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Chinese Gen Zers Powering a Massive Gold Rush in China

China's Younger Generation Powering a Massive Gold Rush

A new trend emerges in China as the younger generation rushes to buy Gold. This shift towards investing in Gold is fueled by its perceived stability and lower risks, making it an attractive safe-haven asset for many Chinese individuals, especially the youth.

Recent data shows a significant increase in the inclination of Chinese Gen Zers towards purchasing Gold, with a notable surge from 16 per cent in 2016 to nearly 60 per cent in 2021.

This growing interest in Gold as an investment option reflects a changing consumer landscape in China, where Gold is regaining popularity among mainstream consumers.

As gold prices continue to rise and economic uncertainties prevail, more young Chinese individuals turn to Gold as a valuable asset to safeguard their wealth and assets.

This surge in gold purchases among the younger generation underscores a broader trend towards diversifying investment portfolios and seeking financial security in uncertain times.

Embracing Gold as a valuable investment option, the younger generation in China is reshaping the investment landscape and driving a new wave of interest in this precious metal.

China's Younger Generation Powering a Massive Gold Rush

Recently, there has been a notable shift in consumer preferences among China’s younger generation, with a growing inclination towards investing in Gold over traditional choices like diamonds.

This shift represents a significant trend that reflects changing perceptions and priorities among the youth demographic in China.

One of the key drivers behind the increasing preference for Gold among China’s younger generation is its reputation as a safe-haven investment.

In times of economic uncertainty and market volatility, Gold has demonstrated its resilience and stability, making it an attractive choice for risk-averse investors.

The younger population in China, witnessing global economic fluctuations and seeking to secure their financial futures, view Gold as a reliable asset that offers a hedge against inflation and market risks.

The prevailing economic uncertainty and inflation concerns have prompted China’s younger demographic to turn to Gold as a safe-haven investment.

gold china

With the global economic landscape evolving rapidly, many young Chinese investors seek stability and resilience in their investment choices. With its intrinsic value and historical relevance as a hedge against inflation, Gold provides a sense of security in times of financial turbulence.

The pivotal role of Gold in diversifying investment portfolios and mitigating risks becomes even more pronounced during uncertain economic times.

Additionally, the allure of Gold lies in its timeless appeal and seamless liquidity, making it a sought-after asset among China’s youth.

As inflationary pressures loom, the younger generation recognizes the enduring value of Gold and its ability to retain purchasing power over the long term.

By embracing Gold as a store of value and a symbol of wealth preservation, young Chinese investors are aligning their investment strategies with the prevailing economic uncertainties.

Social media platforms have become the epicentre of trends and influences in today’s fast-paced digital world, and gold ownership is no exception.

China's Younger Generation Powering a Massive Gold Rush

Influencers and trendsetters strongly sway the younger generation, shaping their perceptions and preferences regarding investment choices.

Through compelling content and engaging narratives, influencers have successfully positioned Gold as a symbol of financial security and long-term wealth preservation, resonating with the aspirational goals of young investors.

The power of social media to amplify trends and create a buzz around gold ownership has fueled a surge in interest among tech-savvy youth, aligning traditional values with modern investment strategies.

With lower risks and fewer fluctuations than other investments, Gold has become a popular choice among the youth in China. This shift in consumer behaviour reflects a growing interest in financial security and stability among the younger population.

As the demand for Gold continues to rise, it is clear that the tradition of valuing Gold as a tangible asset is being passed down to the next generation in China.

This trend showcases a cultural appreciation for Gold’s enduring value and timeless appeal, positioning it as a favoured investment choice for the youth in China.

Inflation Climbs, China Data Weighs On The FTSE 100

Inflation Climbs, China Data Weighs On The FTSE 100

 

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Google’s Search Dominance Is Unwinding, But Still Accounting 48% Search Revenue

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Google is so closely associated with its key product that its name is a verb that signifies “search.” However, Google’s dominance in that sector is dwindling.

According to eMarketer, Google will lose control of the US search industry for the first time in decades next year.

Google will remain the dominant search player, accounting for 48% of American search advertising revenue. And, remarkably, Google is still increasing its sales in the field, despite being the dominating player in search since the early days of the George W. Bush administration. However, Amazon is growing at a quicker rate.

google

Google’s Search Dominance Is Unwinding

Amazon will hold over a quarter of US search ad dollars next year, rising to 27% by 2026, while Google will fall even more, according to eMarketer.

The Wall Street Journal was first to report on the forecast.

Lest you think you’ll have to switch to Bing or Yahoo, this isn’t the end of Google or anything really near.

Google is the fourth-most valued public firm in the world. Its market worth is $2.1 trillion, trailing just Apple, Microsoft, and the AI chip darling Nvidia. It also maintains its dominance in other industries, such as display advertisements, where it dominates alongside Facebook’s parent firm Meta, and video ads on YouTube.

To put those “other” firms in context, each is worth more than Delta Air Lines’ total market value. So, yeah, Google is not going anywhere.

Nonetheless, Google faces numerous dangers to its operations, particularly from antitrust regulators.

