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GOP senator calls on China to repay $1.6T of century-old debt


GOP senator calls on China to repay $1.6T of century-old debt Sen. Martha McSally, R-Ariz., introduced a resolution Thursday calling on China to repay U.S. bondholders more than $1.6 trillion of sovereign debt, including interest, that pre-dates the country's Communist government.To get more China news, you can visit shine news official website. The measure is co-sponsored by Sen. Marsha Blackburn, R-Tenn., and a House measure led by Rep. Mark Green, R-Tenn., is forthcoming. Resolutions lack the force of law held by a bill, though they reflect the will of lawmakers. “China has repeatedly failed to honor its obligations to America, taking American families’ money and jobs,” McSally said. “Well, the abuse ends here. We are holding China accountable for their debt and for unleashing the coronavirus on the world. We demand China pay back the $1.6 trillion it owes to American families.” The bonds, which are backed by gold, were issued by the Republic of China as long ago as 1912. The government’s leaders fled to Taiwan following the end of Chairman Mao Zedong’s revolution in 1949. Beijing maintains Taiwan is part of China, and under international law, successor governments are responsible for the debts of their predecessors. British Prime Minister Margaret Thatcher in 1987 ordered Beijing to pay Brits for their holdings or lose access to British capital markets, enticing then-Chinese President Li Xiannian’s government to reach a settlement of 23.5 million British pounds. By paying some bondholders and not others, Beijing is technically in selective default, according to the ratings of bond-risk firms Moody’s, Standard & Poors and Fitch, and cannot access the international debt market until it pays the remaining holders.“We are thrilled,” said American Bondholder Foundation President Jonna Bianco, who has power of attorney for 95% of the thousands of U.S. bondholders. “We are pleased that our Senate leadership -- and we've got one coming out of the House as well -- are expressing their support in holding China accountable, consistent with America's message to the president: Hold China accountable.” Trump and Republican lawmakers on Capitol Hill have been looking for ways to punish Beijing for the Communist Party's handling of the COVID-19 outbreak, which they blame for a global pandemic.The virus, which originated in Wuhan, China, has infected more than 5.2 million Americans and killed 166,600. Stay-at-home orders aimed at slowing the virus' spread inflicted trillions of dollars of economic damage and resulted in the U.S and global economy spiraling into the sharpest slowdown of the post-World War II era. "This is not the first time China’s actions have had an outsized impact on the American people," Blackburn said. "What 2020 has made clear is that the status quo is not working when it comes to our relationship with China.”

Nikkei Jumps Over 2 Percent after Yen Plunge


Nikkei Jumps Over 2 Percent after Yen Plunge The major Asia-Pacific stock indexes finished mixed on Monday but mostly lower with both the Nikkei and Shanghai indexes posting more than 1.50% gains while the others sputtered. Japanese shares snapped six consecutive sessions of losses on Monday after the Yen retreated from a 4-1/2-month high against the dollar. Chinese stock jumped as key manufacturing data came in above expectations.To get more news about WikiFX, you can visit wikifx news official website.   On Monday, Japan‘s Nikkei 225 Index settled at 22195.38, up 485.38 or +2.24%. Hong Kong’s Hang Seng Index closed at 24458.13, down 137.22 or -0.56% and South Koreas KOSPI Index finished at 2251.04, up 1.67 or -0.07%.   China‘s Shanghai Index settled at 3367.97, up 57.96 or +1.75% and Australia’s S&P/ASX 200 Index closed at 5926.10, down 1.70 or -0.03%.   Chinas Factory Activity Expanded   Sentiment was helped by a survey showing Chinas factory activity expanded at the fastest pace in nearly a decade in July, with the Caixin/Markit PMI at 52.8, above expectations for a reading of 51.3 by economists in a Reuters poll. PMI readings above 50 signify expansion, while those that fall below that figure indicate contraction.   [fx-article-ad]US-China Tensions Remain at Forefront   Tensions between Washington and Beijing likely continued being watched by investors, with U.S. Secretary of State Mike Pompeo saying Sunday that U.S. President Donald Trump is set to announce “in the coming days” new actions related to Chinese software companies viewed by his administration as a national security threat.   On Friday, Trump told reporters he will act soon to ban Chinese-owned video app TikTok from the U.S., according to NBC News. Microsoft on Sunday confirmed it has held talks to buy TikTok in the U.S. from Chinese tech firm ByteDance.   Nikkei Rebounds on Wall Street Gains, Yens Retreat   Japanese shares ended six straight sessions of losses on Monday after the Japanese Yen retreated from a 4-1/2-month high against the dollar in a short squeeze. Exporters got a boost as the Yen fell to a low of 106.40 Yen against the dollar, moving away from a high of 104.195 yen touched on Friday.

