#Mount Qilai

[scrapblring]

…

@caco_chen

[hbclife]

Egypt to buy 180,000 tonnes of Indian wheat

Egypt to buy 180,000 tonnes of Indian wheat

A harvester and a tractor collect wheat from a field before it will be turned to rice paddies on Chongming Island, in Shanghai, China, on Thursday, June 2, 2022. With the world facing mounting food insecurity because of shortages and soaring costs, governments will be watching rice prices for any sign that political unrest is about to erupt. Photographer: Qilai Shen/Bloomberg Egypt has…

[thenetionalnews]

Bangladesh tries to secure wheat from Russia as India stops exports: Sources

Bangladesh tries to secure wheat from Russia as India stops exports: Sources

A harvester and a tractor collect wheat from a field before it will be turned to rice paddies on Chongming Island, in Shanghai, China, on Thursday, June 2, 2022. With the world facing mounting food insecurity because of shortages and soreing costs, governments will be watching rice prices for any sign that political unrest is about to erupt. Photographer: Qilai Shen/Bloomberg Bangladesh is…

[ourprefers]

Asian stocks, oil prices fall sharply as inflation concerns mount

Asian stocks, oil prices fall sharply as inflation concerns mount

Investors fear a swift consumer demand rebound coupled with trillions of dollars in stimulus measures may drive up inflation. China’s blue chip share index shed 1.9 percent, perhaps unnerved by a fiery exchange between Chinese and US diplomats at the first in-person talks since US President Joe Biden took office [Qilai Shen/Bloomberg] Asian share markets slipped on Friday after a spike in…

[thenewsedge]

Surveillance cameras are mounted on a post at Tiananmen Square as snow falls in Beijing, China, on Thursday, Feb. 14, 2019.Qilai Shen | Bloomberg | Getty ImagesChina could use the coronavirus outbreak to boost its mass surveillance capabilities as it looks to technology to help contain the epidemic in the world's second-largest economy.The Communist Party…

[kevinjona4]

China to boost mass surveillance machine, experts say

China to boost mass surveillance machine, experts say

Surveillance cameras are mounted on a post at Tiananmen Square as snow falls in Beijing, China, on Thursday, Feb. 14, 2019.

Qilai Shen | Bloomberg | Getty Images

China could use the coronavirus outbreak to boost its mass surveillance capabilities as it looks to technology to help contain the epidemic in the world’s second-largest economy.

The Communist Party has built a vast surveillance…

[newsnomadblog]

Pot Kettle Black: US takes aim at Chinese surveillance industry

Pot Kettle Black: US takes aim at Chinese surveillance industry

Surveillance cameras are mounted on a post at Tiananmen Square as snow falls in Beijing, China, on Thursday, Feb. 14, 2019. Qilai Shen | Bloomberg | Getty Images

27 May 2019 | Arjun Kharpal | CNBC

China and America’s trade war looks more and more like a tech war, and the United States appears to be widening its focus on to another category of Chinese technology: surveillance.

The U.S. may put…

[rollinbrigittenv8]

China’s Alibaba Trims Business Travel Spend as Trade War Concerns Mount

Travelers walk through a terminal overlooking an Air China jet at the Beijing Capital International Airport in Beijing, China, on March 15, 2016. Alibaba cautioned its employees to trim its business travel spend. Qilai Shen / Bloomberg

Skift Take: Alibaba's business travelers are no longer routinely booking extra-legroom seats, and they are not riding solo in taxis. The impact of U.S.-China trade war tensions is creeping into U.S.-China travel from both countries.

— Dennis Schaal

Read the Complete Story On Skift

[chloe-jayde]

China's Yuan Pares Gains, Stocks Decline as Trade Worry Persists

New Post has been published on https://worldwide-finance.net/news/commodities-futures-news/chinas-yuan-pares-gains-stocks-decline-as-trade-worry-persists

China's Yuan Pares Gains, Stocks Decline as Trade Worry Persists

© Bloomberg. Employees arrange boxes at Best Inc.’s warehouse in Shanghai, China, on Monday, Nov. 6, 2017. Photographer: Qilai Shen/Bloomberg

(Bloomberg) — China’s yuan pared gains and mainland equities declined, as markets tried to find direction after trade tension with the U.S. escalated further over the weekend and Chinese authorities announced a measure to support the yuan late Friday.

The onshore yuan trimmed earlier gains and was little changed at 6.8300 per dollar as of 1:15 p.m. The People’s Bank of China set the daily reference rate at 6.8513, the weakest since May last year, though in line with analyst expectations. The fell 0.6 percent and the ChiNext gauge slid 1.5 percent. Hong Kong’s held on to gains after falling every day last week.

“The market is still worried about the outlook in the trade war, so people are very cautious,” said Qian Qimin, an analyst with Shenwan Hongyuan Group Co. “They are dumping smaller caps first as their valuations are higher.”

Shanghai-based Qian said the next key level to watch for the Shanghai Composite is 2,691, a low it hit on July 6. If the index falls below that, it would hurt confidence and the selloff could escalate, he said. The benchmark was at 2,723 Monday, down 23 percent from its January high.

Here’s a look at some of the moves on Monday:

GCL-Poly Shares Tumble as $1.9 Billion Unit Sale Collapses

Chinese Pig Breeders Slump After African Swine Fever Breaks Out

China Financials Lead Gains as PBOC’s Move Lifts Confidence

Yuan Climbs as Central Bank Raises Cost to Short: Inside China

Google (NASDAQ:) Is Said in Talks With Tencent, Inspur for China Cloud

Zhang Gang, Shanghai-based strategist with Central China Securities Co.:

China’s central bank doesn’t want the currency to drop further and it will take more actions if depreciation expectations grow

Given the latest development in the trade war, investors may have come to realize that it’s going to be a process of tensions and negotiations, and it’s unlikely for both sides to come up with any extreme moves.

On Friday evening:

The PBOC said it will impose a reserve requirement of 20 percent on some trading of foreign-exchange forward contracts. That will effectively make it more expensive to short the yuan, which fell on Friday to the lowest since May 2017

And about an hour later, officials released a list of $60 billion in U.S. goods that Beijing intends to hit with tariffs, in retaliation for Trump’s plan to impose duties on $200 billion in Chinese imports.

The timing of the announcements seemed coordinated to avoid kneejerk declines in China’s currency from the tariff proposal, according to Deutsche Bank AG (DE:). Imposing a levy on forward trades is a tactic that the central bank used to stabilize the yuan against the dollar in the aftermath of its shock devaluation in 2015. China’s currency and stocks are both among the world’s worst performers over the past three months.

