Elon Musk, the billionaire owner of X — formerly Twitter — disclosed that the platform would need to operate cautiously when it comes to China due to his business interests there, according to a new biography by author Walter Isaacson. Musk said X would need to be cautious…
Read MoreA House committee recently demanded a California city hand over documents related to the discovery of an illegal China-linked biolab housing infectious agents, according to a committee spokesperson. The House Select Committee on the Chinese Communist Party (CCP) issued a subpoena to the City of Reedley, California, last…
Read MoreChina will soon launch a large new state-backed investment fund to pour capital into the Chinese semiconductor sector in order to compete with the U.S., according to Reuters. The new fund targeting the Chinese chip industry aims to raise the equivalent of $41 billion as one of three…
Read MoreSecretary of Commerce Gina Raimondo said Thursday that the United States did not want “to hold China down” during a Thursday interview following her trip to that country. Raimondo spent three days in China meeting with multiple officials, following trips by Secretary of State Antony Blinken and Treasury…
Read MoreA growing number of major economies have recently criticized the status of the U.S. dollar as the primary currency for global trade, leaving experts to fear long-term danger for U.S. dollar dominance. Several countries expressed a strong desire to change the global reserve currency at the Brazil, Russia,…
Read MoreSecretary of Commerce Gina Raimondo plans to avoid raising the subject of TikTok during her time in China, according to The New York Times, despite numerous concerns over the app’s ties to the Chinese Communist Party (CCP). Lawmakers on both sides of the aisle have endeavored to regulate…
Read MoreBrazil, Russia, India, China and South Africa (BRICS), a group of emerging countries combatting traditional Western dominance, added six new member countries, it announced at its summit on Thursday. Saudi Arabia, Iran, Ethiopia, Egypt, Argentina and the United Arab Emirates are the six new countries BRICS welcomed into…
Read MoreMajor Wall Street firms that decided to expand their asset management operations into China even as other companies fled are struggling to capitalize on the market, according to The Wall Street Journal. BlackRock, a top U.S. investment company, is one of many American firms that are struggling to…
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