China is pushing Hong Kong as a global hub for Stablecoins, which are digital currencies backed by fiat money.

Western analysts correctly point out that China, uniquely among large economies, is aggressively building out the financial infrastructure and regulation for digital currencies, issued by the central bank. But these analyses err on a major point: the stablecoins issued by Hong Kong institutions will not be China-yuan denominated, as they assume. Instead, they will be denominated in US dollars, and will be a powerful driver of economic growth to the benefit of the Chinese financial system, and without exposing their own currency to outside speculators, seizure, or debt issuance.

To see how this may play out, consider the explosive growth of Tether, a stablecoin with stated US dollar reserves of $116 billion and 1-to-1 parity with the US dollar. The sudden rise and global acceptance of Tether serve as a playbook for Chinese banking regulators, who are sitting on nearly $4 trillion in US dollar reserves, with hopes to deploy these deep capital pools but without exposure to the Western banking system.

Resources and links:

Reuters, Tether's $100 billion stokes stablecoin stability concerns
https://www.reuters.com/techno....logy/tethers-100-bln

Learn how Tether (USDT) Makes Money
https://www.markets.com/educat....ion-centre/how-tethe
Inside the Russian Shadow Trade for Weapons Parts, Fueled by Crypto

Hong Kong to increase digital asset regulation in next 18 months, with focus on stablecoins
https://coingeek.com/hong-kong....-to-increase-digital

Tether’s Ascent: Breaking Down the Dominant Stablecoin's Growth
https://coinmetrics.substack.c....om/p/state-of-the-ne

Forbes, The House Bans The Fed From Building A CBDC Like The Digital Yuan
https://www.forbes.com/sites/d....igital-assets/2024/0

Reuters, What and where are Russia's $300 billion in reserves frozen in the West?
https://www.reuters.com/world/....europe/what-where-ar

China contends for the central position in the global economy
https://merics.org/en/6-china-....contends-central-pos

ASEAN: The ultimate winner of a China-US rivalry (Part I)
https://www.thinkchina.sg/econ....omy/asean-ultimate-w

Tether Stablecoin Home Page
https://tether.to/en/

Closing scene, Hong Kong

Auto industry insiders were stunned when Caresoft, a highly regarded engineering consulting firm, tore down BYD's mass-market EV, the Seagull.

Priced around $11,000, the engineers found the Seagull to be well-designed, user friendly, rich with options, and of surprisingly high quality and reliability.

The US automakers reacted swiftly, and produced reports insisting that BYD's entrance into US car markets would be met with strong enthusiasm from buyers, and legacy carmakers would be unable to survive.

Because of the Seagull's low price point, US tariffs of 25% would be irrelevant: BYD could still make high profits even after the tariffs were paid. Or, BYD could simply place final assembly plants in Mexico and avoid them altogether. Aware of this, the Biden Administration in May jacked the tariffs up to 100%, and announced that Chinese car plants even in tariff treaty countries would be cut off from US markets.

Correction: I was wrong when I said that EV's are lighter. Apologies. I was working with three sets of notes, and the changes didn't make it over in the final draft. It was my fault. Cheers. Kw

Resources and links:

American Test Of $11,500 BYD Seagull: 'This Doesn't Come Across Cheap'
https://insideevs.com/news/710....364/byd-detroit-impo

On a collision course: China's existential threat to America's auto industry and its route through Mexico
https://www.americanmanufactur....ing.org/wp-content/u

CNBC, Why a small China-made EV has global auto execs and politicians on edge
https://www.cnbc.com/2024/03/2....2/byd-seagull-ev-put

American Test Of $11,500 BYD Seagull: 'This Doesn't Come Across Cheap'
https://insideevs.com/news/710....364/byd-detroit-impo
5 takeaways from Biden's tariff hikes on Chinese electric vehicles

NPR, 5 Takeaways from Biden's new tariffs on Chinese cars
https://www.npr.org/2024/05/14..../1251096758/biden-ch

Associated Press, Small, well-built Chinese EV called the Seagull poses a big threat to the US auto industry
https://apnews.com/article/chi....na-byd-auto-seagull-

Forbes, China’s Seagull Leads The Way In Cheap, Well-Made Electric Cars
https://www.forbes.com/sites/j....oshmax/2024/05/14/ch

Caresoft Global, company page
www.caresoftglobal.com

BYD’s new Seagull EV shocks the industry
https://electrek.co/2024/03/22..../byds-new-ev-startin

Closing scene, Harbor, Hainan Province

For the first time ever, global business executives ranked the United States outside the Top 10 in international surveys of competitiveness. The US was firmly in the top spot for decades, and was never out of the top three. According to this year's survey, executives pushed the United States to #12, while Asian economies Singapore, Hong Kong, Taiwan, and the UAE snagged four of the top eight spots.

This survey of international business leaders mirrors what everyday Americans tell pollsters at home: the United States is on the wrong track, and American citizens' confidence in national institutions are at all-time lows.

But our policymakers rely on other surveys, such as from the World Economic Forum and the UN, which continue to show the US as the most competitive. Why is there such an apparent disconnect, between what business executives say about doing business in and with America, and what transnational organizations claim?

Resources and links:

Is the United States Really One of the Most Competitive Economies in the World? No.
https://www2.itif.org/2022-ina....ccurate-competitiven

The US drops out of the Global Competitiveness Top 10
https://aheadoftheherd.com/the....-u-s-drops-out-of-gl

U.S. High School Students Lag Foreign Peers in Achievement Scores
https://www.ethicssage.com/202....2/03/us-high-school-

Statista, The world's most competitive economies
https://www.statista.com/chart..../30231/the-worlds-mo

U.S. Education Rankings Compared to Other Countries
https://www.thebalancemoney.co....m/the-u-s-is-losing-

Gallup, Satisfaction With the United States
https://news.gallup.com/poll/1....669/general-mood-cou

Historically Low Faith in U.S. Institutions Continues
https://news.gallup.com/poll/5....08169/historically-l

Majority of American voters say country is headed in wrong direction
https://nypost.com/2024/07/16/....us-news/majority-of-

Closing scene, Chongqing riverside


Confidence in colleges and universities hits new lows, per FIRE polls

https://www.thefire.org/news/c....onfidence-colleges-a

Ancient Israel is a lie. Ancient Israel did not exit. Ancient Israel is a made up fairytale story.

To Be Popular Or Smart- The Black Peer Group (1988)
-- Dr. Jawanza Kunjufu.

Mind Control (1979)-- Featuring James Thornwell MKULTRA.

Countering The Conspiracy To Destroy Black Boys (1987).
--Dr. Jawanza Kunjufu.

The world’s largest non-polar desert, is actually the widespread burial grounds of countless, mysteriously unknown, ancient ruins & civilizations, that have long since been forgotten, having been consumed and hidden by the sands of time, thousands of years ago. And here’s the thing…when I say “thousands of years ago”…that’s the part where things start to get really strange…

I'm Jimmy Corsetti, and my channel is called Bright Insight.
Help support me in my effort to share interesting and otherwise unknown information with as many as I can, through contributing to my Patreon: https://www.patreon.com/BrightInsight
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Image Credit: Thank you to the outstanding work of Sean McKnight (https://www.deviantart.com/yno....t1989/art/Seas-of-th for green sahara image seen multiple times in this video, starting at 4:04.

Goddess ⁣ @TVYABANTU

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