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Why China’s economy is threatened by a property giant’s debt problems
Every once in a while a company grows so big and messy that governments fear what would happen to the broader economy if it were to fail. In China, Evergrande, a sprawling real estate developer, is that company.To get more finance news China, you can visit shine news official website.
Evergrande has the distinction of being the world’s most debt-saddled property developer and has been on life support for months. A steady drumbeat of bad news in the recent weeks has accelerated what many experts warn is inevitable: failure.
Ratings agency Fitch said this week that default “appears probable.” Moody’s, another ratings agency, said Evergrande is out of cash and time. Evergrande is faced with more than $300 billion in debt, hundreds of unfinished residential buildings and angry suppliers who have shut down construction sites. The company has even started to pay overdue bills by handing over unfinished properties.
Observers are watching to see if Chinese regulators make good on their pledge to clean up the country’s corporate sector by letting “debt bombs” like Evergrande collapse.
In its glory days a decade ago, Evergrande sold bottled water, owned China’s best professional soccer team and even briefly dabbled in pig farming. It became so big and sprawling that it even has a unit that makes electric cars, though it has delayed mass production.
Its billionaire founder, Xu Jiayin, is a member of the Chinese People’s Political Consultative Conference, an elite group of politically well-connected advisers. Xu’s connections probably gave creditors more confidence to keep lending money to Evergrande as it grew and expanded into new businesses. Eventually, though, Evergrande ended up with more debt than it could pay off.
In recent years, it has faced lawsuits from homebuyers who are still waiting for the completion of apartments they partially paid for. Suppliers and creditors have claimed hundreds of billions of dollars in outstanding bills. Some have suspended construction on Evergrande projects.
Evergrande might have been able to keep going if it weren’t for two problems. First, Chinese regulators are cracking down on the reckless borrowing habits of property developers. This has forced Evergrande to start selling off some of its sprawling business empire. That’s not going so well. It has yet to sell its electric vehicle business, despite talks with prospective buyers. Some experts say buyers are waiting for a fire sale.
Second, China’s property market is slowing and there is less demand for new apartments. This week the National Institution for Finance and Development, a prominent Beijing think tank, declared the property market boom “has shown signs of a turning point,” citing weak demand and slowing sales data.
Beijing will be tempted to say “no,” but a collapse could cause serious damage, leaving homeowners, suppliers and domestic investors — potentially numbering in the millions — unhappy. And Beijing has ultimately moved to shore up other large companies with big problems in the past.
Authorities hauled Evergrande executives into a meeting last month and told them to get its debt in order. They have also continued to tell its banks to scale back their lending to the developer.A campaign by the central bank to tame property debt and reduce the banking sector’s exposure to troubled developers should mean that an Evergrande failure would have less of an impact on China’s financial system.
PayPal Notches Largest Bitcoin Volume For The First Time In Months
Payment giant PayPal has seen the most significant Bitcoin activity on the platform in recent months. It seems that the move to embrace cryptocurrencies has had positive ripple effects for its wider adoption.To get more news about CHZ, you can visit wikibit.com official website.
$145 Million Worth Of Activity
As Bitcoin climbed to a new all-time high that was sparked by the SECs approval of Bitcoin ETFs, PayPal was also recording its own BTC milestone. The payment platform saw trading volumes of the asset by $145.60 million which is the highest since May 19th. During that time, the platform recorded volume up to $304 million which is double the recent metric.
Analysts are unsure whether or not the spike in volume is because of investors selling the top or because of retail traders buying in to ride the waves. Across the internet, searches for the word Bitcoin also experienced the same kind of spike.
PayPal‘s decision to incorporate cryptocurrencies has been met with adulation from several quarters. The platform’s millions of customers now have the option to buy, hold and sell selected cryptocurrencies including Bitcoin from the platform and is shining a pATH for the other payment giants to follow the same path which can spur Bitcoin to new highs.
“The increased buying pressure from PayPals users and its corresponding impact on the price of Bitcoin may stir a notable up-shoot this fourth quarter and as the year runs to an end,” says Alexander Vasiliev, co-founder of mercuryo. “With the ATH at $67K, we may see a worse case price high of $80,000 by year-end and a best-case scenario of $100,000.”
PayPal's Love For Cryptocurrencies
Aside from the integration of cryptocurrencies on the platform, PayPal now provides educational materials to its users on the app to foster a deeper understanding. The platforms vice president noted that “these changes will enable our customers to have more choice and flexibility in purchasing cryptocurrency on our platform.”
