A wave of panic is sweeping across the crypto market. While Bitcoin was nearing highs close to $100,000, it experienced a sharp drop below $96,000 this Sunday, November 24, 2024. This event, accompanied by massive liquidations of over $500 million, shakes investor confidence and raises questions about the underlying dynamics of the market.
In a new escalation of international trade tensions, China has officially filed a complaint against the European Union with the World Trade Organization (WTO). This action follows the EU's decision to impose significant tariffs, ranging from 8% to 35%, on electric vehicles imported from China. According to the European Union, these taxes aim to correct what is deemed unfair competition due to Chinese state subsidies. In response to this measure, China retaliates and denounces an infringement on free trade principles. This conflict arises as both economic powers attempt to position themselves as global leaders in ecological transition and technological innovation.
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Chinese Commerce Minister Wang Wentao recently expressed his "serious concerns" to his American counterpart Gina Raimondo, amid rising tensions that threaten the world's economic balance.
The American and Western hegemony is being challenged by the rise of China. As Beijing continues to strengthen its economic influence across the globe, perceptions vary significantly depending on the income levels of nations. This analysis explores how China is reshaping the global economic landscape and the contrasting reactions from different regions of the world to this evolution.
Chinese Exports: The world alarmed by the Asian giant
The BRICS plan to break away from the reliance on the US dollar will have a significant impact on the United States. An effect that, according to analysts, will affect three vital sectors of the American economy, including banking and finance, technology, and trade. This is not to mention the consequences of a debt crisis.
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In a recent interview, Jeremy Allaire, CEO of Circle, emphasizes the urgency of taking the threat of de-dollarization seriously. As more nations take steps to reduce their dependence on the US dollar, Allaire warns of the potential consequences of this growing trend.