The gist of it is that US actions such as prosecuting Binance co-founder Zhao Changpeng and chasing alleged cyber-scam camp operator Chen Zhi were not law enforcement actions but attempts to ensure US hegemony over cryptocurrencies and preserve the role of the US dollar as the de facto currency of world trade.
TikTok, owned by the Chinese company ByteDance, has been at the center of controversy in the U.S. for years now due to concerns about user data potentially being accessed by the Chinese government. As a result, U.S. users have often found themselves caught in the middle of this tension. Last year, the app experienced a temporary outage in the U.S. that left millions of users in suspense before it was quickly restored.
In 2022, Jake Sullivan, then national security adviser under President Joe Biden and a powerful figure in the White House's foreign policy team, assembled an interagency planning exercise out of the Situation Room: What were all the possible circumstances and outcomes of an AI arms race between the US and China - from trade wars to real wars, possibly even the arrival of AGI - and how would the federal government respond?
TikTok was technically banned in the U.S. as of January 19th, 2025, as part of the Senate-approved " Protecting Americans from Foreign Adversary Controlled Applications Act." But upon his inauguration as President on January 20th, President Trump issued an Executive Order to withhold enforcement of the bill, in order to give his team an opportunity to potentially re-negotiate the details.
China's exports rebounded in November after an unexpected contraction the previous month, pushing its trade surplus past $1 trillion for the first time, according to data released Monday. Exports climbed 5.9% from a year earlier in November while imports rose just under 2%. The customs data released on Monday also showed that shipments to the U.S. dropped nearly 29% year-on-year. But as trade with the U.S. weakens, China is diversifying its export markets throughout Southeast Asia, Africa, Europe and Latin America.
A bipartisan group of United States senators, including prominent Republican China hawk Tom Cotton, has unveiled a bill that would block the administration of President Donald Trump from loosening rules restricting Beijing's access to artificial intelligence chips for 2.5 years. The bill, unveiled on Thursday, is known as the SAFE CHIPS Act and was filed by Republican Senator Pete Ricketts and Democrat Chris Coons.
TikTok, one of the world's most popular social media platforms, announced Wednesday that it will build its first data center in Latin America in Brazil, near the city of Fortaleza. The project represents a $38 billion investment. The Chinese company's supercomputers, which have revolutionized the internet with their short videos that are followed by hundreds of millions of users, will be operational in 2027 and will be powered exclusively by 100% renewable energy, according to a TikTok statement.
You don't want to cut half of the people, half of the students from all over the world that are coming into our country-destroy our entire university and college system-I don't want to do that,
Speaking on CBS's Face the Nation, Bessent said the transaction would be formally endorsed by President Donald Trump and China's President Xi Jinping during a bilateral meeting in Korea later this week. "We reached a final deal on TikTok," Bessent said. "We reached it in Madrid, and I believe all the details are ironed out. It will be for the two leaders to consummate that transaction."
In my view, the easing of tensions between the United States and China has been the primary catalyst behind this surge, since markets have long considered the trade relationship between the world's two largest economies a direct threat to global trade flows and supply chains, especially when tariff rhetoric dominated the scene. The recent agreement between U.S. and Chinese negotiators on key issues gives markets a long-awaited breather and paves the way for a meeting between Trump and Xi that could cement these understandings.