“The yuan kept falling when China did this last time in 2015, so I don’t think the PBOC’s move will significantly change the market tone,” Hao Hong, chief strategist at Bocom International Holdings Co., said by phone. “The trade war is nowhere near its end and China’s economy is slowing down, so why would the trend reverse?”

The Ministry of Finance said that duties ranging from 5 percent to 25 percent will be levied on more than 5,000 categories of American imports if the U.S. delivers its proposed taxes on another $200 billion of Chinese goods. The list targets everything from planes and computers to wigs and textiles, with the highest tariff applying to more than 2,400 products such as meat, wheat, wine and liquefied .

The effective additional tariff rate is about 13 percent, which is much less than a proportional retaliation, Goldman Sachs Group Inc (NYSE:). economists wrote in a note. “Nevertheless, this measure still marks a step up in US-China trade tensions.”

“The news headlines from Friday will have some negative impact on share market sentiment,” said Dai Ming, Shanghai-based fund manager with Hengsheng Asset Management Co., who added that he doesn’t expect Chinese equities to recover until there’s evidence that the trade dispute is being resolved. “The stock market isn’t the government’s priority.”

China’s stock woes have caught the attention of U.S. President Donald Trump, who tweeted about the market’s underperformance versus U.S. shares on Saturday and told a rally in Ohio that the declines are weakening that nation’s bargaining power in the trade war. And White House economic adviser Larry Kudlow suggested Friday that China is letting its currency fall to offset losses from the trade war, though he added that the decline is partly due to weak economic fundamentals.

Eight straight weeks of losses have brought the yuan close to 7 per dollar, a level it hasn’t reached in more than a decade. Analysts had identified that as a key milestone where officials may seek to arrest declines, to counteract the mounting risk of capital outflows. China burned through foreign reserves propping up its currency after the devaluation almost three years ago spurred a rush to take money out of the country.

The levy on forwards is aimed at preventing macro financial risks as the foreign-exchange market shows signs of volatility amid recent trade frictions, and shouldn’t be interpreted as a capital control, according to the PBOC.

What else to watch:

Data on China’s second quarter current-account balance is due Monday. The nation is likely to report a deficit for the first six months, the first time that’s happened since China started to publish the statistic on a half yearly basis in 1998, according to Deutsche Bank, which cut its year-end forecast for the yuan to 6.95 per dollar from 6.8 on Aug. 1

If the Shanghai Composite falls just 0.3 percent on Monday, it’ll return to a 2 1/2-year low

An update on China’s foreign-exchange reserves for July is due Tuesday, with analysts expecting a slight decline

And China trade figures for July are scheduled for Wednesday.

Here are additional analyst comments on the Friday night news, and how it may impact markets:

Deutsche Bank (Alan Ruskin, global co-head of foreign-exchange research)

Shows some good faith that China is not encouraging yuan weakness, “even if there is a widespread sense in the market that they have hitherto been ok with a benign neglect stance on the currency”

China may be keeping some powder dry to use currency as a trade tool later if needed, recognizing that the yuan weakening past 7 would be seen by the U.S. as an act of retaliation

There’s a policy contradiction in that China is seeking to keep local liquidity flush, while also trying to slow or stop the yuan weakening; this “will be the biggest challenge for the authorities”

Hengsheng Asset Management Co. (Dai Ming, fund manager)

“Everything is about stability now”: watch for further measures to cushion the economy

“To stabilize foreign trade and to offset the impact from U.S. tariffs, the yuan will have to gradually depreciate. There is no better way”

Some policy signals have been confusing, such as whether officials are continuing with their deleveraging campaign and whether China would defend the yuan at 6.7 per dollar; “it’s too hard to make calls unless investors can get a clear understanding of China’s strategy”

Everbright Sun Hung Kai Co. (Kenny Wen, strategist)

While investors will focus on A shares and the yuan, Hong Kong stocks will be affected as well given that many H-share companies are dual-listed and there is an increasing correlation between yuan movement and Hong Kong equities

“We believe Hang Seng Index will be highly volatile in the beginning but may end up higher on Monday”; market should benefit from a rebound in yuan and gains in U.S. equities

Goldman Sachs (economists including MK Tang)

Reserve requirement on forwards “points to policy discomfort with the rapid pace of CNY depreciation, although any unfavorable incoming data and news could still take the currency weaker”

Substantial weakening pressure on yuan has probably made authorities wary of the risk of an adverse feedback loop, as happened in 2015-16

“More generally though, we believe the broad framework of CNY management probably remains the same — i.e., the authorities still tend to be comfortable with market-driven CNY moves, so long as they are perceived to be in line with changes in the economic outlook and are not too rapid (like the pace in the last couple of days)”

CIBC (Bipan Rai, strategist)

To examine the degree of potential outflows, market can watch the performance of the Shanghai Composite; “If we continue to extend lower, that could exacerbate a risk-off tone and a bid for traditional safe haven assets including Treasuries”

Banco Bilbao Vizcaya Argentaria (Xia Le, chief Asia economist)

Move shows the PBOC is increasingly concerned with the yuan’s depreciation, which could lead to a chain reaction and trigger capital flight

Acting in the forwards market first suggests the PBOC wants to target short sellers

The central bank will use further measures to reverse the market’s overly bearish expectations on the yuan, which will remain basically stable against a basket of currencies in the near term

The currency’s long-term fate hinges on the trade war

ING (Viraj Patel, strategist)

Chinese officials likely “noted something different in CNY trading dynamics in recent days — since the US tariff threat earlier in the week — and felt the need to step in”

While on the margin this adjustment may weigh on USD sentiment, “the question is whether it can actually stop the trend of a weaker CNY”

“As for the immediate future, this will be seen as a solid statement of intent from the PBOC that they have little desire to see trading with a 7.00 handle. But 2015/2016 tells us that you can’t always have what you want”

Read More https://worldwide-finance.net/news/commodities-futures-news/chinas-yuan-pares-gains-stocks-decline-as-trade-worry-persists

[jettadarkwynd]

China's Yuan Pares Gains, Stocks Decline as Trade Worry Persists

New Post has been published on https://worldwide-finance.net/news/commodities-futures-news/chinas-yuan-pares-gains-stocks-decline-as-trade-worry-persists

China's Yuan Pares Gains, Stocks Decline as Trade Worry Persists

© Bloomberg. Employees arrange boxes at Best Inc.’s warehouse in Shanghai, China, on Monday, Nov. 6, 2017. Photographer: Qilai Shen/Bloomberg

(Bloomberg) — China’s yuan pared gains and mainland equities declined, as markets tried to find direction after trade tension with the U.S. escalated further over the weekend and Chinese authorities announced a measure to support the yuan late Friday.

