State-backed miners have enjoyed the golden fruits of Chinese — and overseas — reserves.
China leads the world in gold production. Credit: Julia Berezovska/ Press office NBU, Creative Commons
Gold prices did what they often do in times of economic turmoil in 2020, surging to a record high above $2,000 an ounce by August as investors sought out the traditional safe-haven commodity. Demand for the yellow metal was particularly high among exchange-traded funds, although interest faded as pandemic-related uncertainty receded later in the year.
For Chinese gold producers, like their counterparts elsewhere, the initial surge in prices was a boon nevertheless. China leads the world
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Walmart should be in trouble in China, where its competitors are in retreat and its sourcing operations have been criticised by both Beijing and Washington. But the American retailer seems to have found a way forward in a difficult sector and remains one of the biggest benefactors of China-U.S. trade.
The Commerce Department wants to expand export controls to majority-owned subsidiaries of Chinese companies. That could trigger cascading effects — and challenges.
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