Crazy to think that a small interest rate hike by the BOJ was the spark leading to trillions of dollars in losses across every single asset class.
As if we needed any additional evidence of just how fragile the global (Keynesian) financial/monetary system is.
Two points need to be raised off of this NYT article.
First, the primary issue behind why fewer people are traveling to China is a significant reduction in the number of direct air routes to/from the US and Europe. Major airlines don't want to increase capacity due to a sharp reduction in business travel where tickets were the real money maker.
Second, it does remain an issue when it comes to linking global credit cards to either WeChat of Alipay for the purpose of making payments. China is, today, a near cash-less society. Without the ability to use Chinese apps, Didi, Dazhong Dianping, etc, the China travel experience is truly frustrating.
Still, I put the reduction in airline capacity as the primary root for limited travel here in China.
Can't wait to see the reaction to this by the local Chinese citizenry.
Basically this is allowing the government to know your browser history in real time.
The explanation is that this would "protect" Internet users from third parties collecting personal data.
In short, you would be required to first register with one of the government agencies. You provide your information there and are then given an Internet ID for signing up and registering on Chinese websites.
Thing is, the Chinese government pretty much already has all information on all Chinese citizens. What this would end up doing is further centralizing activities and making it far easier to connect people with their activities online.
Not great. Not great at all.
While #China most certainly has its own ulterior motives, you have to imagine that moves such as this in Gaza aren't being greeted all that warmly by the folks in DC.
I continue to press the point that for all of the headlines claiming that it is China which is a threat to global stability, once you dig a bit you'll find that such is not anywhere near the case.