The onshore yuan trimmed earlier gains and was little changed at 6.8300 per dollar as of 1:15 p.m. The People’s Bank of China set the daily reference rate at 6.8513, the weakest since May last year, though in line with analyst expectations. The fell 0.6 percent and the ChiNext gauge slid 1.5 percent. Hong Kong’s held on to gains after falling every day last week.

“The market is still worried about the outlook in the trade war, so people are very cautious,” said Qian Qimin, an analyst with Shenwan Hongyuan Group Co. “They are dumping smaller caps first as their valuations are higher.”

Shanghai-based Qian said the next key level to watch for the Shanghai Composite is 2,691, a low it hit on July 6. If the index falls below that, it would hurt confidence and the selloff could escalate, he said. The benchmark was at 2,723 Monday, down 23 percent from its January high.

Here’s a look at some of the moves on Monday:

GCL-Poly Shares Tumble as $1.9 Billion Unit Sale Collapses

Chinese Pig Breeders Slump After African Swine Fever Breaks Out

China Financials Lead Gains as PBOC’s Move Lifts Confidence

Yuan Climbs as Central Bank Raises Cost to Short: Inside China

Google (NASDAQ:) Is Said in Talks With Tencent, Inspur for China Cloud

Zhang Gang, Shanghai-based strategist with Central China Securities Co.:

China’s central bank doesn’t want the currency to drop further and it will take more actions if depreciation expectations grow

Given the latest development in the trade war, investors may have come to realize that it’s going to be a process of tensions and negotiations, and it’s unlikely for both sides to come up with any extreme moves.

On Friday evening:

The PBOC said it will impose a reserve requirement of 20 percent on some trading of foreign-exchange forward contracts. That will effectively make it more expensive to short the yuan, which fell on Friday to the lowest since May 2017

And about an hour later, officials released a list of $60 billion in U.S. goods that Beijing intends to hit with tariffs, in retaliation for Trump’s plan to impose duties on $200 billion in Chinese imports.

The timing of the announcements seemed coordinated to avoid kneejerk declines in China’s currency from the tariff proposal, according to Deutsche Bank AG (DE:). Imposing a levy on forward trades is a tactic that the central bank used to stabilize the yuan against the dollar in the aftermath of its shock devaluation in 2015. China’s currency and stocks are both among the world’s worst performers over the past three months.

“The yuan kept falling when China did this last time in 2015, so I don’t think the PBOC’s move will significantly change the market tone,” Hao Hong, chief strategist at Bocom International Holdings Co., said by phone. “The trade war is nowhere near its end and China’s economy is slowing down, so why would the trend reverse?”

The Ministry of Finance said that duties ranging from 5 percent to 25 percent will be levied on more than 5,000 categories of American imports if the U.S. delivers its proposed taxes on another $200 billion of Chinese goods. The list targets everything from planes and computers to wigs and textiles, with the highest tariff applying to more than 2,400 products such as meat, wheat, wine and liquefied .

The effective additional tariff rate is about 13 percent, which is much less than a proportional retaliation, Goldman Sachs Group Inc (NYSE:). economists wrote in a note. “Nevertheless, this measure still marks a step up in US-China trade tensions.”

“The news headlines from Friday will have some negative impact on share market sentiment,” said Dai Ming, Shanghai-based fund manager with Hengsheng Asset Management Co., who added that he doesn’t expect Chinese equities to recover until there’s evidence that the trade dispute is being resolved. “The stock market isn’t the government’s priority.”

China’s stock woes have caught the attention of U.S. President Donald Trump, who tweeted about the market’s underperformance versus U.S. shares on Saturday and told a rally in Ohio that the declines are weakening that nation’s bargaining power in the trade war. And White House economic adviser Larry Kudlow suggested Friday that China is letting its currency fall to offset losses from the trade war, though he added that the decline is partly due to weak economic fundamentals.

Eight straight weeks of losses have brought the yuan close to 7 per dollar, a level it hasn’t reached in more than a decade. Analysts had identified that as a key milestone where officials may seek to arrest declines, to counteract the mounting risk of capital outflows. China burned through foreign reserves propping up its currency after the devaluation almost three years ago spurred a rush to take money out of the country.

The levy on forwards is aimed at preventing macro financial risks as the foreign-exchange market shows signs of volatility amid recent trade frictions, and shouldn’t be interpreted as a capital control, according to the PBOC.

What else to watch:

Data on China’s second quarter current-account balance is due Monday. The nation is likely to report a deficit for the first six months, the first time that’s happened since China started to publish the statistic on a half yearly basis in 1998, according to Deutsche Bank, which cut its year-end forecast for the yuan to 6.95 per dollar from 6.8 on Aug. 1

If the Shanghai Composite falls just 0.3 percent on Monday, it’ll return to a 2 1/2-year low

An update on China’s foreign-exchange reserves for July is due Tuesday, with analysts expecting a slight decline

And China trade figures for July are scheduled for Wednesday.

Here are additional analyst comments on the Friday night news, and how it may impact markets:

Deutsche Bank (Alan Ruskin, global co-head of foreign-exchange research)

Shows some good faith that China is not encouraging yuan weakness, “even if there is a widespread sense in the market that they have hitherto been ok with a benign neglect stance on the currency”

China may be keeping some powder dry to use currency as a trade tool later if needed, recognizing that the yuan weakening past 7 would be seen by the U.S. as an act of retaliation

There’s a policy contradiction in that China is seeking to keep local liquidity flush, while also trying to slow or stop the yuan weakening; this “will be the biggest challenge for the authorities”

Hengsheng Asset Management Co. (Dai Ming, fund manager)

“Everything is about stability now”: watch for further measures to cushion the economy

“To stabilize foreign trade and to offset the impact from U.S. tariffs, the yuan will have to gradually depreciate. There is no better way”

Some policy signals have been confusing, such as whether officials are continuing with their deleveraging campaign and whether China would defend the yuan at 6.7 per dollar; “it’s too hard to make calls unless investors can get a clear understanding of China’s strategy”

Everbright Sun Hung Kai Co. (Kenny Wen, strategist)

