What I Learned From the PLA’s Latest Strategy Textbook May 25, 2021 08:32 AM Age: 4 hours Image: The cover of the 2020 revision of the Science of Military Strategy, released in August 2020 (Source: Author’s records). Introduction Science of Military Strategy (战略学, zhanlüe xue) (SMS), a core textbook for senior PLA officers on how wars should be planned and conducted at the strategic level. This article compares the 2020 version of this book with its last revision, in 2017, and finds that the former contains new details on wartime political work, “intelligentization” concepts, China’s military strategic guidelines, major war operations, joint logistics and the People’s Armed Police. It should be a go-to reference for those seeking to understand Chinese military thinking as it is currently explained to PLA officers themselves.
What turbocharged this week’s crazy cryptocurrency meltdown? SECTIONS Last Updated: May 20, 2021, 02:54 PM IST Share Synopsis Bitcoin dropped as much as 31% Wednesday to near $30,000, and Ether was 44% down at less than $2,000 at one stage. While both have recouped some of the losses, those crashes spread plenty of pain across crypto assets. Reuters “What causes such deeper pullbacks are a case of system overload, liquidations, and such factors,” said Vijay Ayyar, head of Asia Pacific at Luno Pte. Related Liquidations and leverage appear to have turbocharged this week’s cryptocurrency meltdown. Bitcoin dropped as much as 31% Wednesday to near $30,000, and Ether was 44% down at less than $2,000 at one stage. While both have recouped some of the losses, those crashes spread plenty of pain across crypto assets. There were $9.4 billion of liquidations in the 24 hours through 9 a.m. Thursday in Singapore, as more than 887,000 traders liquidated, according to data from Bybt.com. Exchanges offer so much leverage that new traders will always be at risk of forced sales when virtual currencies drop, Fundstrat Global Advisors LLC’s Tom Lee said in a note after the big tumble.
Within Chaos fwweekly.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fwweekly.com Daily Mail and Mail on Sunday newspapers.