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US Treasury Secretary Scott Bessent’s recent remarks before the Senate Banking Committee have quickly entered the global financial conversation. Asked whether China might be developing digital assets backed by gold rather than the renminbi, Bessent said he “would not be surprised,” citing Hong Kong’s large regulatory sandbox and the Hong Kong Monetary Authority’s active global…

The Hong Kong Observatory detected locally felt tremors from a 4.0-magnitude earthquake in Guangdong province on Friday afternoon, confirming more than 100 reports from residents. The weather forecaster’s initial analysis indicated that the 4.0-magnitude earthquake occurred at 2.28pm in Guangdong’s Yangjiang, with the epicentre located about 260km (161.6 miles) west-southwest of Hong Kong. The Observatory…

As the International Monetary Fund takes China to task, the world’s “lender of last resort” is grappling with a new legitimacy crisis. It used to be a one-size-fits-all response to financial crackups that earned the IMF global ire. From the 1997-98 Asian financial crisis to the lead-up to the 2008 “Lehman shock” to any number…