While investors will focus on A shares and the yuan, Hong Kong stocks will be affected as well given that many H-share companies are dual-listed and there is an increasing correlation between yuan movement and Hong Kong equities

“We believe Hang Seng Index will be highly volatile in the beginning but may end up higher on Monday”; market should benefit from a rebound in yuan and gains in U.S. equities

Goldman Sachs (economists including MK Tang)

Reserve requirement on forwards “points to policy discomfort with the rapid pace of CNY depreciation, although any unfavorable incoming data and news could still take the currency weaker”

Substantial weakening pressure on yuan has probably made authorities wary of the risk of an adverse feedback loop, as happened in 2015-16

“More generally though, we believe the broad framework of CNY management probably remains the same — i.e., the authorities still tend to be comfortable with market-driven CNY moves, so long as they are perceived to be in line with changes in the economic outlook and are not too rapid (like the pace in the last couple of days)”

CIBC (Bipan Rai, strategist)

To examine the degree of potential outflows, market can watch the performance of the Shanghai Composite; “If we continue to extend lower, that could exacerbate a risk-off tone and a bid for traditional safe haven assets including Treasuries”

Banco Bilbao Vizcaya Argentaria (Xia Le, chief Asia economist)

Move shows the PBOC is increasingly concerned with the yuan’s depreciation, which could lead to a chain reaction and trigger capital flight

Acting in the forwards market first suggests the PBOC wants to target short sellers

The central bank will use further measures to reverse the market’s overly bearish expectations on the yuan, which will remain basically stable against a basket of currencies in the near term

The currency’s long-term fate hinges on the trade war

ING (Viraj Patel, strategist)

Chinese officials likely “noted something different in CNY trading dynamics in recent days — since the US tariff threat earlier in the week — and felt the need to step in”

While on the margin this adjustment may weigh on USD sentiment, “the question is whether it can actually stop the trend of a weaker CNY”

“As for the immediate future, this will be seen as a solid statement of intent from the PBOC that they have little desire to see trading with a 7.00 handle. But 2015/2016 tells us that you can’t always have what you want”

Read More https://worldwide-finance.net/news/commodities-futures-news/chinas-yuan-pares-gains-stocks-decline-as-trade-worry-persists

[cute1dfacts]

China's Yuan Pares Gains, Stocks Decline as Trade Worry Persists

New Post has been published on https://worldwide-finance.net/news/commodities-futures-news/chinas-yuan-pares-gains-stocks-decline-as-trade-worry-persists

China's Yuan Pares Gains, Stocks Decline as Trade Worry Persists

© Bloomberg. Employees arrange boxes at Best Inc.’s warehouse in Shanghai, China, on Monday, Nov. 6, 2017. Photographer: Qilai Shen/Bloomberg

(Bloomberg) — China’s yuan pared gains and mainland equities declined, as markets tried to find direction after trade tension with the U.S. escalated further over the weekend and Chinese authorities announced a measure to support the yuan late Friday.

The onshore yuan trimmed earlier gains and was little changed at 6.8300 per dollar as of 1:15 p.m. The People’s Bank of China set the daily reference rate at 6.8513, the weakest since May last year, though in line with analyst expectations. The fell 0.6 percent and the ChiNext gauge slid 1.5 percent. Hong Kong’s held on to gains after falling every day last week.

“The market is still worried about the outlook in the trade war, so people are very cautious,” said Qian Qimin, an analyst with Shenwan Hongyuan Group Co. “They are dumping smaller caps first as their valuations are higher.”

Shanghai-based Qian said the next key level to watch for the Shanghai Composite is 2,691, a low it hit on July 6. If the index falls below that, it would hurt confidence and the selloff could escalate, he said. The benchmark was at 2,723 Monday, down 23 percent from its January high.

Here’s a look at some of the moves on Monday:

GCL-Poly Shares Tumble as $1.9 Billion Unit Sale Collapses

Chinese Pig Breeders Slump After African Swine Fever Breaks Out

China Financials Lead Gains as PBOC’s Move Lifts Confidence

Yuan Climbs as Central Bank Raises Cost to Short: Inside China

Google (NASDAQ:) Is Said in Talks With Tencent, Inspur for China Cloud

Zhang Gang, Shanghai-based strategist with Central China Securities Co.:

China’s central bank doesn’t want the currency to drop further and it will take more actions if depreciation expectations grow

Given the latest development in the trade war, investors may have come to realize that it’s going to be a process of tensions and negotiations, and it’s unlikely for both sides to come up with any extreme moves.

On Friday evening:

The PBOC said it will impose a reserve requirement of 20 percent on some trading of foreign-exchange forward contracts. That will effectively make it more expensive to short the yuan, which fell on Friday to the lowest since May 2017

And about an hour later, officials released a list of $60 billion in U.S. goods that Beijing intends to hit with tariffs, in retaliation for Trump’s plan to impose duties on $200 billion in Chinese imports.

The timing of the announcements seemed coordinated to avoid kneejerk declines in China’s currency from the tariff proposal, according to Deutsche Bank AG (DE:). Imposing a levy on forward trades is a tactic that the central bank used to stabilize the yuan against the dollar in the aftermath of its shock devaluation in 2015. China’s currency and stocks are both among the world’s worst performers over the past three months.

“The yuan kept falling when China did this last time in 2015, so I don’t think the PBOC’s move will significantly change the market tone,” Hao Hong, chief strategist at Bocom International Holdings Co., said by phone. “The trade war is nowhere near its end and China’s economy is slowing down, so why would the trend reverse?”

The Ministry of Finance said that duties ranging from 5 percent to 25 percent will be levied on more than 5,000 categories of American imports if the U.S. delivers its proposed taxes on another $200 billion of Chinese goods. The list targets everything from planes and computers to wigs and textiles, with the highest tariff applying to more than 2,400 products such as meat, wheat, wine and liquefied .

The effective additional tariff rate is about 13 percent, which is much less than a proportional retaliation, Goldman Sachs Group Inc (NYSE:). economists wrote in a note. “Nevertheless, this measure still marks a step up in US-China trade tensions.”

“The news headlines from Friday will have some negative impact on share market sentiment,” said Dai Ming, Shanghai-based fund manager with Hengsheng Asset Management Co., who added that he doesn’t expect Chinese equities to recover until there’s evidence that the trade dispute is being resolved. “The stock market isn’t the government’s priority.”

