FT News Briefing Apple’s bargain with Beijing
Nov 14, 2022
The fallout from FTX's collapse is causing a crisis of confidence in the cryptocurrency market, prompting exchanges to reassure anxious clients. Meanwhile, the Federal Reserve faces challenges in navigating a new phase of policy tightening amidst high interest rates. Apple's impressive profits in China come at a cost, as its heavy reliance on the region exposes the company to potential supply chain disruptions and geopolitical risks, particularly concerning Taiwan. These dynamics highlight the complex interplay between business triumphs and global tensions.
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FTX Collapse and Crypto Contagion
- FTX's bankruptcy, caused by a liquidity crisis, highlights the risks in the crypto market.
- The event has spurred calls for greater transparency and regulation in the industry.
Fed's Tightening Challenges
- The Federal Reserve is entering a challenging phase of monetary tightening.
- Increased interest rates create broader economic impacts and financial stability risks.
Apple's China Advantage
- Apple's success in China is partly due to Beijing's crackdown on its own tech companies.
- This regulatory environment has inadvertently benefited Apple.