20 Jul 2018

Beijing working to curb ‘zombie’ company problem as they feast on new BRI projects

Embedded within China’s massive state-owned enterprise sector are thousands of “zombie” companies that do not produce enough revenue to pay debts, and are kept afloat by state funding. These companies have driven China’s growing corporate debt problem and the issue has been aggravated by China’s titanic Belt and Road Initiative.

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20 Jul 2018

Californian high-tech company partners with China to build a hyperloop transportation system

HyperloopTT, high-tech transportation company in California, has announced a partnership with a remote Chinese city to build a 6 mile length of hyperloop, a vacuum-sealed tunnel in which travelers are propelled inside capsules. Such partnerships and deals are unlikely to receive warm welcome from the U.S. Government at the current

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19 Jul 2018

Chinese consumers ready to boycott US goods, survey shows

A recent consumer survey found that 54% of Chinese consumers polled across 300 Chinese cities would “probably” or “definitely” avoid U.S. products in response to continued U.S. tariffs on Chinese goods. Chinese state media has proven effective in encouraging consumers to avoid goods from certain countries, with a recent boycott

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19 Jul 2018

US launches national security probe into uranium imports

The Commerce Department has launched an investigation on the national security impact of current uranium import levels. The U.S. produces only 5% of its yearly uranium demand in the military and energy sectors. The inquiry was launched after a petition from the only two companies that produce uranium in the

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19 Jul 2018

Microsoft wants the government to regulate facial recognition technology

Microsoft’s President compared facial recognition technology to the auto, air safety, food, and pharmaceutical industries as he called for a governmental role in regulating its use in everyday life. Regulation is necessary, he argues, for industries where companies have incentives to forego safety mechanisms if it wins them a competitive

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19 Jul 2018

Xi to start tour of Middle East, African nations, meet with Putin at BRICS summit

Chinese President Xi Jinxing has begun his 5-country, 10-day tour of the United Arab Emirates, Senegal, Rwanda, South Africa, and Mauritius, as a part of efforts to strengthen Chinese economic and political ties in the countries and the wider regions. In South Africa, Xi will attend a BRICS summit alongside

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18 Jul 2018

Google hit with record $5 billion EU antitrust fine

Antitrust regulators from the EU have fined Google a record $5 billion dollars for its use of “Android as a vehicle to cement the dominance of its search engine.” While the fine would hardly dent the $102.9 billion in cash reserves held by Google’s parent company Alphabet Inc., Google must

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17 Jul 2018

US lawmakers cry foul over China-dominated ‘golden visa’

The EB-5 Immigrant Investor Program provides up to 10,000 U.S. green cards every year to foreign nationals who invest at least $500,000 in U.S. development projects. Critics argue that the program, nicknamed the “golden visa,” allows the rich to “cut” the line to U.S. citizenship. The program was initially designed

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17 Jul 2018

Colombia, U.S., Mexico, Panama cooperating to combat the Venezuelan government’s illicit financial networks

Isolated by sanctions over human rights violations, drug trafficking, and corruption, Venezuela has developed a web of illicit financial networks that have helped keep President Maduro’s government in power. Colombia, the US, Mexico, and Panama have recently begun coordinating efforts to combat these illicit networks. The Venezuelan government has also

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17 Jul 2018

Could quantum computers render current bitcoin and most blockchain cryptography powerless?

Bitcoin ledgers are protected by puzzles that are currently too complex for modern computers to solve without access to the private key of each one. A revolution in quantum computing, however, could make it possible for quantum computers to solve these puzzles and steal bitcoin. In order to secure bitcoin

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