China’s stock woes have caught the attention of U.S. President Donald Trump, who tweeted about the market’s underperformance versus U.S. shares on Saturday and told a rally in Ohio that the declines are weakening that nation’s bargaining power in the trade war. And White House economic adviser Larry Kudlow suggested Friday that China is letting its currency fall to offset losses from the trade war, though he added that the decline is partly due to weak economic fundamentals.

Eight straight weeks of losses have brought the yuan close to 7 per dollar, a level it hasn’t reached in more than a decade. Analysts had identified that as a key milestone where officials may seek to arrest declines, to counteract the mounting risk of capital outflows. China burned through foreign reserves propping up its currency after the devaluation almost three years ago spurred a rush to take money out of the country.

The levy on forwards is aimed at preventing macro financial risks as the foreign-exchange market shows signs of volatility amid recent trade frictions, and shouldn’t be interpreted as a capital control, according to the PBOC.

What else to watch:

Data on China’s second quarter current-account balance is due Monday. The nation is likely to report a deficit for the first six months, the first time that’s happened since China started to publish the statistic on a half yearly basis in 1998, according to Deutsche Bank, which cut its year-end forecast for the yuan to 6.95 per dollar from 6.8 on Aug. 1

If the Shanghai Composite falls just 0.3 percent on Monday, it’ll return to a 2 1/2-year low

An update on China’s foreign-exchange reserves for July is due Tuesday, with analysts expecting a slight decline

And China trade figures for July are scheduled for Wednesday.

Here are additional analyst comments on the Friday night news, and how it may impact markets:

Deutsche Bank (Alan Ruskin, global co-head of foreign-exchange research)

Shows some good faith that China is not encouraging yuan weakness, “even if there is a widespread sense in the market that they have hitherto been ok with a benign neglect stance on the currency”

China may be keeping some powder dry to use currency as a trade tool later if needed, recognizing that the yuan weakening past 7 would be seen by the U.S. as an act of retaliation

There’s a policy contradiction in that China is seeking to keep local liquidity flush, while also trying to slow or stop the yuan weakening; this “will be the biggest challenge for the authorities”

Hengsheng Asset Management Co. (Dai Ming, fund manager)

“Everything is about stability now”: watch for further measures to cushion the economy

“To stabilize foreign trade and to offset the impact from U.S. tariffs, the yuan will have to gradually depreciate. There is no better way”

Some policy signals have been confusing, such as whether officials are continuing with their deleveraging campaign and whether China would defend the yuan at 6.7 per dollar; “it’s too hard to make calls unless investors can get a clear understanding of China’s strategy”

Everbright Sun Hung Kai Co. (Kenny Wen, strategist)

While investors will focus on A shares and the yuan, Hong Kong stocks will be affected as well given that many H-share companies are dual-listed and there is an increasing correlation between yuan movement and Hong Kong equities

“We believe Hang Seng Index will be highly volatile in the beginning but may end up higher on Monday”; market should benefit from a rebound in yuan and gains in U.S. equities

Goldman Sachs (economists including MK Tang)

Reserve requirement on forwards “points to policy discomfort with the rapid pace of CNY depreciation, although any unfavorable incoming data and news could still take the currency weaker”

Substantial weakening pressure on yuan has probably made authorities wary of the risk of an adverse feedback loop, as happened in 2015-16

“More generally though, we believe the broad framework of CNY management probably remains the same — i.e., the authorities still tend to be comfortable with market-driven CNY moves, so long as they are perceived to be in line with changes in the economic outlook and are not too rapid (like the pace in the last couple of days)”

CIBC (Bipan Rai, strategist)

To examine the degree of potential outflows, market can watch the performance of the Shanghai Composite; “If we continue to extend lower, that could exacerbate a risk-off tone and a bid for traditional safe haven assets including Treasuries”

Banco Bilbao Vizcaya Argentaria (Xia Le, chief Asia economist)

Move shows the PBOC is increasingly concerned with the yuan’s depreciation, which could lead to a chain reaction and trigger capital flight

Acting in the forwards market first suggests the PBOC wants to target short sellers

The central bank will use further measures to reverse the market’s overly bearish expectations on the yuan, which will remain basically stable against a basket of currencies in the near term

The currency’s long-term fate hinges on the trade war

ING (Viraj Patel, strategist)

Chinese officials likely “noted something different in CNY trading dynamics in recent days — since the US tariff threat earlier in the week — and felt the need to step in”

While on the margin this adjustment may weigh on USD sentiment, “the question is whether it can actually stop the trend of a weaker CNY”

“As for the immediate future, this will be seen as a solid statement of intent from the PBOC that they have little desire to see trading with a 7.00 handle. But 2015/2016 tells us that you can’t always have what you want”

Read More https://worldwide-finance.net/news/commodities-futures-news/chinas-yuan-pares-gains-stocks-decline-as-trade-worry-persists

[howfrankplay]

山給了你什麼？給了我時間在山上專注做一件事放鬆心情，從對面合歡山看向奇萊北峰，真的發現自己在這大自然很渺小，要懂得珍惜下到山下的時光。 我的第13座百岳，近期走向山裡都沒一定要追求數量，以前總是覺得不管怎樣就是要攻頂，後來覺得可以出來走走就好。 原本走奇萊北壁下屏風的行程，因為積雪，果斷的早在前一天就放棄重裝上稜，只背了食物加上攝影器材大概10kg上去，5點半出發走2公里多的路用3小時20分攻頂，好像是走的有點慢。 原本時間足夠讓我去主山，但為了拍北壁而放棄去主峰，北峰真的很壯觀，花點時間在這裡也不錯。對我來說，山永遠都在下次再來就好，可以走個奇萊連峰。從北峰回到稜線後去參觀稜線山屋一趟，也慶幸沒住在這裡，真的很小。 參觀完稜線山屋回程遇到大風吹，最慘的是主北岔路比北主岔路結了更多冰，在路上硬是小摔了兩三次，不過也無傷大雅。 在北峰的時候就計算��出到登山口的可能性，回到山屋也覺得可能摸小黑就可以出到登山口，當下也快速的打包就出發，畢竟騎車爬山是有預算的，能省則省。 奇萊主北跟大部分的山不太一樣，撇除縱走路線，得留些體力給主北回程，最後3.6公里需要爬升400m，也是一個完美ending吧？ 更多照片歡迎追蹤(For more photos, you’re welcome to follow): @howfrankplay https://www.instagram.com/howfrankplay Blog: https://94frank.com #山 #mountain #mountains #mount #mounts #岳 #登山 #爬山 #hiking #mountaineering #mountainclimbing #登山步道 #奇萊群峰 #下雪 #奇萊北壁 #奇萊主北 #qilai #qilainorthpeak #chilainorthpeak #mountchilai #mountqilai #mtchilai #mtqilai #mountainchilai #mountainqilai #奇萊北峰下屏風山 #奇萊北壁下屏風 #騎車爬山 #百岳 #奇萊北峰 （在 奇萊北峰） https://www.instagram.com/p/CL1qTv7F0yR/?igshid=s5d6hzomkkl8

