China is testing a digital yuan, aiming to accelerate the replacement of cash and increase state control in a society where digital payments via Wechat Pay and Alipay are already the norm. Here’s what Beijing’s new system looks like—and how it would work. Photo credit: Florence Lo/Reuters
The outcome of the 2020 election between Joe Biden and Donald Trump will likely have a major impact on the equity market. Although the economy has historically performed better under a Democratic president, that doesn’t always necessarily reflect on market performance. However, which party controls the White House can still be an important element for those looking to earn big in the market. So how does the U.S. election impact the stock market and how should investors prepare?
The Chinese fintech titan Ant Group—co-founded by Alibaba billionaire Jack Ma—is set to go public in what could be one of the largest listings ever. WSJ explains how Ant’s backbone service, Alipay, has revolutionized payments and investing in the world’s most populous country.
Photo Composite: Crystal Tai
A selection of three essential articles read aloud from the latest issue of The Economist. This week, the business of survival—those companies that survive the coronavirus crisis will need to master a new environment. Plus, how to reopen factories after covid-19 (9:23) and Venezuela’s navy battles a cruise ship, and loses (17:41).
Nearly 100 years ago, Charles Ponzi stumbled across a loophole in the international postal system and turned it into one of the most infamous scams of all time. This time on Sidedoor, we follow Ponzi from his early days until his epic downfall, and hear from a postal investigator trained to catch swindlers like Ponzi who continue to use the U.S. mail for nefarious purposes.
In the new series “Economics For People” from the Institute for New Economic Thinking (INET), University of Cambridge economist and bestselling author Ha-Joon Chang explains key concepts in economics, empowering anyone to hold their government, society, and economy accountable.
Lecture 1.1: The Nature of Economics
Lecture 1.2: Five Reasons Why Economics Is Political
Lecture 2: What Is Wrong With Globalization?
To view more videos: https://www.ineteconomics.org/perspectives/videos/economics-for-people
“After investment frauds break open, how much and how fast investors will get repaid depends in large part on the arsenal of professionals—usually lawyers or accountants—called in as trustees to pick through the wreckage.”
If the investment sounds to good to be true, it almost certainly is. Katy Stech Ferek of the Wall Street Journal writes a comprehensive article on the tedious and expensive work of law firms, accountants and investigators in tracking down and facilitating the repayment of funds to victims of Ponzi schemes. Click on the link below to read more in the WSJ: