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Beijing uneasy with North Korean troops in Russia

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Even before Kim Jong Un sent troops to support Russia’s fight against Ukraine, there were signs that North Korea’s main backer, China, was unhappy with his regime’s deepening ties with Moscow.

In a letter last week seen as signalling Beijing’s growing displeasure, Chinese President Xi Jinping thanked Kim for a congratulatory message on the 75th anniversary of Communist China’s founding — but omitted a traditional reference to North Korea as a “friendly neighbouring country”.

Kim appears unabashed. Western allies this week revealed that North Korea had sent more than 12,000 troops, disguised as ethnic minorities from Siberia, to fight on Russia’s front lines, a move that analysts say will only heighten Beijing’s concerns over its neighbours’ increasingly cosy military ties.

“The North Korean troop deployment is a dramatic step, and China will not like it one bit,” said Andrei Lankov, a North Korea expert at Kookmin University in Seoul.

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For China, the deployment — a sharp escalation in a partnership that has deepened since Moscow’s full-scale invasion of Ukraine in 2022 but was previously largely limited to munitions — threatens to destabilise the delicate balance of power on the Korean peninsula.

Closer Russian-North Korean ties could also spur the US, Japan and South Korea to strengthen their military alliance in east Asia, which Beijing already views as aimed at containing its growing power.

Beijing wants to avoid at all costs a rerun of the early years of the cold war, when the Soviet Union, North Korea and China formed a “northern triangle” that faced off against a “southern triangle” of South Korea, Japan and the US, Chinese scholars said.

“China’s situation now is really difficult, genuinely a dilemma,” said Zhu Feng, executive dean of the School of International Studies at Nanjing University. “On the one hand, we don’t want to see the return of the cold war to east Asia. On the other hand, the US is trying to strengthen solidarity with South Korea and Japan.”

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Japan’s chief cabinet secretary Yoshimasa Hayashi on Friday said that escalating Russian-North Korean co-operation was “deeply concerning” and would “worsen the situation in Ukraine and impact the security of the region around Japan”.

China’s wariness has been evident since April, when it sent one of its most senior officials, Zhao Leji, to Pyongyang. While the two sides did not reveal details of the talks, analysts said Beijing was unhappy about the prospect of losing influence over North Korea, which it sees as a crucial buffer state against US-backed South Korea. 

In June, Kim went further, agreeing a strategic partnership with Putin that contained a mutual assistance clause in cases of aggression against one of the signatories — a move that was of deep concern to China.

The following month, the Chinese ambassador to North Korea did not attend July anniversary commemorations in Pyongyang marking the end of the Korean war, despite the two countries marking 75 years of diplomatic relations this year.

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China’s foreign affairs ministry on Thursday said Beijing was “not aware of the relevant situation” when asked about Pyongyang’s decision to send troops.

China’s concerns include becoming potentially embroiled in the conflict itself if North Korean troops’ involvement in the fight against Ukraine made the Asian country — Beijing’s only military alliance partner — a legitimate target for Kyiv, said Shen Dingli, a Shanghai-based international relations professor.

“China has a treaty-bound obligation to defend North Korea,” said Shen. “If North Korea is attacked, China is legally bound to send its troops and [if necessary] to use all means to protect North Korea.”

Some defence analysts have raised concerns that North Korea’s contribution to Russia’s war effort could mean Pyongyang has secured a reciprocal commitment from Moscow to intervene in a conflict on the Korean peninsula — a prospect that would alarm Beijing.

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But Lankov said such a possibility remained “extremely remote”.

“The North Koreans are doing this for money, military technologies and battlefield experience, not out of any sense of solidarity with Russia,” he said. “Russia is not going to get themselves into trouble just out of gratitude to Kim Jong Un.”

China is also worried about Russia helping North Korea improve its nuclear capabilities, which could accelerate an arms race in the region, said Chen Qi at the Institute of International Relations at Tsinghua University in Beijing. Kim visited Russia’s Vostochny Cosmodrome, the country’s most advanced space rocket launch site, last year.