[hbclife]

Bangladesh tries to secure wheat from Russia as India stops exports: Sources

Bangladesh tries to secure wheat from Russia as India stops exports: Sources

A harvester and a tractor collect wheat from a field before it will be turned to rice paddies on Chongming Island, in Shanghai, China, on Thursday, June 2, 2022. With the world facing mounting food insecurity because of shortages and soaring costs, governments will be watching rice prices for any sign that political unrest is about to erupt. Photographer: Qilai Shen/Bloomberg Bangladesh is…

[breakbit]

China's Yuan Pares Gains, Stocks Decline as Trade Worry Persists

New Post has been published on https://worldwide-finance.net/news/commodities-futures-news/chinas-yuan-pares-gains-stocks-decline-as-trade-worry-persists

China's Yuan Pares Gains, Stocks Decline as Trade Worry Persists

© Bloomberg. Employees arrange boxes at Best Inc.’s warehouse in Shanghai, China, on Monday, Nov. 6, 2017. Photographer: Qilai Shen/Bloomberg

(Bloomberg) — China’s yuan pared gains and mainland equities declined, as markets tried to find direction after trade tension with the U.S. escalated further over the weekend and Chinese authorities announced a measure to support the yuan late Friday.

The onshore yuan trimmed earlier gains and was little changed at 6.8300 per dollar as of 1:15 p.m. The People’s Bank of China set the daily reference rate at 6.8513, the weakest since May last year, though in line with analyst expectations. The fell 0.6 percent and the ChiNext gauge slid 1.5 percent. Hong Kong’s held on to gains after falling every day last week.

“The market is still worried about the outlook in the trade war, so people are very cautious,” said Qian Qimin, an analyst with Shenwan Hongyuan Group Co. “They are dumping smaller caps first as their valuations are higher.”

Shanghai-based Qian said the next key level to watch for the Shanghai Composite is 2,691, a low it hit on July 6. If the index falls below that, it would hurt confidence and the selloff could escalate, he said. The benchmark was at 2,723 Monday, down 23 percent from its January high.

Here’s a look at some of the moves on Monday:

GCL-Poly Shares Tumble as $1.9 Billion Unit Sale Collapses

Chinese Pig Breeders Slump After African Swine Fever Breaks Out

China Financials Lead Gains as PBOC’s Move Lifts Confidence

Yuan Climbs as Central Bank Raises Cost to Short: Inside China

Google (NASDAQ:) Is Said in Talks With Tencent, Inspur for China Cloud

Zhang Gang, Shanghai-based strategist with Central China Securities Co.:

China’s central bank doesn’t want the currency to drop further and it will take more actions if depreciation expectations grow

Given the latest development in the trade war, investors may have come to realize that it’s going to be a process of tensions and negotiations, and it’s unlikely for both sides to come up with any extreme moves.

On Friday evening:

The PBOC said it will impose a reserve requirement of 20 percent on some trading of foreign-exchange forward contracts. That will effectively make it more expensive to short the yuan, which fell on Friday to the lowest since May 2017

And about an hour later, officials released a list of $60 billion in U.S. goods that Beijing intends to hit with tariffs, in retaliation for Trump’s plan to impose duties on $200 billion in Chinese imports.

The timing of the announcements seemed coordinated to avoid kneejerk declines in China’s currency from the tariff proposal, according to Deutsche Bank AG (DE:). Imposing a levy on forward trades is a tactic that the central bank used to stabilize the yuan against the dollar in the aftermath of its shock devaluation in 2015. China’s currency and stocks are both among the world’s worst performers over the past three months.

“The yuan kept falling when China did this last time in 2015, so I don’t think the PBOC’s move will significantly change the market tone,” Hao Hong, chief strategist at Bocom International Holdings Co., said by phone. “The trade war is nowhere near its end and China’s economy is slowing down, so why would the trend reverse?”

The Ministry of Finance said that duties ranging from 5 percent to 25 percent will be levied on more than 5,000 categories of American imports if the U.S. delivers its proposed taxes on another $200 billion of Chinese goods. The list targets everything from planes and computers to wigs and textiles, with the highest tariff applying to more than 2,400 products such as meat, wheat, wine and liquefied .

The effective additional tariff rate is about 13 percent, which is much less than a proportional retaliation, Goldman Sachs Group Inc (NYSE:). economists wrote in a note. “Nevertheless, this measure still marks a step up in US-China trade tensions.”

“The news headlines from Friday will have some negative impact on share market sentiment,” said Dai Ming, Shanghai-based fund manager with Hengsheng Asset Management Co., who added that he doesn’t expect Chinese equities to recover until there’s evidence that the trade dispute is being resolved. “The stock market isn’t the government’s priority.”

China’s stock woes have caught the attention of U.S. President Donald Trump, who tweeted about the market’s underperformance versus U.S. shares on Saturday and told a rally in Ohio that the declines are weakening that nation’s bargaining power in the trade war. And White House economic adviser Larry Kudlow suggested Friday that China is letting its currency fall to offset losses from the trade war, though he added that the decline is partly due to weak economic fundamentals.

Eight straight weeks of losses have brought the yuan close to 7 per dollar, a level it hasn’t reached in more than a decade. Analysts had identified that as a key milestone where officials may seek to arrest declines, to counteract the mounting risk of capital outflows. China burned through foreign reserves propping up its currency after the devaluation almost three years ago spurred a rush to take money out of the country.

The levy on forwards is aimed at preventing macro financial risks as the foreign-exchange market shows signs of volatility amid recent trade frictions, and shouldn’t be interpreted as a capital control, according to the PBOC.

What else to watch:

Data on China’s second quarter current-account balance is due Monday. The nation is likely to report a deficit for the first six months, the first time that’s happened since China started to publish the statistic on a half yearly basis in 1998, according to Deutsche Bank, which cut its year-end forecast for the yuan to 6.95 per dollar from 6.8 on Aug. 1

If the Shanghai Composite falls just 0.3 percent on Monday, it’ll return to a 2 1/2-year low

An update on China’s foreign-exchange reserves for July is due Tuesday, with analysts expecting a slight decline

And China trade figures for July are scheduled for Wednesday.

