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September 07 , 2017
  • Reuters：China agrees U.N. action, and talk, needed to end North Korea crisis
    Reuters reports: "China agreed on Thursday that the United Nations should take more action against North Korea after its latest nuclear test, while also pushing for dialogue to help resolve the standoff. North Korea, which is pursuing its nuclear and missile programs in defiance of international condemnation, said it would respond to any new U.N. sanctions and U.S. pressure with "powerful counter measures", accusing the United States of aiming for war. The United States wants the U.N. Security Council to impose an oil embargo on North Korea, ban its exports of textiles and the hiring of North Korean laborers abroad, and to subject leader Kim Jong Un to an asset freeze and travel ban, according to a draft resolution seen by Reuters on Wednesday. Pressure from Washington has ratcheted up since North Korea conducted its sixth and largest nuclear test on Sunday... 'Given the new developments on the Korean peninsula, China agrees that the U.N. Security Council should make a further response and take necessary measures,' Chinese Foreign Minister Wang Yi told reporters... U.S. President Donald Trump has urged China to do more to rein in its neighbor, which was typically defiant on Thursday."
  • The New York Times：Lacking a Point Person on China, U.S. Risks Aggravating Tensions
    The New York Times reports: "President Trump insisted that he and President Xi Jinping had a 'very strong phone call' on Wednesday. But if Mr. Trump kept alive the rapport he has painstakingly cultivated with the Chinese leader, the 45-minute call still served to underscore the widening fissures between Washington and Beijing...The National Security Council is conducting a review of the White House's China policy — taking into account Mr. Trump's populist trade agenda and differences over how to curb the rogue government in North Korea — but it has commanded little attention. Aside from Mr. Trump himself, it remains unclear who in the administration wields genuine influence on the relationship. Jared Kushner's... involvement in China has waned; he did not accept an invitation from the Chinese to go to Beijing this month for a visit that some expected would be in preparation for Mr. Trump's state visit in November. Other officials who have staked a claim to China, such as Secretary of State Rex W. Tillerson and the commerce secretary, Wilbur Ross, have run afoul of Mr. Trump, either on specific policies or broader issues... That lack of a guiding hand has contributed to the administration's dissonant signals toward Beijing. Two months ago, Mr. Ross tried to negotiate a deal with China on steel exports, only to be publicly rebuffed by Mr. Trump. On Sunday, the Treasury secretary, Steven Mnuchin, threatened to cut off trade with any country that does business with North Korea — an unsubtle, and impractical, warning to its main trading partner, China."
  • Forbes：China's ICO Ban Doesn't Mean It's Giving Up On Crypto-Currencies
    Forbes comments: "China's recent ban on so-called initial coin offerings (ICO) doesn't mean regulators are slamming the door on the country's fintech techies, including the crypto-currency players who operate in the mainland and in Hong Kong. China's mainland ICO market is rife with scams and and not at all regulated, so the shut down of new ICOs was no surprise, industry experts agreed. It mostly hurts the local developers, who may just look elsewhere to raise virtual funds for their new digital world start-up projects. Others, such as bitcoin miners, may have to watch out for Beijing's crypto-currency watchdogs, as hiding a warehouse full of computers trading virtual currencies is not easy. 'We expected toughening in ICO and crypto-currencies regulations in China for some time already. The Chinese government might consider the idea of a decentralized economy as one of the major threats to the existing regime,' says Stanislav Glukhoedov, CEO of Prosense, a virtual reality broadcasting service based in Moscow. 'On the other hand, maybe increased attention from governments can help clean up the ICO market from scammers and we suppose that in the near future the number of teams planning new projects through ICO mechanisms will be reduced, and those who will stay will be strong, serious companies.' Prosense is considering launching an ICO this year."
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