Why Does China Ban Bitcoin Exchanges ?

The People’s Bank of China (PBOC) announced in early September that virtual currencies such as Bitcoin were suspected of supporting criminal activities such as illegal fund-raising, financial fraud and pyramid schemes, and implemented an immediate halt to their use. In response, the three biggest Bitcoin exchange platforms in China, BTC China, Huobi.com and OKCoin, have announced that they will stop all trading by the end of September.

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Key to Peninsula: Sanction and Dialogue

The sixth nuclear test conducted by the Democratic People’s Republic of Korea (DPRK) took place several days ago. Strong repercussions across the international community are still on the rise.
On Sept. 3, the DPRK Sunday detonated a hydrogen bomb that could be carried by an intercontinental ballistic missile (ICBM).
The test, which has been widely denounced, has further aggravated the sensitive and complicated confrontation on the Korean Peninsula.

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What are They Interested In?

The leaders of Brazil, Russia, India, China and South Africa met in China coast city Xiamen early September.
The summit of the BRICS nations brings together five major new emerging economies, who are seeking a greater say in world affairs.
A number of overseas media, including many from non-BRICS countries, also keeps a close eye on the latest reports from the summit.
So, what aspects are they focusing on?

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Ambassadors on BRICS Plus

Then how do other developing countries make of the proposal? What opportunities does the BRICS Plus promise to them? To get some insight about these, China Today interviewed ambassadors of Iran, Georgia, Nepal, and South Sudan to China as well as two diplomats from Argentina and the Hashemite Kingdom of Jordan.

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No Need to Sensationalize the “Threat” of China’s Overseas Garrison

On 11th July, commander of the PLA Navy Shen Jinlong announced the central military commission’s official order to establish a security base in Djibouti. This will be the first time that the Chinese people’s liberation army has set up an overseas military base. As a result, the decision has attracted worldwide attention and comment.

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Globalization Fights Its Way Forward

The Leaders Declaration issued after the G20 summit documents a full set of commitments, including further collaboration between G20 members in favor of balanced, sustainable and inclusive global economic growth, and a global architecture for financial governance.

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G20 Continues to Focus on Global Fiancial Stability

The 12th G20 Summit will be held in Hamburg, Germany on 7th and 8th July. On this occasion the theme of the summit is “Shaping an Interconnected world”, expressing the participants’ desire to maintain an open trade system and promote globalization, and their resolve to do so. The summit will emphasize the need to rebuild the financial market and the importance of structural resiliency in the international financial system, with the goal of enhancing their capacity to respond to threats and circumvent financial risks.

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