Here are additional analyst comments on the Friday night news, and how it may impact markets:

Deutsche Bank (Alan Ruskin, global co-head of foreign-exchange research)

Shows some good faith that China is not encouraging yuan weakness, “even if there is a widespread sense in the market that they have hitherto been ok with a benign neglect stance on the currency”

China may be keeping some powder dry to use currency as a trade tool later if needed, recognizing that the yuan weakening past 7 would be seen by the U.S. as an act of retaliation

There’s a policy contradiction in that China is seeking to keep local liquidity flush, while also trying to slow or stop the yuan weakening; this “will be the biggest challenge for the authorities”

Hengsheng Asset Management Co. (Dai Ming, fund manager)

“Everything is about stability now”: watch for further measures to cushion the economy

“To stabilize foreign trade and to offset the impact from U.S. tariffs, the yuan will have to gradually depreciate. There is no better way”

Some policy signals have been confusing, such as whether officials are continuing with their deleveraging campaign and whether China would defend the yuan at 6.7 per dollar; “it’s too hard to make calls unless investors can get a clear understanding of China’s strategy”

Everbright Sun Hung Kai Co. (Kenny Wen, strategist)

While investors will focus on A shares and the yuan, Hong Kong stocks will be affected as well given that many H-share companies are dual-listed and there is an increasing correlation between yuan movement and Hong Kong equities

“We believe Hang Seng Index will be highly volatile in the beginning but may end up higher on Monday”; market should benefit from a rebound in yuan and gains in U.S. equities

Goldman Sachs (economists including MK Tang)

Reserve requirement on forwards “points to policy discomfort with the rapid pace of CNY depreciation, although any unfavorable incoming data and news could still take the currency weaker”

Substantial weakening pressure on yuan has probably made authorities wary of the risk of an adverse feedback loop, as happened in 2015-16

“More generally though, we believe the broad framework of CNY management probably remains the same — i.e., the authorities still tend to be comfortable with market-driven CNY moves, so long as they are perceived to be in line with changes in the economic outlook and are not too rapid (like the pace in the last couple of days)”

CIBC (Bipan Rai, strategist)

To examine the degree of potential outflows, market can watch the performance of the Shanghai Composite; “If we continue to extend lower, that could exacerbate a risk-off tone and a bid for traditional safe haven assets including Treasuries”

Banco Bilbao Vizcaya Argentaria (Xia Le, chief Asia economist)

Move shows the PBOC is increasingly concerned with the yuan’s depreciation, which could lead to a chain reaction and trigger capital flight

Acting in the forwards market first suggests the PBOC wants to target short sellers

The central bank will use further measures to reverse the market’s overly bearish expectations on the yuan, which will remain basically stable against a basket of currencies in the near term

The currency’s long-term fate hinges on the trade war

ING (Viraj Patel, strategist)

Chinese officials likely “noted something different in CNY trading dynamics in recent days — since the US tariff threat earlier in the week — and felt the need to step in”

While on the margin this adjustment may weigh on USD sentiment, “the question is whether it can actually stop the trend of a weaker CNY”

“As for the immediate future, this will be seen as a solid statement of intent from the PBOC that they have little desire to see trading with a 7.00 handle. But 2015/2016 tells us that you can’t always have what you want”

Read More https://worldwide-finance.net/news/commodities-futures-news/chinas-yuan-pares-gains-stocks-decline-as-trade-worry-persists

[taylordmorris]

China's Yuan Pares Gains, Stocks Decline as Trade Worry Persists

New Post has been published on https://worldwide-finance.net/news/commodities-futures-news/chinas-yuan-pares-gains-stocks-decline-as-trade-worry-persists

China's Yuan Pares Gains, Stocks Decline as Trade Worry Persists

© Bloomberg. Employees arrange boxes at Best Inc.’s warehouse in Shanghai, China, on Monday, Nov. 6, 2017. Photographer: Qilai Shen/Bloomberg

(Bloomberg) — China’s yuan pared gains and mainland equities declined, as markets tried to find direction after trade tension with the U.S. escalated further over the weekend and Chinese authorities announced a measure to support the yuan late Friday.

The onshore yuan trimmed earlier gains and was little changed at 6.8300 per dollar as of 1:15 p.m. The People’s Bank of China set the daily reference rate at 6.8513, the weakest since May last year, though in line with analyst expectations. The fell 0.6 percent and the ChiNext gauge slid 1.5 percent. Hong Kong’s held on to gains after falling every day last week.

“The market is still worried about the outlook in the trade war, so people are very cautious,” said Qian Qimin, an analyst with Shenwan Hongyuan Group Co. “They are dumping smaller caps first as their valuations are higher.”

Shanghai-based Qian said the next key level to watch for the Shanghai Composite is 2,691, a low it hit on July 6. If the index falls below that, it would hurt confidence and the selloff could escalate, he said. The benchmark was at 2,723 Monday, down 23 percent from its January high.

Here’s a look at some of the moves on Monday:

GCL-Poly Shares Tumble as $1.9 Billion Unit Sale Collapses

Chinese Pig Breeders Slump After African Swine Fever Breaks Out

China Financials Lead Gains as PBOC’s Move Lifts Confidence

Yuan Climbs as Central Bank Raises Cost to Short: Inside China

Google (NASDAQ:) Is Said in Talks With Tencent, Inspur for China Cloud

Zhang Gang, Shanghai-based strategist with Central China Securities Co.:

China’s central bank doesn’t want the currency to drop further and it will take more actions if depreciation expectations grow

Given the latest development in the trade war, investors may have come to realize that it’s going to be a process of tensions and negotiations, and it’s unlikely for both sides to come up with any extreme moves.

On Friday evening:

The PBOC said it will impose a reserve requirement of 20 percent on some trading of foreign-exchange forward contracts. That will effectively make it more expensive to short the yuan, which fell on Friday to the lowest since May 2017

And about an hour later, officials released a list of $60 billion in U.S. goods that Beijing intends to hit with tariffs, in retaliation for Trump’s plan to impose duties on $200 billion in Chinese imports.

The timing of the announcements seemed coordinated to avoid kneejerk declines in China’s currency from the tariff proposal, according to Deutsche Bank AG (DE:). Imposing a levy on forward trades is a tactic that the central bank used to stabilize the yuan against the dollar in the aftermath of its shock devaluation in 2015. China’s currency and stocks are both among the world’s worst performers over the past three months.