Singapore May Allow Foreign Banks to Create Digital-Only Units


Singapore May Allow Foreign Banks to Create Digital-Only Units The Monetary Authority of Singapore said it plans to revise rules governing foreign banks with a substantial local presence that may allow them to open digital-only banking subsidiaries.To get more news about WikiFX, you can visit wikifx news official website.   Under the enhanced framework, the MAS will consider granting an additional full banking license to foreign lenders which substantially exceed its Significantly Rooted Foreign Bank criteria, the central bank said in a statement on Monday.   “This will enable them to have the same flexibility as Singapore-incorporated banking groups to establish subsidiaries, including with joint-venture partners, to operate new or alternative business models such as a digital-only bank,” the statement said.   Banks around the world have been shutting branches and moving their services online, a trend that will likely be accelerated by the Covid-19 pandemic. Last year, the MAS announced plans to award as many as five new digital banking licenses to non-banks, a move that is expected to create a new generation of rivals for the traditional lenders.   Read about the ‘strong interest’ in Singapores new digital licenses   The enhanced framework “will strengthen the ability of SRFBs to complement the local banks as anchors to Singapores financial system,” the MAS said.   In order to determine if the foreign bank substantially exceeds the criteria, the MAS said it will take into account factors such as whether a significant portion of global key appointment holders are based in the country, the creation of a substantial number of jobs or counting a local group as a major shareholder.   The MAS also said that the local subsidiary of Standard Chartered Plc is the first bank to qualify as an SRFB. Under the scheme, which was announced in 2012, Standard Chartered will be able to open as many as 50 places of business across the city state, of which 35 can be branches.   In a statement, Standard Chartered said it welcomed the move and would invest an additional S$5 million ($3.6 million) to boost talent development and re-skilling.   The bank will review its strategy “with a view to invest more and further deepen our presence in Singapore,” Patrick Lee, chief executive officer of Standard Chartered Bank Singapore, said in the statement.

U.S. Stocks Set To Open Higher As Traders Push Equities To Multi-Month Highs


U.S. Stocks Set To Open Higher As Traders Push Equities To Multi-Month Highs S&P 500 futures are up in premarket trading in sympathy with European bourses which are gaining ground after the release of Euro Area Manufacturing PMI report.To get more news about WikiFX, you can visit wikifx news official website.   The report showed that Euro Area Manufacturing PMI increased from 47.4 in June to 51.8 in July. Numbers above 50 show expansion. The return to growth is an encouraging development which may provide additional support to riskier assets.   Today, the U.S. will also release its Manufacturing PMI data. Analysts expect that U.S. Manufacturing PMI increased from 49.8 in June to 51.3 in July. A better-than-expected Manufacturing PMI report can provide more support to U.S. stocks and push them higher.   [fx-article-ad]Republicans And Democrats Fail To Reach Consensus On New Coronavirus Aid Package   Republicans and Democrats continued their negotiations over the weekend but did not manage to reach consensus on the coronavirus aid deal.   Democrats want to preserve special unemployment benefits of $600 per week while Republicans are worried about costs and want to cut benefits to $200 per week.   As usual, there are other negotiating points, but the unemployment benefit topic remains the key source of discord.   Few analysts doubt that the U.S. needs to provide additional support to consumers to keep spending at healthy levels. The U.S. economy is dependent on consumer activity so a decline in spending could significantly hurt the recovery.   According to a recent Reuters report, U.S. President Donald Trump gave Microsoft 45 days to negotiate a deal to buy TikToks U.S. operations. Microsoft has already discussed the potential deal with Trump.   The U.S. has accused Chinese software companies of sharing data of U.S. citizens with the Chinese government, and TikTok is the first company in Washingtons crosshairs.   More Chinese companies will soon feel the same pressure as Secretary of State Mike Pompeo promised that Donald Trump would announce new measures to safeguard U.S. citizens data in the upcoming days.   China stated that it opposed actions against its software companies, and retaliation in some form is almost guaranteed.   For now, the U.S. stock market completely ignores another increase in U.S. – China tensions as it is focused on upbeat Manufacturing PMI data from Europe and expectations of good Manufacturing PMI data from the U.S.

