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More than 30 countries want to join the BRICS
June 19, 2023
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South Africa’s representative to BRICS Ambassador Anil Sooklal has hinted that the grouping is set to grow bigger this year with more

The heightening US-China rivalry is fuelling international investors’ interest in emerging markets, according to the CEO and founder of one of the world’s largest independent financial advisory, asset management and fintech organisations.

The analysis from Nigel Green of deVere comes as U.S. Secretary of State Antony Blinken met with Chinese President Xi Jinping on Monday, amid simmering U.S.-China tensions.

He comments: “The intensifying rivalry between the US and China has significant implications for global markets.

“While this rivalry creates uncertainties and challenges, it also presents opportunities, particularly in emerging markets.

“Our consultants around the world have experienced a significant surge in interest from international investors about these dynamic economies as they seek diversification, growth potential, and reduced exposure to geopolitical tensions.”

The soaring demand from global investors about increasing their exposure to emerging market opportunities comes as tensions rooted in a combination of economic, geopolitical, and ideological factors between the world’s two largest economies and major superpowers continue to make international headlines.

“The economic dimension is a fundamental aspect of the rivalry. China’s rapid rise as a global economic powerhouse and its pursuit of industrial policies that include state subsidies, intellectual property concerns, and market access restrictions have generated tensions with the United States,” explains Nigel Green.

“The US accuses China of unfair trade practices, intellectual property theft, and a lack of reciprocity in market access.”

The rising rivalry also stems from competing geopolitical ambitions. China’s increasing assertiveness in the South China Sea, its Belt and Road Initiative (BRI) aimed at expanding its global influence through infrastructure projects, and its military modernisation have raised concerns among US policymakers.

“The US sees China’s rising influence as a challenge to its own status as a global superpower.”

Technological competition is a critical aspect of the rivalry. The deVere chief executive notes: “Both countries are vying for dominance in emerging technologies like 5G, artificial intelligence, quantum computing, and advanced manufacturing.

“The US has expressed concerns over China’s strategic acquisition of technology, intellectual property theft, and forced technology transfer, leading to initiatives like export controls, investment restrictions, and heightened scrutiny of Chinese tech companies.”

National security considerations also play a significant role in the rivalry with the US viewing China’s military upgrades, cyber espionage activities, and perceived threats to its allies and partners in the Asia-Pacific region as potential challenges to its strategic interests.

One of the key reasons international investors find emerging markets attractive during the US-China rivalry is diversification.

“The rivalry between these two economic giants often generates volatility in global markets, making it sensible for investors to seek alternative investment destinations. Emerging markets provide precisely that,’ affirms Nigel Green.

“By increasing exposure to these economies, investors can reduce their dependency on the performance and fluctuations of US and Chinese markets and, therefore, spread risk across a broader range of regions and industries.”

In addition, emerging markets offer vast growth potential, driven by factors such as expanding populations, rising middle-class populations, and increasing urbanisation.

“These countries present investment opportunities in sectors such as tech, infrastructure, healthcare, and renewable energy – where significant growth opportunities are happening.”

The CEO also emphasises that “non-aligned” economies are also piquing interest among global investors.

“As the rivalry between the US and China escalates, non-aligned states emerge as safe havens, relatively insulated from the direct impact of the tensions,” observes Nigel Green.

“With stable political environments and lower exposure to global power struggles, frontier markets offer investors a degree of stability and reduced risk associated with the US-China rivalry.”

The Association of Southeast Asian Nations (ASEAN) member states, such as Indonesia, Malaysia, Thailand, and Vietnam, are often viewed as non-aligned or neutral in the US-China rivalry.

Several countries in the Middle East, such as Saudi Arabia, the United Arab Emirates, and Qatar, can also be considered non-aligned markets.

Similarly, African nations, including Nigeria, Kenya, and Ethiopia, and Central and Eastern European ones, such as Poland, Hungary, and the Czech Republic.

He concludes: “It’s our experience that investors are increasingly involved in geopolitical hedging.

“These dynamic economies provide avenues to navigate the changing global landscape and capitalise on the potential rewards that emerge amid the ongoing and heightening rivalry.”

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Musk Turns On Starlink to Save Iranians from Regime’s Internet Crackdown

Elon Musk, the world’s richest man and a visionary behind SpaceX, has flipped the switch on Starlink, delivering internet to Iranians amid a brutal regime crackdown.

This move comes on the heels of Israeli strikes targeting Iran’s nuclear facilities, as the Islamic Republic cuts off online access.

The former Department of Government Efficiency chief activated Starlink satellite internet service for Iranians on Saturday following the Islamic Republic's decision to impose nationwide internet restrictions.

As the Jerusalem Post reports, that the Islamic Republic’s Communications Ministry announced the move, stating, "In view of the special conditions of the country, temporary restrictions have been imposed on the country’s internet."

This action followed a series of Israeli attacks on Iranian targets.

