Few ideas in global finance generate as much anxiety as de-dollarization. To some Western observers, any attempt to reduce reliance on the US dollar is automatically framed as a political challenge to American power. Yet for much of the developing world, the conversation is far less ideological and far more practical. The push to diversify global payment systems and promote the use of local currencies is not about confrontation; it is a response to economic realities that many countries have lived with for decades. The dominance of the dollar has…
Posts published in “China”
China has executed 11 members of a notorious mafia family that ran scam centres in Myanmar along its north-eastern border, state media report. The Ming family members were sentenced in September for various crimes including homicide, illegal detention, fraud and operating gambling dens by a court in China’s Zhejiang province. The Mings were one of many clans that ran the town of Laukkaing, transforming an impoverished backwater town into a flashy hub of casinos and red-light districts. Their scam empire came crashing down in 2023, when they were detained and…
There are no Chinese warships operating in Greenland and no significant Chinese investments in the region, Denmark’s Foreign Minister Lars Lokke Rasmussen said in Washington on Wednesday, as he countered US threats to seize the Arctic island. Rasmussen, together with Greenland’s Foreign Minister Vivian Motzfeldt, had an hourlong meeting with US Vice-President J.D. Vance and Secretary of State Marco Rubio at the White House, the first face-to-face meeting between the high-level officials as Washington’s rhetoric of taking full control Greenland has run high. “It was a great opportunity also for…
Amid global tensions involving Venezuela and Iran, there is hope that the scheduled meeting between US President Donald Trump and his Chinese counterpart Xi Jinping in Beijing in April 2026 could arrest America’s aggressive and predatory policies. A possible Trump-Xi détente could also reduce risk-taking in the Taiwan Straits, and push China to take a different position on the Ukraine war. In 2025, Trump accepted an invitation from Xi to visit Beijing in April 2026. The call, as US media reported, was initiated by Xi. This was preceded by a…
Shanghai ranked first nationwide in overall science and technology innovation performance, according to the China Regional Science and Technology Innovation Evaluation Report 2025. The top ranking reflects the steady strengthening of Shanghai’s innovation ecosystem in recent years, underpinned by sustained increases in funding. From 2022 to 2025, the city’s fiscal spending on science and technology grew at an average annual rate of more than 20 percent, while investment in basic research increased by 85 percent. During the 14th Five-Year Plan period (2021-25), R&D expenditure as a share of GDP rose to around 4.5…
The ongoing Dutch restrictions against Chinese-owned chipmaker Nexperia risk causing “multi-layered and irreversible” real-world damage to the stability of semiconductor supply chains in Europe and globally, deputy chief of a chip industry association has warned in an exclusive interview with the Global Times. The comments from Wei Shaojun, vice chairman of the China Semiconductor Industry Association (CSIA), came in response to the Netherlands placing Nexperia under special administrative measures over so-called security concerns. The Dutch Ministry of Economic Affairs revealed on October 12, 2025 that it had invoked the 1952…