China Undergoes Massive Forex Reserves Loss, Pushes Bitcoin High
Some bitcoin enthusiasts may wonder if this news will affect the cryptocurrency use in China. China has been making a lot of media headlines regarding their forex reserves. A new report indicates these reserves are at a six-year low right now. With less than SU$3tn in liquid foreign exchange assets, things are not looking good for the Chinese economy. It appears the recently introduced capital outflow restrictions are not helping the economy stabilize by any means. It is not surprising to see China’s foreign exchange reserves dwindle every month. Even though January’s decline was smaller....
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US Treasury data combined with PBoC reporting suggests that China's foreign currency reserves experienced a strong decline in November. There are several explanations and some see bitcoin to be the beneficiary. This post is powered by the Bitcoin Trading Network xbt.social - CCN29 and get 29USD off! Economic Indicators. World Indexes and Forex Rates. Commodities. In the Calendar This Week. Fed Rates Announcement. Mon 14 December. N/A. Tue 15 December. N/A. Wed 16 December. USD FOMC Economic Projections. USD FOMC Statement. USD Federal Funds Rate (expected:<0.50% previous:<0.25%). USD FOMC....
Walmart has developed a blockchain pilot focused on China's massive pork industry supply chain. Built in collaboration with IBM and Beijing's Tsinghua University, the pilot is part of two separate, but parallel pushes by Walmart and the Chinese government to make supply chain data more accurate, and therefore safer. IBM's head of global supply chain solutions, Paul Chang, explained that the pilot, if implemented, could also give Walmart a bigger slice of China's lucrative pork industry. Chang told CoinDesk: "It's not just important for China, but for Walmart to really succeed in China. It....
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