“The yuan kept falling when China did this last time in 2015, so I don’t think the PBOC’s move will significantly change the market tone,” Hao Hong, chief strategist at Bocom International Holdings Co., said by phone. “The trade war is nowhere near its end and China’s economy is slowing down, so why would the trend reverse?”

The Ministry of Finance said that duties ranging from 5 percent to 25 percent will be levied on more than 5,000 categories of American imports if the U.S. delivers its proposed taxes on another $200 billion of Chinese goods. The list targets everything from planes and computers to wigs and textiles, with the highest tariff applying to more than 2,400 products such as meat, wheat, wine and liquefied .

The effective additional tariff rate is about 13 percent, which is much less than a proportional retaliation, Goldman Sachs Group Inc (NYSE:). economists wrote in a note. “Nevertheless, this measure still marks a step up in US-China trade tensions.”

“The news headlines from Friday will have some negative impact on share market sentiment,” said Dai Ming, Shanghai-based fund manager with Hengsheng Asset Management Co., who added that he doesn’t expect Chinese equities to recover until there’s evidence that the trade dispute is being resolved. “The stock market isn’t the government’s priority.”

China’s stock woes have caught the attention of U.S. President Donald Trump, who tweeted about the market’s underperformance versus U.S. shares on Saturday and told a rally in Ohio that the declines are weakening that nation’s bargaining power in the trade war. And White House economic adviser Larry Kudlow suggested Friday that China is letting its currency fall to offset losses from the trade war, though he added that the decline is partly due to weak economic fundamentals.

Eight straight weeks of losses have brought the yuan close to 7 per dollar, a level it hasn’t reached in more than a decade. Analysts had identified that as a key milestone where officials may seek to arrest declines, to counteract the mounting risk of capital outflows. China burned through foreign reserves propping up its currency after the devaluation almost three years ago spurred a rush to take money out of the country.

The levy on forwards is aimed at preventing macro financial risks as the foreign-exchange market shows signs of volatility amid recent trade frictions, and shouldn’t be interpreted as a capital control, according to the PBOC.

What else to watch:

Data on China’s second quarter current-account balance is due Monday. The nation is likely to report a deficit for the first six months, the first time that’s happened since China started to publish the statistic on a half yearly basis in 1998, according to Deutsche Bank, which cut its year-end forecast for the yuan to 6.95 per dollar from 6.8 on Aug. 1

If the Shanghai Composite falls just 0.3 percent on Monday, it’ll return to a 2 1/2-year low

An update on China’s foreign-exchange reserves for July is due Tuesday, with analysts expecting a slight decline

And China trade figures for July are scheduled for Wednesday.

Here are additional analyst comments on the Friday night news, and how it may impact markets:

Deutsche Bank (Alan Ruskin, global co-head of foreign-exchange research)

Shows some good faith that China is not encouraging yuan weakness, “even if there is a widespread sense in the market that they have hitherto been ok with a benign neglect stance on the currency”

China may be keeping some powder dry to use currency as a trade tool later if needed, recognizing that the yuan weakening past 7 would be seen by the U.S. as an act of retaliation

There’s a policy contradiction in that China is seeking to keep local liquidity flush, while also trying to slow or stop the yuan weakening; this “will be the biggest challenge for the authorities”

Hengsheng Asset Management Co. (Dai Ming, fund manager)

“Everything is about stability now”: watch for further measures to cushion the economy

“To stabilize foreign trade and to offset the impact from U.S. tariffs, the yuan will have to gradually depreciate. There is no better way”

Some policy signals have been confusing, such as whether officials are continuing with their deleveraging campaign and whether China would defend the yuan at 6.7 per dollar; “it’s too hard to make calls unless investors can get a clear understanding of China’s strategy”

Everbright Sun Hung Kai Co. (Kenny Wen, strategist)

While investors will focus on A shares and the yuan, Hong Kong stocks will be affected as well given that many H-share companies are dual-listed and there is an increasing correlation between yuan movement and Hong Kong equities

“We believe Hang Seng Index will be highly volatile in the beginning but may end up higher on Monday”; market should benefit from a rebound in yuan and gains in U.S. equities

Goldman Sachs (economists including MK Tang)

Reserve requirement on forwards “points to policy discomfort with the rapid pace of CNY depreciation, although any unfavorable incoming data and news could still take the currency weaker”

Substantial weakening pressure on yuan has probably made authorities wary of the risk of an adverse feedback loop, as happened in 2015-16

“More generally though, we believe the broad framework of CNY management probably remains the same — i.e., the authorities still tend to be comfortable with market-driven CNY moves, so long as they are perceived to be in line with changes in the economic outlook and are not too rapid (like the pace in the last couple of days)”

CIBC (Bipan Rai, strategist)

To examine the degree of potential outflows, market can watch the performance of the Shanghai Composite; “If we continue to extend lower, that could exacerbate a risk-off tone and a bid for traditional safe haven assets including Treasuries”

Banco Bilbao Vizcaya Argentaria (Xia Le, chief Asia economist)

Move shows the PBOC is increasingly concerned with the yuan’s depreciation, which could lead to a chain reaction and trigger capital flight

Acting in the forwards market first suggests the PBOC wants to target short sellers

The central bank will use further measures to reverse the market’s overly bearish expectations on the yuan, which will remain basically stable against a basket of currencies in the near term

The currency’s long-term fate hinges on the trade war

ING (Viraj Patel, strategist)

Chinese officials likely “noted something different in CNY trading dynamics in recent days — since the US tariff threat earlier in the week — and felt the need to step in”

While on the margin this adjustment may weigh on USD sentiment, “the question is whether it can actually stop the trend of a weaker CNY”

“As for the immediate future, this will be seen as a solid statement of intent from the PBOC that they have little desire to see trading with a 7.00 handle. But 2015/2016 tells us that you can’t always have what you want”

Read More https://worldwide-finance.net/news/commodities-futures-news/chinas-yuan-pares-gains-stocks-decline-as-trade-worry-persists

[kevinjona4]

One billion surveillance cameras will be watching globally in 2021

One billion surveillance cameras will be watching globally in 2021

Surveillance cameras are mounted on a post as the Hangzhou Hikvision Digital Technology Co. logo is displayed atop the company’s headquarters in Hangzhou, China, on Tuesday, May 28, 2019. Hikvision, which is controlled by the Chinese government, is one of the leaders in the market for surveillance technology.

Qilai Shen | Bloomberg | Getty Images

One billion surveillance cameras will be…