But Chen was sceptical Russia would prioritise its relations with North Korea over those with China, on which Moscow has relied for economic and geopolitical support since its full-scale invasion of Ukraine.

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Some analysts said Beijing might be tolerating North Korean arms shipments to Russia to alleviate pressure to provide direct military assistance itself.

Jaewoo Choo, head of the China centre at the Korea Research Institute for National Security think-tank in Seoul, said “Beijing may actually be secretly pleased that Russia is providing economic aid to North Korea in China’s place”, at a time when China’s own domestic growth was lagging.

“China remains in the driving seat because ultimately it has control over both countries,” said Lankov, referring to Pyongyang’s reliance on aid from Beijing. “If China wanted to put a stop to this nonsense as they see it, then they could do so.”

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Additional reporting by Leo Lewis in Tokyo

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Ripple files Form C, appeals SEC ruling on XRP institutional sales

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Ripple files Form C, appeals SEC ruling on XRP institutional sales


Ripple challenges SEC’s ruling on institutional XRP sales, claiming the Howey test was misapplied.



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Bitcoin analyst: $100K BTC price by February 'completely within reason'

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Bitcoin analyst: $100K BTC price by February 'completely within reason'


BTC price trajectory appears all but destined for six figures in the mid term — despite nearly eight months of Bitcoin market consolidation.



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1 Top Stock to Buy Hand Over Fist Before That Happens

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1 Top Stock to Buy Hand Over Fist Before That Happens


2024 is turning out to be a solid year for the global semiconductor industry, driven by multiple catalysts. These include the booming demand for chips that can manage artificial intelligence (AI) workloads, a turnaround in the smartphone market’s fortunes, and a recovery in the personal computer (PC) market.

These factors explain why the global semiconductor industry’s revenue is expected to jump 16% in 2024 to $611.2 billion, according to World Semiconductor Trade Statistics (WSTS). That points toward a nice turnaround from last year, when the semiconductor industry’s revenue fell 8%. Even better, the semiconductor space is expected to keep growing in 2025 as well, with WSTS projecting a 12.5% increase in the industry’s earnings to $687.4 billion next year.

More specifically, WSTS predicts a whopping 25% increase in the memory market’s revenue in 2025 to $204.3 billion. As it turns out, memory is expected to be the fastest-growing semiconductor segment next year as well, following an estimated jump of almost 77% in this segment’s revenue in 2024.

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There’s one company that could help investors tap this fast-growing niche of the semiconductor market next year: Micron Technology (NASDAQ: MU). Let’s look at the reasons why buying this semiconductor stock could turn out to be a smart move right now.

WSTS isn’t the only forecaster expecting the memory market to surge higher next year. Market research firm TrendForce estimates that the sales of dynamic random access memory (DRAM) could jump 51% in 2025, while the NAND flash storage market could clock 29% growth. Both these markets are expected to reach record highs next year.

The growth in these memory markets will be driven by a combination of strong demand and improved pricing. TrendForce is forecasting a 35% year-over-year increase in DRAM prices next year, driven by the increasing demand for high-bandwidth memory (HBM) that’s used in AI processors, as well as the growth in DRAM deployed in servers. Meanwhile, the growing demand for enterprise-class solid-state drives (SSDs) and the growth in smartphone storage will be tailwinds for the NAND flash market.

These positive trends explain why Micron is set to begin its new fiscal year on a bright note. The company’s revenue in fiscal 2024 (which ended on Aug. 29) increased 61% year over year to $25.1 billion. The company posted a non-GAAP (generally accepted accounting principles) profit of $1.30 per share, compared to a loss of $4.45 per share in fiscal 2023, driven by a big jump in its operating margin on account of recovering memory prices.

