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Media Report
September 05 , 2017
  • CNN：'Poke in the eye': Will nuclear test force Chinese rethink on North Korea?
    CNN reports: "China -- North Korea's only global ally and biggest trading partner -- has put on a stoic face since Pyongyang successfully conducted its sixth nuclear test Sunday.President Xi Jinping didn't mention his country's unruly neighbor at all in his closing address at the BRICS summit of emerging economies Tuesday, or in earlier speeches, although a communique issued by the group expressed deep concern and called for the crisis to be settled peacefully. But the test of a hydrogen bomb couldn't have sat well with China's leader. It's the third time in one year that North Korea has overshadowed a major Chinese event -- previous missile tests coincided with the unveiling of Xi's global economic blueprint at his Belt and Road summit in May and the G20, which China hosted last September. 'The Chinese have been pressing North Korea very hard not to stage a nuclear test,' said Mike Chinoy, a former CNN Beijing bureau chief and the author of 'Meltdown: Inside the story of the North Korean Nuclear Crisis.'"
  • Reuters：China hits booming cryptocurrency market with coin fundraising ban
    Reuters reports: "China on Monday banned and deemed illegal the practice of raising funds through launches of token-based digital currencies. The move was targeted at so-called initial coin offerings (ICO) in a market that has exploded since the start of the year. ICOs have become a bonanza for digital currency entrepreneurs, globally and in China, and have provided the fuel for a rapid ascent in the value of cryptocurrencies this year that has driven fears of a bubble that could burst. Individuals and organizations that have completed ICO fundraisings should make arrangements to return funds, said a joint statement from the People's Bank of China (PBOC), the securities and banking regulators and other government departments that was posted on the central bank's website. In total, $2.32 billion has been raised through ICOs, with $2.16 billion of that being raised since the start of 2017, according to cryptocurrency analysis website Cryptocompare."
  • Forbes：Face It, China Totally Owns The BRICS
    Forbes comments: "Is it at all humiliating to the Russians, at least a little bit, that the Chinese are far and away the biggest, baddest BRICS nation? Russia used to be a world superpower. It's a world oil power. A world nuclear power. But beyond that, China is more relevant to the world economy than the Russians. Brazil. What about them? For years, the commodity bubble made it seem Brazil was on its way to becoming the runaway leader of Latin America, surpassing Mexico, which is basically a U.S. import market. Brazil was, and is, a more diverse economy than Mexico... Then the commodity bubble burst and Brazil's purchasing power has dropped, putting it on par with China's. GDP per capita is also similar. China's Happy Meal toy making economy has grown up and is home to more new billionaires than anywhere else. And as leaders from Brazil, Russia, India and South Africa meet in Xiamen... it is clear to everyone watching that China is the leader."
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