Weekly Focus: USD Outlook Bearish


Weekly Focus: USD Outlook Bearish USD may decline if earnings reports from large-cap companies such as HSBC and Disney put a discount on haven-linked assets.To get more news about WikiFX, you can visit wikifx news official website.   Meanwhile, Fed rate decision is another factor hindering USD from any gains and forcing stock markets higher. The Fed said at the rate decision for July that it would not let go of the gas pedal in regards to quantitative easing. The notion of an uninterrupted market liquidity from the Fed helped further mitigate fears about credit crisis and inspired market sentiment. By doing so, however, it hammered the demands for haven-linked assets such as USD and amplified the gains of cycle-sensitive assets such as stocks.   In addition, a series of PMI data out of key supply chain and consumer-oriented economies will start trickling out this week. If these data is better than expected, there may be the trace for economic stabilization, which booms cycle-sensitive assets higher at the expense of haven-linked assets. WikiFX, a third-party forex broker inquiry platform, has collected the information of 19,000+ forex brokers, 30 regulators, and helped victims recover over 300,000,000.00 USD. WikiFX App provides functions like forex brokers inquiry, calender, forex news express, calculator and other trading tools to help you get trading done with ease.   Forex brokers inquiry: in order to create a safe forex trading environment, WikiFX offers you two methods of checking the compliance of forex brokers, online checking and offline investigation report. WikiFX has an independent inspection team, conducting on-spot visit to brokers offices to identify they are trustworthy or not.

US Stock Market Overview – Stock Rally Led by the Nasdaq


US Stock Market Overview – Stock Rally Led by the Nasdaq US stocks moved higher on Monday, as traders anticipated a deal between the White House and Congressional Democrats. Most sectors in the S&P 500 index were higher, led by Healthcare. Real-estate bucked the trend. The Nasdaq hit a fresh new record high, led by gains in Microsoft and the Semis. The VIX volatility index hit a fresh 5-month low at 22, before rebounding into the close to settle near 24.40. Apple shares continued to rally climbing nearly 3% on Monday after notching up a 14% gain last week.To get more news about WikiFX, you can visit wikifx news official website.   Manufacturing in the US accelerated the most in 16-months, which is a forward-looking index. This helped buoy US yields which in turn help the US dollar rebound. The dollar rebounded putting pressure on precious metals, but oil and natural gas rallied helping to buoy the energy space. Natural gas prices surged 16% on Monday on a warm weather forecast. Microsoft confirmed that it would work out a deal to purchase Chinese company TikTok from Byedance. President Trump said that he would want part of the sale to come to the American People. This enraged some businesses in China.   ISM Manufacturing Accelerates by the Fast Pace in 16-months   U.S. manufacturing expanded in July at the fastest pace since March 2019. The Institute for Supply Management reported that its manufacturing index rose to 54.2 last month from 52.6. Expectations were for a reading of 53.6. The ISMs measure of production increased in July to 62.1, the highest level since August 2018, and a gauge of orders climbed to 61.5, which was the strongest since September of that year. Customer inventories fell to 41.6 in July, the lowest this year and showing that stockpiles were shrinking at a faster pace. Factory inventories also declined after barely growing a month earlier.

WoW Classic Druid Starter Build and Leveling Guide


WoW Classic Druid Starter Build and Leveling Guide Druid is, no doubt, the most versatile of all 9 Classic WoW Classes. Thanks to his Shapeshifting abilities, and healing spells, he can fulfill all three of the holy trinity roles, tanking, healing, and damage dealing. However, like other hybrid Classes, He does not excel at any of these roles, but can still pull His weight and be a very valuable asset in any raid thanks to his good utility toolkit. Spells like Innervate and Mark of the Wild and the ability to Combat Ress greatly benefit all Group compositions, so there is always a place for a Druid in Raids (just reconcile yourself with the fact that you will be asked to play as a Healer 90% of the time).To get more news about Buy WoW Items, you can visit lootwowgold news official website. If there is one thing at which Druid really excels, it is the leveling. This is where his wide ability set really shines and enables him to rush through levels like no other (except maybe Hunter) Class can. This happens because of few, very important, factors. Firstly, Travel and Cat Forms increase Druid's overall speed by a lot before level 40. Secondly, His Heal over Time Spells allow him to minimize Downtimes. Thirdly, Shapeshift forms do not utilize Mana as a resource, which means that Druid does not have to stop for a drink almost at all (Mana still regenerates when in a Shapeshift form and the 5-second rule still applies, so Druid will be toped up on mana after the Fight ends if he front-loaded his spells beforehand), and fourthly, Druid's Damage in Shapeshift forms is not affected by his Weapon, which means that he is not Weapon (or Gear) dependant, like other Classes are. Moreover, Druid can Tank, Heal and DPS in pre-End-Game group content without resetting his Talents, as long as he brings appropriate Gear. And we didn't mention the Prowl yet... Druid also has the ability to Stealth while in Cat Form, which enables him to cheese out some Quest types, just like a Rogue can. The main weakness of a leveling Druid is the fact that the first Shapeshift Form (Bear) is available at level 10, which means that the first few levels are rather painful to grind through. This guide will aid you and your Druid on your journey to level 60; it will help you choose a Race, present you with an optimal leveling Talent build, point you towards Dungeons and Quests that award worthwhile Weapons, provide some tips & tricks, and more.