As part of the cryptocurrency expansion drive, the company acquired Curv, a digital asset security firm. The companys VP, Fernandez da Ponte in a statement noted that “the acquisition of Curv is part of our effort to invest in the talent and technology to realize our vision for a more inclusive financial system.”
Paypal's co-founder, Peter Thiel has stated that he feels like he “under-invested” in Bitcoin. The positive reactions from customers over cryptocurrency offerings may spell even deeper forays into the field by PayPal.
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Elon Musk Says He Doesn’t Own Shiba Inu Tokens
Elon Musk has a SHIBa Inu puppy at home. Elon Musk has joked about Shiba Inu, but Elon Musk doesnt hodl Shiba Inu.To get more news about BNT, you can visit wikibit.com official website.
Replying to one of the many Shiba Inu accounts on Crypto Twitter, the famous Elon Musk confirmed that he didnt own Shiba Inu, despite being a highly influential figure for that community.
Elon Musk Has no Shiba, FLOKI, or Any Other DOGEcoin Spin-Off
And although his puppys name is FLOKI, Elon Musk does not have a single Floki token either.
Elon Musk said he only owned Bitcoin, ETHereum, and Dogecoin (a portfolio he had already revealed). The disclosure came with a piece of advice for all maximalists —be it Bitcoin, Shiba Inu, or any other cryptocurrency: faith in a coin does not matter as much as the ecosystem of services built around it.
It seems that Elon Musk prefers the original MEME to the copy. The worlds richest man has been actively working to improve Dogecoin and make it globally viable as a fast, cheap, and scalable medium of exchange.
The Dogecoin Foundation even appointed an associate of Elon Musk as a member of its board of advisors, so it could be said that the entrepreneurs relationship with Dogecoin goes far beyond MEMEs.
Elon Musks love for Dogecoin has spread throughout his company. In a subsequent tweet, the entrepreneur claimed that many of his employees also owned Dogecoin, and this was one of the things that motivated him to get into this cryptocurrency.
Lots of people I talked to on the production lines at Tesla or building rockets at SpaceX own Doge. They aren‘t financial experts or Silicon Valley technologists. That’s why I decided to support Doge – it felt like the peoples crypto.
NZD Outstrips AUD Due to the Later Facing Many Unfavorable Factors
Commodity currencies have performed well recently, among which CAD and NZD rocket, followed by AUD that bounces off continuously. I am looking forward to a further increase in the CAD and NZD. While AUD has recovered constantly, whether will the currency keep going up or not, that is a question, because the unfavorable factors are dominant among the basic ones that affect the AUD most for a long time.To get more news about ifx brokers sign up, you can visit wikifx.com official website.
Driven by the rising coal prices, AUD has rebounded overall recently. The coal prices are estimated to keep soaring because of the energy shortages in Asia. In addition, among the basic factors which have a long-term bearing on the AUD, there are two major ones, economy and base metals, in the Asian-Pacific region. Many countries in the region released a falling GDP, indicating that the economy has suffered from flood situation, pandemic and energy shortage.
In terms of base metals, copper futures staged a recovery recently, boosting in part the Australian economy, compared with the soaring coal prices that bolster the economy most. However, iron ore remains weak after a plummet. With an energy shortage, it is estimated that the demand of industrial base metals will decline. Meanwhile, many countries determine to take a low-carbon emission policy, continuously decreasing the demand of refined steel and base metals. So the copper futures and aluminum futures prices are expected to adjust enormously after surging.To get more news about xifx markets, you can visit wikifx.com official website.
Im not very optimistic about the future AUD temporarily, due to the unfavorable factors that have a bearing on the currency. On the contrary, the CAD and NZD enjoy more favorable factors. Confronted with a well-performed economy in Canada and New Zealand, the local central banks are likely to introduce hawkish monetary policies in the future including tough measures to hike interest rate. Therefore, the CAD and NZD may be bullish, especially against the JPY, which is possible to be weaker because of the related cross trades.To get more news about ifxbroker, you can visit wikifx.com official website.
The governor of Bank of England Andrew Bailey intimates that more pressures are put on the rate interest hikes, sending the pound rising in a short term. But the severe labour shortage in the UK have affected the local economy badly. It is believed that the future economic data issued by the country may reflect the negative influences from the shortage, further ratcheting up pressure on an overall bullish pound in the future.
Gold Prices Look to Real Rates as November FOMC Nears
Gold prices continue to tread water in familiar territory as expected, anchored by static real interest rates. Nominal yields are on the rise thanks to a hawkish turn in the Fed policy outlook, which has in turn tracked surging inflation expectations. Recently however, the rise in price growth bets has outpaced nominal rates, capping real yields.To get more news about ifx brokers, you can visit wikifx.com official website.
