Taiwan also conducts its share of military exercises close to China’s coast. Likewise, Taiwan is an important trading partner for China: It's the ninth-largest destination for China’s exports. After all, China is Taiwan’s largest trading partner, with 40% of its exports going to either China or Hong Kong. When one bank refused to accept withdrawal requests, protesters marched on its steps authorities hired thugs to disperse them and weaponized the protesters’ health QR codes, turning them red, which is an automatic quarantine sentence in state-run facilities.īlaming Americans for meddling in Taiwan – what China calls its own affairs, governing – is an easy distraction.īoth sides know their limits. There’s speculation that, on Beijing’s side, these might be calculated measures to distract the local population from the bleak economic reality unfolding within China.įour regional banks in-country are reportedly ready to collapse, dragged down by China’s growing debt bubble, the precarious housing market and an industrial slowdown due to its lockdowns and COVID-19 lockdown policies. They’ve also promised to conduct live fire exercises off of Taiwan’s coast later in the week, but haven’t specified what exactly that would entail. They eventually made their way onto YouTube.Īfter Pelosi landed, Beijing was quick to "retaliate." It suspended import licenses for citrus fruit, two types of fish, as well as 100 brands of snacks and confectionaries. Censors on Weibo, a local social media platform, who are often quick to erase anything politically sensitive, let the videos remain untouched. Beijing was certainly egging on the narrative with displays of military hardware on beaches in Xiamen, a coastal city in China. On Twitter and most Western media it was something different: Clouds of war were gathering. On Kinmen, a group of islands only a few miles from China, “the threat of war is the furthest thing from people's minds,” as one foreign journalist on the island described the local mood in the late afternoon.
Taipei - Tuesday was a fairly normal day in Taiwan. Nothing is Going to Happen as a Result of the Pelosi Trip. House of Representatives Speaker Nancy Pelosi’s (D-Calif.) visit to Taiwan on Tuesday, which caused many investors to stay away from risky assets amid potential U.S.-China tensions. Markets in general seem to have recovered from U.S. Read More: Today's Market Wrap by Glenn Williams Jr. “Bitcoin needs a crypto-specific catalyst to trigger a meaningful move above the $24,700 level,” Edward Moya, senior market analyst at the foreign-exchange broker Oanda, wrote Wednesday in an email update. Over the past two weeks, bitcoin seems to have entered a new range, now hovering between $21,200 and $24,400, a step up from the $17,000 to $21,000 range in the weeks before. The ninth-biggest cryptocurrency by market cap did not break below its 50-day simple moving average (SMA) – suggesting that some large Solana holders might still be holding on. The largest cryptocurrency by market cap seemed mostly unfazed by crypto’s latest hack that left over 8,000 wallets, including several Solana ( SOL) addresses, compromised on Tuesday.īut Solana's SOL token fell over 4.2% during the past 24 hours and is down 76% year to date.
Bitcoin Extends Losing Streak to Six Daysīitcoin ( BTC) extended its losing streak to six days, dropping 1% to about $22,800.
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