WoW Classic Shaman Starter Build and Leveling Guide


WoW Classic Shaman Starter Build and Leveling Guide Shamans are Horde-only Class of Seers and Warriors that use the power of the elements to destroy their enemies and heal their allies. They are very versatile and can assume the role of a Healer, DPS, or even a Tank (especially at lower levels). Restoration Shamans possess a very rare, in Classic at least, AoE Heal ability in a form of the Chain Heal, which makes them a very desired Raid Healers. Elemental Shamans, while not the best as End-Game DPSs, can pull their weight in Raids. Enhancement Shamans, although not viable for Raiding, are very strong in PvP and have an ability to One-Shot their enemies with lucky Windfury procs.To get more news about Buy WoW Gold Classic, you can visit lootwowgold news official website. Shamans are very capable Solo and Duo levelers, but their rather low mana pool slows them down a bit by forcing downtimes. They have access to the Ghost Wolf ability (from level 20) that gives them mobility advantage over most other Classes and their ability to Heal allows them to keep going until they inevitably run out of mana. While rather weak against multiple enemies at once, they are also perfectly capable of soloing level-appropriate Elites. Shamans are strong In Open World PvP as well and have the ability to kite enemies like no other class by using Frost Shock ability and interrupt spell casting every 6 seconds (or 5s with 5/5 Reverberation Talent) with their Earth Shock. This guide will aid you and your Shaman on your journey to level 60; it will help you choose a Race, present you with an optimal leveling Talent build, point you towards Dungeons and Quests that award worthwhile Ranged Weapons, provide some tips & tricks, and more. As most of you know, Shaman is an Horde-only Class in WoW Classic (Alliance got access to the Class in The Burning Crusade Expansion, with the introduction of Draenei, who were the only Alliance race allowed to become Shamans until the implementation of Allied Races in BfA). Out of four Classic Horde Races, only Undead can't become a Shaman.

2021 Volkswagen ID.3 Headlines VW's Electrified Future


2021 Volkswagen ID.3 Headlines VW's Electrified Future New electric vehicles are beginning to roll out with increasing regularity and Volkswagen, the company that brought us Dieselgate, is pushing aggressively into the EV space. Under the guidance of CEO Herbert Diess, VW has launched a formidable electrification strategy, and at its heart is an entire lineup of cars dubbed ID. The first is the ID.3, so named because VW says it's the company's "third big idea." The first was the original Beetle, and the second was the Golf. Those are some big footsteps to follow.To get more Volkswagen news, you can visit shine news official website. We just spent a day behind the wheel of the ID.3. The ID.3 is a compact hatchback that will be followed by the crossover ID.4. The United States will get an ID.4 imported from Germany in 2021, but production will shift to VW's plant in Chattanooga, Tennessee, in 2022. The ID.3 is the first of the EVs, and it likely provides a good preview of what the ID.4 will be like, as both share the new MEB platform. Other Volkswagen Group brands such as Audi, Seat, and Skoda will get their own spinoffs, and there will even be an MEB-based Ford. In Germany, the ID.3 starting price is about $42,000, but less expensive versions are coming. The ID.3 comes with a motor mounted just ahead of the rear axle and a single-speed transmission. The only versions available at launch make 201 horsepower and 229 pound-feet of torque; a downgraded version of the same motor with 143 horsepower is coming soon. A battery with 58 kWh of usable energy is standard, and a 77-kWh battery is optional. The larger battery offers considerably more range, of course, but its additional weight dampens acceleration. Fitted with the 58-kWh battery, the ID.3 weighs a claimed 3814 pounds and can accelerate from zero to 60 mph in roughly 7.2 seconds. The larger battery bumps the weight to more than 4000 pounds, and we estimate the sprint to 60 mph will take 7.6 seconds. Both versions top out at a governed and unimpressive-to-a-German 99 mph, even though we're told theoretical top speed would be closer to 120. Acceleration is brisk right up to the ID.3's terminal velocity. Passing maneuvers are quick and effortless affairs that require little planning. It is fun to drive the ID.3 quickly, and the damping is on the stiffer side compared to similarly sized EVs. But it won't be confused with a GTI. There is still quite a bit of body roll around fast corners, the brake pedal has a lot of travel, and while the steering is precise, the ID.3 is no go-kart. What's more, the electric power steering can be clearly heard during quick maneuvers. Overdo it, and the non-defeatable stability-control system kicks in. The single-speed transmission has a normal mode, which allows the car coast a bit, and a B mode that uses the motor to slow the car more aggressively when lifting off the accelerator. The difference between the modes could be larger, but we like the fact the car offers the adjustability. U.S. EPA range has yet to be determined, but in Europe the official range is 264 miles with the smaller battery and 341 miles with the larger one. Those figures, of course, are unrealistic and nowhere near actual on-road performance. We estimate U.S. range figures would come in just under 200 miles for the smaller-battery variant and about 250 with the larger pack. VW is quick to add that the optimistic numbers, in this case, are the EU's business. European regulators force carmakers to use an extremely favorable cycle for EVs to help their range appear similar to conventionally powered cars. Visually, we think VW got it right. ID.3 is clean and contemporary, not cutesy or overdone but quite industrial-design-like. It's not an intimidating or aggressive look but manages to appear serious and sporty. The drag coefficient is 0.27, which isn't great for a purpose-built EV but not too bad for a short hatchback. And the car makes the most of the electric platform, with a spacious passenger cabin that offers nearly the interior space of a VW Passat, even though it is only 167.8 inches long, or about the length of a Golf.