This seems to imply that markets expect the US central bank to fall behind the curve on curbing prices. Not surprisingly, that has kept gold afloat: traders have understandably reckoned that the 0% yield offered by bullion is a better store-of-value prospect than the negative return on cash.To get more news about ifx brokers minimum deposit, you can visit wikifx.com official website.
A rethink may be in order. Fed Funds futures imply that markets now price in 130 basis points in tightening through the end of 2024. Chair Jerome Powell and company projected a more spirited 175 basis points in hikes over the same period at last months FOMC conclave however.To get more news about ifx brokers review, you can visit wikifx.com official website.
With this in mind, the spotlight may shift to speculation about the November 3 gathering of the rate-setting committee in the days ahead. It is expected to formally introduce the process of tapering back QE asset purchases, setting the stage for rates to rise in the second half of 2022.
Traders pondering hawkish surprise risk might look to rebalance portfolios accordingly in the days ahead, pressuring bullion. Lasting follow-through seems unlikely for now however, with directional conviction in short supply before policymakers guidance can be gleaned and properly onboarded.
October‘s flash PMI surveys from the US, UK and Eurozone headline the data docket in the coming hours. Global economic news-flow has increasingly underperformed relative to forecasts recently, which may imply that analysts’ forecasts are rosier than reality supports and set the stage for downside surprises.
That might bode ill for gold if soft headline results come alongside indications of sticky price growth, which may in fact be amplifying the downshift in global output expansion since May. That mix might beckon swifter action from monetary authorities, pulling the metal lower within recent ranges.
Gold prices remain locked in familiar territory below the $1800/oz figure, though the bearish bias established from August 2020 remains intact. A break below support at 1750.78 may expose 1717.89 on route to the 2021 floor under $1700/oz. Resistance begins at 1808.16, followed by the range top at 1834.14. A daily close above that seems needed to make the case for upside follow-through.
The bending radius of the cable and its influence on the cable
1. What is the bending radius of the cable?
Cables must be actively or passively subjected to bending during the manufacturing, transportation, and installation and construction processes. When the cable is bent, the degree of bending is directly related to the bending radius of the cable.
1. The bending radius of the cable: Normally, we regard the bent cable as an arc, and the radius of the circle where the arc is located is the bending radius of the cable in the bending state.
2. The minimum bending radius of the cable: Due to the cable material and structural characteristics, the cable has a certain limit to withstand bending. The cable bending radius under this limit is the minimum bending radius of the cable.
2. The influence of too small cable bending radius on the cable
1. The effect of bending on the conductor
The cable conductor is made up of multiple single-core wires twisted at a certain pitch. The number of single wires and the pitch of the conductor determine the stability of the conductor during bending. Excessive bending will cause the conductor to become loose and loose. The protrusion directly affects the performance of the semi-conductive layer and insulating layer of the outer conductor.
2. The influence of cable bending on insulation
When the cable is bent with a certain bending radius, the insulation at the bend will undergo tensile deformation. When the bending exceeds the allowable minimum bending radius, it may cause insulation damage.
3. The effect of bending on metal shielding
Usually medium voltage cables are shielded by copper tape. When the cable is bent too much, the metal tape will wrinkle or curl, which will easily lead to insulation damage.
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Precautions for installation of flame-retardant and fire-resistant cables
The characteristics of flame-retardant and fire-resistant cables: have the function of self-extinguishing, and can maintain the normal operation of the electrical circuit for a period of time under burning conditions. Therefore, the installation of flame-retardant and fire-resistant cables can effectively control major disasters caused by cable fire and prolonged combustion, thereby improving the fire protection level of electric lines. So, what matters should be paid attention to when installing flame-retardant and fire-resistant cables?
1. When laying cables in the same pipeline, it is not advisable to configure both flame-retardant and fire-resistant cables and ordinary non-fire-resistant cables.
2. When the number of cables to be installed is small, fire-resistant paint, tape, etc. can be added to the cables.
3. Places with high safety performance requirements, such as oil tank farms, important wooden structure public buildings, dense wire tunnels, hospitals, shopping malls, etc., need to be equipped with Class A flame-retardant and fire-resistant cables.
4. In industrial buildings, important circuits such as fire protection, alarm, emergency lighting, breaker operation DC power supply, and emergency shutdown power supply for generating sets and other important circuits need to be equipped with Class A flame-retardant and fire-resistant cables.
