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Beijing , March 25 (ANI): Chinese President Xi Jinping's relatives continue to possess millions of dollars in business ventures and financial investments, Radio Free Asia reported, citing a recent report from US sources.After assuming power in 2012, Xi initiated an anti-corruption campaign designed to eliminate corruption at all tiers of the Communist Party. This initiative, which focused on both high-ranking "tigers" and low-ranking "flies," resulted in the investigation and punishment of hundreds of thousands of officials, as reported by RFA.The RFA report pointed out that the US-backed intelligence agency, the...

As the market's US exceptionalism narrative wanes this year, there are two places investors may want to look to for returns.Amid trade uncertainty and dimming economic prospects, US markets have been rattled in 2025. The recent stock market correction has spurred talk that investors may be better off looking abroad than hoping for US equities to regain their footing. After years of underperformance, international stocks are suddenly in the spotlight as they surpass US peers.According to BlackRock, there are two markets in particular where investors should look to park some...

The global economy is inexorably moving towards a multicurrency system as China’s persistent efforts to internationalise the yuan and technological changes erode the US dollar’s dominant position, economists said at a conference on Monday.“Trade invoicing in yuan went from zero per cent to 30 per cent in the last 10 years, and half of Chinese capital flows are now in yuan, much higher than before,” said Jin Keyu, a professor at the London School of Economics, at a panel hosted by the Milken Institute, a US-based think tank.“The truth is...

Inefficient investments continue to be a drain on the economy, and debt-laden local governments need to ensure that the projects they back are actually needed in their communities.That was the message state-owned Economic Daily delivered in a commentary on Sunday as it put its weight behind national efforts to stimulate domestic demand.Written under the pen name Jin Guanping, the commentary said the incremental capital output ratio had risen from 2.84 in 2008 to 9.44 in 2023. The ratio is a key measure of investment efficiency where a lower value indicates...

Asian stocks jumped on Monday on Beijing’s fresh stimulus measures aimed at boosting consumer spending, while regional currencies traded cautiously as investors weighed mounting trade frictions that threaten global economic growth. Seoul’s benchmark climbed 1.6% to their highest since February 27, while stocks in Kuala Lumpur gained 1.1% in its third consecutive winning session. Shares in Taipei added 0.7% after advancing as much as 1.5% earlier in the session. On Sunday, China unveiled sweeping measures to boost domestic consumption, including income hikes and childcare subsidies, just days after financial regulators...

India has “absolutely no interest” in undermining the US dollar, and its fellow members of the Brics grouping of emerging economies have not formed a unified position on a proposed alternative payment system, according to New Delhi’s foreign minister.Speaking at the London-based think tank Chatham House last week during a six-day visit to Britain and Ireland, Subrahmanyam Jaishankar described the dollar as a “source of international economic stability”.His comments followed repeated warnings from US President Donald Trump against any efforts by Brics – an acronym of founding nations Brazil, Russia,...

India has "absolutely no interest" in undermining the US dollar, and its fellow members of the Brics grouping of emerging economies have not formed a unified position on a proposed alternative payment system, according to New Delhi's foreign minister.Speaking at the London-based think tank Chatham House last week during a six-day visit to Britain and Ireland, Subrahmanyam Jaishankar described the dollar as a "source of international economic stability".His comments followed repeated warnings from US President Donald Trump against any efforts by Brics - an acronym of founding nations Brazil, Russia,...

For President Donald Trump, the Taiwan Semiconductor Manufacturing Co.’s $100 billion investment in U.S. chip manufacturing represented “a tremendous leap—like, a leap that nobody would have really said was possible.” But TSMC’s $100 billion is just a small part of the at least $3 trillion in investments and trade commitments the Trump administration has racked up in just six weeks since Inauguration Day. The $3 trillion of investment and trade commitments with the United States involve key allies, such as India and Japan, and major players in the private sector—Apple...

US President Donald Trump’s latest accusation of China’s trade advantage via yuan depreciation suggests his sights are set on reducing the US trade deficit, according to analysts who also noted that a priority of China’s central bank is stabilising the currency against the backdrop of a strong dollar and mounting tariff risks.They contended that Trump’s warning on Monday – that China and Japan “can’t continue to reduce” their currencies because it is “unfair” to the US – clashes with Beijing’s actual efforts to prevent a sharp yuan depreciation. Japan also...

US markets have eliminated all their post-election gains as stocks deepen their sell-off with fresh tariffs on Canada, Mexico, and China now officially in effect. The S&P 500 (^GSPC) has erased about $3.3 trillion in market cap since its record closing high of 6,144.15 on Feb. 19. At that time, the benchmark index's post-election gains had been hovering at just around 6%. Since the start of 2025, the S&P 500 is down around 2% while the Nasdaq Composite (^IXIC) is off nearly 6% and is currently flirting with correction territory,...