Starlink, a SpaceX-developed satellite constellation, provides high-speed internet to regions with limited connectivity, such as remote areas or conflict zones.

Elizabeth MacDonald, a Fox News contributor, highlighted its impact, noting, "Elon Musk turning on Starlink for Iran in 2022 was a game changer. Starlink connects directly to SpaceX satellites, bypassing Iran’s ground infrastructure. That means even during government-imposed shutdowns or censorship, users can still get online, and reportedly more than 100,000 inside Iran are doing that."

During the 2022 "Woman, Life, Freedom" protests, Starlink enabled Iranians to communicate and share footage globally despite network blackouts," she added.

MacDonald also mentioned ongoing tests of "direct-to-cell" capabilities, which could allow smartphone connections without a dish, potentially expanding access and supporting free expression and protest coordination.

Musk confirmed the activation, noting on Saturday, "The beams are on."

This follows the regime’s internet shutdowns, which were triggered by Israeli military actions.

Adding to the tension, Israeli Prime Minister Benjamin Netanyahu addressed the Iranian people on Friday, urging resistance against the regime.

"Israel's fight is not against the Iranian people. Our fight is against the murderous Islamic regime that oppresses and impoverishes you,” he said.

Meanwhile, Reza Pahlavi, the exiled son of Iran’s last monarch, called on military and security forces to abandon the regime, accusing Supreme Leader Ayatollah Ali Khamenei in a Persian-language social media post of forcing Iranians into an unwanted war.

Starlink has been a beacon in other crises. Beyond Iran, Musk has leveraged Starlink to assist people during natural disasters and conflicts.

In the wake of hurricanes and earthquakes, Starlink has provided critical internet access to affected communities, enabling emergency communications and coordination.

Similarly, during the Ukraine-Russia conflict, Musk activated Starlink to support Ukrainian forces and civilians, ensuring they could maintain contact and access vital information under dire circumstances.

The genius entrepreneur, is throwing a lifeline to the oppressed in Iran, and the libs can’t stand it.

Conservative talk show host Mark Levin praised Musk’s action, reposting a message stating that Starlink would "reconnect the Iranian people with the internet and put the final nail in the coffin of the Iranian regime."

"God bless you, Elon. The Starlink beams are on in Iran!" Levin wrote.

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GENIUS Act lets State banks conduct some business nationwide. Regulators object

The Senate passed the GENIUS Act for stablecoins last week, but significant work remains before it becomes law. The House has a different bill, the STABLE Act, with notable differences that must be reconciled. State banking regulators have raised strong objections to a provision in the GENIUS Act that would allow state banks to operate nationwide without authorization from host states or a federal regulator.

The controversial clause permits a state bank with a regulated stablecoin subsidiary to provide money transmitter and custodial services in any other state. While host states can impose consumer protection laws, they cannot require the usual authorization and oversight typically needed for out-of-state banking operations.

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“Critical changes must be made during House consideration of the legislation to prevent unintended consequences and further mitigate financial stability risks. CSBS remains concerned with the dramatic and unsupported expansion of the authority of uninsured banks to conduct money transmission or custody activities nationwide without the approval or oversight of host state supervisors (Sec. 16(d)).”

The National Conference of State Legislatures expressed similar concerns in early June, stating:

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Section 16 addresses several issues beyond stablecoins, including preventing a recurrence of the SEC’s SAB 121, which forced crypto assets held in custody onto balance sheets. However, the nationwide authorization subsection was added after the legislation cleared the Senate Banking Committee, with two significant modifications since then.

Originally, the provision applied only to special bank charters like Wyoming’s Special Purpose Depository Institutions or Connecticut’s Innovation Banks. Examples include crypto-focused Custodia Bank and crypto exchange Kraken in Wyoming, plus traditional finance player Fnality US in Connecticut. Recently the scope was expanded to cover most state chartered banks with stablecoin subsidiaries, possibly due to concerns about competitive advantages.

Simultaneously, the clause was substantially tightened. The initial version allowed state chartered banks to provide money transmission and custody services nationwide for any type of asset, which would include cryptocurrencies. Now these activities can only be conducted by the stablecoin subsidiary, and while Section 16(d) doesn’t explicitly limit services to stablecoins, the GENIUS Act currently restricts issuers to stablecoin related activities.

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Dubai regulator VARA classifies RWA issuance as licensed activity
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Creating enforceable frameworks for RWA tokenization that actually work.

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And the UAE just gave it legal rails.

~Real estate.
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What Dubai is doing now is 3 years ahead of everyone else.

Founders, investors, ecosystem builders:

You want to build real-world assets onchain.

Don’t waste another year waiting for clarity.

Come to Dubai.

It’s already here.

 

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If you find value in my content, consider showing your support via:

💳 PayPal: 
1) Simply scan the QR code below 📲
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Or Buy me a coffee: https://buymeacoffee.com/thedinarian

Your generosity keeps this mission alive, for all! Namasté 🙏 Crypto Michael ⚡  The Dinarian

 

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