FT News Briefing China’s not so Evergrande
Jan 30, 2024
The podcast dives into Binance's decision to let users keep assets with independent custodians amid customer pressure. It unpacks the Hong Kong court's ruling to liquidate China Evergrande and discusses its potential fallout on the Chinese economy and real estate landscape. Additionally, Brazil's President Lula is revisiting controversial economic strategies to rejuvenate the nation's economy, raising questions about state capitalism and public spending as he attempts a green transition. A fascinating mix of finance and policy!
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Binance Adapts
- Binance allows customers to hold assets with third parties due to trader unease.
- This move follows regulatory scrutiny and legal issues, highlighting a shift in the crypto landscape.
Evergrande's Impact
- Evergrande's liquidation impacts China's economy, revealing details about the property sector's issues.
- This situation highlights the clash between international finance norms and China's opaque property world.
Lula's Economic Plan
- Lula aims to boost Brazil's economy using state capitalism, focusing on public works and welfare.
- Critics worry about potential fiscal imbalances and repeating past mistakes.