It's been at least a few weeks since the topic of trade war with China dominated the news flow, so moments ago U.S. Trade Representative Robert Lighthizer decided to poke that particular wound, in during a speech in Washington said that "China’s coordinated effort to create national champions and distort markets is a threat to the world’s trading system."
Some headlines from his speech, via Reuters:
For the past 3 months, Bank of America strategist David Woo has been warning that the market is precariously unbalanced, and as a result the smallest shift away from being "priced to perfection", or spike in volatility, could lead to a waterfall event. As we first reported back in July, Woo first warned that between the ongoing standoff in Washington, and the seemingly endless showdown with North Korea, there are two "dangerous" games of chicken afoot, both of which could culminate in a market crash.
Despite headlines from WSJ of "the most draconian measures ever" against Bitcoin, the cryptocurrency is trading up over $1100 from its post-China-"ban" lows and has topped $4100 once again this morning as the world slowly wakes up to the nonsense that shutting down a completely decentralized system is possible, and the fact that China has long-since lost any standing as a major trading hub in the cyrpto world.
Bitcoin just topped $4100 (up over $1100 from the lows last week)...
Authored by Peter Robison, Karen Weise, Wenxin Fan, and Yan Zhang via Bloomberg.com,
Have a spare $500,000 to invest in an economically distressed American area (that actually isn’t distressed at all)? China’s EB-5 fixers will help you every step of the way...
One summer Saturday in 2013, Vivian Ding took the stage in the grand ballroom of Shanghai’s Shangri-La Hotel to hold forth on a subject in which she was both an expert and an inspiration: emigrating to the U.S.
The most important event in China in five years is about to take place, and Beijing isn't taking any chances.
Ahead of the Communist Party’s twice-a-decade congress - an event so massive that according to Bloomberg "nothing escapes its pull" - which is slated to start on October 18 in Beijing, regulators have made it clear to the nation’s top brokers, bankers and financiers that they don’t want to see any major turbulence in markets.