Xiaomi Mi 10 Ultra: Leaks confirm the design


Xiaomi Mi 10 Ultra: Leaks confirm the design The Mi 10 Ultra is shaping up to be quite the flagship smartphone. According to leaked specifications, Xiaomi will equip the device with a Snapdragon 865+ chipset, along with up to 16 GB of RAM and 512 GB of storage. The Mi 10 Ultra also appears to have four rear-facing cameras, 120x zoom capabilities and could be the first device with a selfie camera underneath its display. Xiaomi is thought to be launching the Mi 10 Ultra in two colours. Prices for it and the Redmi K30 Ultra have been offered too, but these seem unlikely.To get more Xiaomi news, you can visit shine news official website. Xiaomi has already confirmed plans to announce the Mi 10 Ultra on August 11, along with a teaser image of the device's box art. August 11 is the same day when Xiaomi will unveil the Redmi K30 Ultra too, which is tipped to feature MediaTek's latest and greatest SoC, the Dimensity 1000+. While little information has been leaked about the latter, a host of details about the Mi 10 Ultra have now appeared online. Firstly, @yabhishekhd has published some supposed prices for the two devices. According to the photo, which we have included below, the Mi 10 Ultra will start at CNY 6,299 (~US$904), while the Redmi K30 Ultra will cost from CNY 2,399 (~US$344) to CNY 3,499 (~US$502). @yabhishekhd has not provided a source for this information and the information is not being circulated elsewhere. The photo does contain a Weibo watermark, but one person claims that they cannot find the image on the platform. Hence, we would file this one in the unlikely pile for the time being. Some seemingly concrete details have been published online about the Mi 10 Ultra, though. On the one hand, multiple marketing images of the Mi 10 Ultra have leaked. The designs presented are consistent across the three images and match what would appear to be a hands-on picture of the Mi 10 Ultra retail box. The images only reveal the back of the Mi 10 Ultra, but they do show the device in two colours. According to @RODENT950, the silver model has a ceramic back, while the darker version has a transparent finish. It would seem that the device has a translucent back panel rather than a transparent one, but it should still appeal to those who were fans of the Mi 9 Explorer Edition. Additionally, the renders show that the Mi 10 Ultra will support up to 120x zoom. Presumably, this will be 120x digital zoom, as 120x optical zoom would be beyond the capabilities of any contemporary smartphone camera sensor. @RODENT950 claims that the Mi 10 Ultra will only support up to 4x optical zoom. The camera housing is also adorned with the text "12-120mm 1:1.85-4.1", denoting the device's zoom capabilities and "ASPH" to signify that it has an aspheric lens. You can read more about ASPH lenses here. Other specifications and configurations have leaked too. Apparently, the Mi 10 Ultra will be powered by the Snapdragon 865 Plus, LPDDR5 RAM and UFS 3.1 storage. Also, the device will have a VC liquid cooling system and a next-generation in-screen fingerprint scanner. Separately, Ross Young of Display Supply Chain Consultants claims that the Mi 10 Ultra will "likely be" the first smartphone with an "under panel camera". This technology has been in development for a while, but Young states that Xiaomi will produce hardly any Mi 10 Ultra units, as it did with the Mi Mix Alpha. Finally, the Mi 10 Ultra will supposedly be available in the following configurations: