Meng's wife is speaking out publicly. In a spectacular interview, she explains that her husband fell victim to a purge by head of state Xi Jinping. The party does not even show away from arresting internationally visible officials.
The introduction of a digital central bank currency has been discussed for a long time. But what is behind it: the internationalization of the yuan? The replacement of the US dollar as the reserve currency? Frank Sieren has taken a look at what the Chinese central bank chief has to say about the goals behind such a huge step. Our author in Beijing takes stock: Above all, China's leadership wants to break the market power of internet giants.