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China is already winning World War III, via money

China warning pushes global metals prices lower

China warning pushes global metals prices lower © Getty Images China is the world s biggest consumer of industrial metals Global prices for industrial metals have fallen after Chinese authorities warned commodity traders in the country over pushing up prices. China s National Development and Reform Commission (NDRC) urged the firms to maintain normal market orders . The move comes after metal prices have surged in recent months as major economies emerge from the pandemic. The price of metals including three month copper and aluminium were among those affected. On the London Metals Exchange, copper dropped by 1.6% to $9,881 per metric tonne, while aluminium slipped by 1.09% to $2,370 per metric tonne.

China internet watchdog cites 105 apps for improper data collection

China internet watchdog cites 105 apps for improper data collection Celine Castronuovo © Getty Images China internet watchdog cites 105 apps for improper data collection China s internet watchdog on Friday cited 105 apps operating in its country, including Microsoft Bing and LinkedIn, over allegations of illegal data collection of users personal information. The Associated Press reported that the Cyberspace Administration of China (CAC) announced in a statement on its website that the apps, which also include Bytedance s Douyin and short video app Kuaishou, had 15 business days to address the reported violations before they would face legal consequences. The move comes as part of the watchdog s ongoing crackdown on apps and online content for allegations of improper data collection and misinformation, even as China itself faces allegations from U.S. lawmakers of breaches of online privacy.

Bitcoin plunges after China crackdown

Bitcoin plunges after China crackdown Kalyeena Makortoff and Graeme Wearden © Provided by The Guardian Photograph: Justin Tallis/AFP/Getty Images The price of bitcoin fell by almost 30% on Wednesday, after a Chinese government crackdown on banks’ use of cryptocurrencies accelerated a long-predicted sell-off, in a day of chaotic trading. The world’s largest digital currency tumbled to about $30,000 (£21,000) amid frenzied trading, a drop of more than 50% since it hit record highs of more than $64,000 in mid-April. However, by 10pm UK time, the bitcoin price had risen back to about $38,500, still down 11% on the day, according to Refinitiv data. Critics have been predicting a sell-off for months, claiming the coin has no intrinsic value. The Bank of England governor, Andrew Bailey, has even warned that investors should be prepared to lose all their money if they dabble in cryptocurrencies. Meanwhile, the European Central Bank has compared bitcoin’s mete

Bitcoin falls almost 30% after China crackdown

Bitcoin falls almost 30% after China crackdown Kalyeena Makortoff and Graeme Wearden © Provided by The Guardian Photograph: Justin Tallis/AFP/Getty Images The price of bitcoin fell by almost 30% on Wednesday, after a Chinese government crackdown on banks’ use of cryptocurrencies accelerated a long-predicted sell-off. The world’s largest digital currency tumbled to about $30,000 (£21,000) amid frenzied trading, a drop of over 50% since it hit record highs of more than $64,000 in mid-April. However, by 6pm UK time, the bitcoin price had risen back to about $40,000, still down 8% on the day, according to Refinitiv data. Critics have been predicting a sell-off for months, claiming the coin has no intrinsic value. The Bank of England governor, Andrew Bailey, has even warned that investors should be prepared to lose all their money if they dabble in cryptocurrencies. Meanwhile, the European Central Bank has compared bitcoin’s meteoric rise to other financia

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