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Media Report
April 09 , 2019
  • Bloomberg reports, "The European Union and China managed to agree on a joint statement for Tuesday's summit in Brussels, papering over divisions on trade in a bid to present a common front to U.S. President Donald Trump, EU officials said. Diplomats reached an eleventh-hour accord on a draft communique after China made concessions on wording about industrial subsidies that removed a European veto threat, said one of the officials, who asked not to be identified by name. EU Council President Donald Tusk, European Commission President Jean-Claude Juncker and Chinese Premier Li Keqiang are due to attend the gathering in the Belgian capital. The last-minute agreement highlights European and Chinese determination to present unity in the face of Trump's "America First" challenge to the multilateral order. The EU is China's No. 1 trade partner, while the Chinese market is the second biggest for exports from the bloc after the U.S."
  • The New York Times reports, "China is planning new steps that could put a stop to making Bitcoin there, a move that could cut off one of the world's largest sources of the popular but unstable cryptocurrency. The National Development and Reform Commission, China's top economic planning body, this week added cryptocurrency mining to a list of about 450 industries that it proposes to eliminate. If the move is finalized, local governments in China would be prohibited from supporting makers of Bitcoin and other digital currencies through subsidies or other benefits. The commission said it would seek public comment until May 7 before making a final decision. China was once the world's largest maker of Bitcoin, though rising government pressure has forced many of those who make the cryptocurrency, known as miners, to other countries."
  • The Washington Post reports, "A court found nine leaders of Hong Kong's 2014 pro-democracy movement guilty Tuesday of charges including conspiracy and inciting a public nuisance, sparking outrage from supporters and human rights groups. The charges could carry jail terms of up to seven years, but the nine were granted bail while the sentencing hearings are underway. The convictions were the last of dozens resulting from protests almost five years ago to call for greater democracy in Hong Kong. The protests shut down parts of the city and lasted 79 days. Prosecutors said the nine had encouraged demonstrators to block major roads and cause obstructions in a bid to achieve their political demands. The nine activists, however, have argued that police and government actions prompted hundreds of thousands of people to protest, lengthening what was designed as a short and limited sit-in."
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