As early as 2019, the Fed expressed concerns regarding SVB’s risk management.

The documents show that the Fed began to express concerns about the risk management of the Silicon Valley bank at least four years before the collapse, and issued repeated warnings. Updated March 20, 2023 13:40 CST The documents show that the Fed began expressing concerns about its risk management at least four years before the […]

Joint Military Drill Conducted by China, Russia and Iran in the Gulf of Oman.

The growing cooperation of the three countries poses an increasing challenge to US interests in the Middle East. Updated March 16, 2023 10:50 CST China, Russia and Iran launched joint military exercises in the Gulf of Oman on Wednesday, the latest sign of China’s efforts to expand its influence in the Middle East. China’s defense […]

Xi Jinping draws end to China’s era of reform and opening up

After ten years in power, Xi Jinping’s blueprint for China has been pieced together, marking the end of Deng Xiaoping’s era of reform and opening up. Forty years ago, Deng Xiaoping, a diminutive survivor of the Cultural Revolution, embarked on a campaign to free China from the ideological turmoil under Mao Zedong, embrace the power […]

US House passes bill requiring declassification of intelligence on coronavirus origins

The U.S. House of Representatives voted 419 to 0 to pass a bill requiring the Biden administration to declassify intelligence related to potential links between China’s Wuhan Institute of Virology and the coronavirus outbreak. Updated March 11, 2023 14:05 CST The House of Representatives voted 419-0 on Friday to pass a bill requiring the Biden […]

U.S. stock rally will be tested again: Powell testimony

U.S. stocks’ rebound from last year’s slump will be tested again as investors listen carefully to Federal Reserve Chairman Jerome Powell’s testimony to Congress this week for clues about how high rates need to rise to beat inflation. Powell will present his latest semiannual reports on monetary policy and the economy to the Senate Banking […]

Chinese Cities Struggle Under Trillions of Dollars in Debt – WSJ

China is trying to end one of its slowest growth periods since the 1970s, but the domestic economy is being weighed down by massive local government debt. Those debts, which have ballooned during the COVID-19 pandemic, are now coming to a head. Xi Jinping’s dynamic anti-epidemic policy has burdened cities with billions of dollars in […]

China Sets Conservative Growth Targets, Emerging Internal and External Troubles – WSJ

China announced its lowest economic growth target in more than 20 years. Now, after lifting strict epidemic prevention measures that lasted three years, China faces dual challenges in the domestic and global economies. The target for gross domestic product growth of around 5 percent this year, announced by Premier Li Keqiang at the opening session […]