5. When too many cables are laid in the same pipeline, the cables need to be laid in the fire-resistant trough box.
6. In order to reduce the failure rate of wire connectors in fire accidents, the number of connectors should be reduced as much as possible during installation to ensure that the lines can work normally in a fire. If branch wiring is needed, fire-proof the joints should be done.
Talking about Special Cable and Its Diversified Development Direction
1. What is a special cable? What is the difference with ordinary cables?
Special cables are cables that have special uses and can be used on specific occasions. Special cables are a series of products with unique properties and special structures. Compared with ordinary wires and cables with a large quantity and a wide range, special cables have the characteristics of higher technical content, stricter use conditions, smaller batches, and higher added value. Special cables often adopt new structures, new materials, new design calculation methods and new production processes.
Second, the characteristics and classification of special cables
Special cables have special functions due to their special use occasions or specific use conditions, such as high temperature or severe cold resistance, strong acid and alkali resistance, termite resistance, low noise, superconducting, waterproof, soft and wear-resistant, and environmental protection. . So far, special cables are mainly divided into four categories: high temperature resistant wire and cable, special structure and specific purpose wire and cable, functionalized wire and cable, and new green and environmentally friendly wire and cable.
Third, the diversified development direction of special cables
The development direction of special cables is diversified. The military industry has a large demand for light-weight and high-temperature-resistant cables. In terms of construction, fire-resistant and high-temperature resistant wires and cables and low-smoke, halogen-free and environmentally friendly wires and cables can effectively prevent fire and safety accidents. In fields such as medicine and national defense that require small signal measurement, low-inductance and low-noise wires and cables are needed. For oil platforms, deep well survey cables, heating and temperature control cables, and submarine integrated cables are needed. In urban power distribution, substations, power plants and other occasions that need to transmit large currents over short distances, superconducting cables are required. In terms of industrial intelligence, super-flexible, wear-resistant and easy to move drag chain cables are needed. In the application of locomotives and AC motors, frequency conversion cables are required.
Five principles of circuit wiring in home decoration
Circuit wiring is an important part of home decoration. The quality of home decoration circuit wiring directly affects our future life, and will also affect our future circuit maintenance and transformation. Do you know how home decoration circuit wiring should be implemented and what wiring principles should be followed?
1. Principles of circuit design: walk on the top without walking on the ground, on the top without walking on the wall, and on the wall without walking on the ground.
2. The principle of circuit grouping: according to the circuit application in the home, carry out strong and weak current grouping, keep the distance between strong and weak current groups at 30-50 cm; group the circuits into living room, kitchen, bedroom and other applications according to the spatial layout of the family;
3. Circuit positioning principle: According to the placement of household electrical appliances, the layout of switches, the positioning of sockets, etc., carry out the planning and layout of the circuit.
4. Circuit grooving principle: The principle of horizontal and vertical grooving should be followed, and horizontal grooves should be opened as little as possible; if there are no more than 3 inflection points on the line, the shortest line should be planned and then grooved .
5. The principle of circuit buried pipe: circuit wiring generally adopts the method of concealed buried pipe. There are two types of wire pipes: cold-bent pipe and PVC pipe. Cold-bend pipes can be bent but difficult to break. It is recommended as the preferred choice for buried pipes.
Adhering to the five principles of circuit wiring in home decoration can enhance the safety of life electricity and provide convenience for future circuit maintenance and transformation.
6 skills that must be mastered when laying outdoor cables
The installation and construction of outdoor power cables is relatively difficult due to the complex terrain and numerous equipment and facilities in the urban area. In order to avoid problems such as cable abrasion, equipment damage, and personnel safety caused by construction, the following summarizes the 6 major techniques for laying outdoor power cables.
1. Before laying the cable, check whether the type and specification of the cable meet the design requirements: armored cables should be used for direct burial laying; unarmored cables should be used in cable trays, in cable shafts, overhead and pipe laying; Flame-retardant cables should be used in public places with higher fire protection requirements.
2. Check whether the cable reel and its protective layer are intact, and whether the two ends of the cable are damp.
3. According to the actual situation of the construction site, it is determined that the cable shall be laid in direct buried, vertical shaft, pipe-through or overhead laying methods.
4. When the power cable is buried directly underground, the distance from the ground should not be less than 0.7 meters, the distance between the pipeline and other parallel pipelines should be kept at least 2 meters, and the pipeline spacing should be more than 0.5 meters during cross laying.
5. The sequence of cable laying and the location of cable brackets should be planned as a whole before construction.
6.Pay attention to the abrasion of the cable at the bend during construction, and ensure that the cable has enough space for expansion and contraction.