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A truly decentralized system would decentralize authority — Cardano exec

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A truly decentralized system would decentralize authority — Cardano exec


Cardano Foundation chief technology officer Giorgio Zinetti told Cointelegraph that centralized authority is good for speed, but decentralized governance would give long-term sustainability. 



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Intel’s former CEO tried to buy Nvidia almost 2 decades ago

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Intel's former CEO tried to buy Nvidia almost 2 decades ago


Tech pioneer Intel (INTC) has seemingly missed out on the artificial intelligence boom — and part of it can reportedly be traced back to a decision not to buy the chipmaker at the center of it all almost two decades ago.

Intel’s former chief executive Paul Otellini wanted to buy Nvidia in 2005 when the chipmaker was mostly known for making computer graphics chips, which some executives thought had potential for data centers, The New York Times (NYT) reported, citing unnamed people familiar with the matter. However, Intel’s board did not approve of the $20 billion acquisition — which would’ve been the company’s most expensive yet — and Otellini dropped the effort, according to The New York Times.

Instead, the board was reportedly more interested in an in-house graphics project called Larrabee, which was led by now-chief executive Pat Gelsinger.

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Almost two decades later, Nvidia (NVDA) has become the second-most valuable public company in the world and continuously exceeds Wall Street’s high expectations. Intel, on the other hand, has seen its shares fall around 53% so far this year and is now worth less than $100 billion — around 30 times less than Nvidia’s $3.4 trillion market cap.

In August, Intel shares fell 27% after it missed revenue expectations with its second-quarter earnings and announced layoffs. The company missed profit expectations partly due to its decision to “more quickly ramp” its Core Ultra artificial intelligence CPUs, or core processing units, that can handle AI applications, Gelsinger said on the company’s earnings call.

And Nvidia wasn’t the only AI darling Intel missed out on.

Over a decade after passing on Nvidia, Intel made another strategic miss by reportedly deciding not to buy a stake in OpenAI, which had not yet kicked off the current AI hype with the release of ChatGPT in November 2022.

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Former Intel chief executive Bob Swan didn’t think OpenAI’s generative AI models would come to market soon enough for the investment to be worth it, Reuters reported, citing unnamed people familiar with the matter. The AI startup had been interested in Intel, sources told Reuters (TRI), so it could depend less on Nvidia and build its own infrastructure.

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Microsoft Urges Shareholders to Vote Against a Proposal to Assess Bitcoin as a Diversification Investment: Filing

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Microsoft Urges Shareholders to Vote Against a Proposal to Assess Bitcoin as a Diversification Investment: Filing


The National Center for Public Policy Research, a conservative think tank, has notified shareholders of Microsoft that it intends to propose a Bitcoin Diversification Assessment at the company’s annual meeting on Dec. 10, a filing shows.

In a Schedule A filing with the U.S. Securities and Exchange Commission on Thursday, Microsoft laid out issues that will be discussed at the company’s next shareholder meeting. One of the proposals suggests that the tech firm should look into bitcoin to hedge against inflation and other macroeconomic influences.

The board recommends shareholders to vote against this proposal, the filing reveals, arguing that Microsoft already “carefully considers this topic.”

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“Past evaluations have included Bitcoin and other cryptocurrencies among the options considered, and Microsoft continues to monitor trends and developments related to cryptocurrencies to inform future decision making,” according to a company statement in opposition of the proposal.

“As the proposal itself notes, volatility is a factor to consider in evaluating cryptocurrency investments for corporate treasury applications that require stable and predictable investments to ensure liquidity and operational funding. Microsoft has strong and appropriate processes in place to manage and diversify its corporate treasury for the long-term benefit of shareholders and this requested public assessment is unwarranted,” it said.

The National Center for Public Research, a member of Project 2025 argued that bitcoin is an “excellent, if not the best, hedge against inflation,” and that at minimum, companies should invest 1% of its total assets into the cryptocurrency.

Microsoft’s top shareholders include Vanguard, BlackRock and State Street.

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