On Monday, a federal judge in San Francisco ruled that Google must open up its Google Play Store to competitors, dealing a significant blow to the firm in its long-running battle with Fortnite creator Epic Games. Google announced that it would appeal the verdict.

In August, a federal judge ruled that Google has an illegal monopoly on search. That verdict could lead to the dissolution of the company’s search operation. Another antitrust lawsuit filed last month accuses Google of abusing its dominance in the online advertising business.

Meanwhile, European regulators have compelled Google to follow tough new standards, which have resulted in multiple $1 billion-plus fines.

google

Pixa Bay

Google’s Search Dominance Is Unwinding

On top of that, the marketplace is becoming more difficult on its own.

TikTok, the fastest-growing social network, is expanding into the search market. And Amazon has accomplished something few other digital titans have done to date: it has established a habit.

When you want to buy anything, you usually go to Amazon, not Google. Amazon then buys adverts to push companies’ products to the top of your search results, increasing sales and earning Amazon a greater portion of the revenue. According to eMarketer, it is expected to generate $27.8 billion in search revenue in the United States next year, trailing only Google’s $62.9 billion total.

And then there’s AI, the technology that (supposedly) will change everything.

Why search in stilted language for “kendall jenner why bad bunny breakup” or “police moving violation driver rights no stop sign” when you can just ask OpenAI’s ChatGPT, “What’s going on with Kendall Jenner and Bad Bunny?” in “I need help fighting a moving violation involving a stop sign that wasn’t visible.” Google is working on exactly this technology with its Gemini product, but its success is far from guaranteed, especially with Apple collaborating with OpenAI and other businesses rapidly joining the market.

A Google spokeswoman referred to a blog post from last week in which the company unveiled ads in its AI overviews (the AI-generated text that appears at the top of search results). It’s Google’s way of expressing its ability to profit on a changing marketplace while retaining its business, even as its consumers steadily transition to ask-and-answer AI and away from search.

google

Google has long used a single catchphrase to defend itself against opponents who claim it is a monopoly abusing its power: competition is only a click away. Until recently, that seemed comically obtuse. Really? We are going to switch to Bing? Or Duck Duck Go? Give me a break.

But today, it feels more like reality.

Google is in no danger of disappearing. However, every highly dominating company faces some type of reckoning over time. GE, a Dow mainstay for more than a century, was broken up last year and is now a shell of its previous dominance. Sears declared bankruptcy in 2022 and is virtually out of business. US Steel, long the foundation of American manufacturing, is attempting to sell itself to a Japanese corporation.

Could we remember Google in the same way that we remember Yahoo or Ask Jeeves in decades? These next few years could be significant.

SOURCE | CNN

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The Supreme Court Turns Down Biden’s Government Appeal in a Texas Emergency Abortion Matter.

Supreme Court

(VOR News) – A ruling that prohibits emergency abortions that contravene the Supreme Court law in the state of Texas, which has one of the most stringent abortion restrictions in the country, has been upheld by the Supreme Court of the United States. The United States Supreme Court upheld this decision.

The justices did not provide any specifics regarding the underlying reasons for their decision to uphold an order from a lower court that declared hospitals cannot be legally obligated to administer abortions if doing so would violate the law in the state of Texas.

Institutions are not required to perform abortions, as stipulated in the decree. The common populace did not investigate any opposing viewpoints. The decision was made just weeks before a presidential election that brought abortion to the forefront of the political agenda.

This decision follows the 2022 Supreme Court ruling that ended abortion nationwide.

In response to a request from the administration of Vice President Joe Biden to overturn the lower court’s decision, the justices expressed their disapproval.

The government contends that hospitals are obligated to perform abortions in compliance with federal legislation when the health or life of an expectant patient is in an exceedingly precarious condition.

This is the case in regions where the procedure is prohibited. The difficulty hospitals in Texas and other states are experiencing in determining whether or not routine care could be in violation of stringent state laws that prohibit abortion has resulted in an increase in the number of complaints concerning pregnant women who are experiencing medical distress being turned away from emergency rooms.

The administration cited the Supreme Court’s ruling in a case that bore a striking resemblance to the one that was presented to it in Idaho at the beginning of the year. The justices took a limited decision in that case to allow the continuation of emergency abortions without interruption while a lawsuit was still being heard.

In contrast, Texas has been a vocal proponent of the injunction’s continued enforcement. Texas has argued that its circumstances are distinct from those of Idaho, as the state does have an exemption for situations that pose a significant hazard to the health of an expectant patient.

According to the state, the discrepancy is the result of this exemption. The state of Idaho had a provision that safeguarded a woman’s life when the issue was first broached; however, it did not include protection for her health.

Certified medical practitioners are not obligated to wait until a woman’s life is in imminent peril before they are legally permitted to perform an abortion, as determined by the state supreme court.

The state of Texas highlighted this to the Supreme Court.

Nevertheless, medical professionals have criticized the Texas statute as being perilously ambiguous, and a medical board has declined to provide a list of all the disorders that are eligible for an exception. Furthermore, the statute has been criticized for its hazardous ambiguity.

For an extended period, termination of pregnancies has been a standard procedure in medical treatment for individuals who have been experiencing significant issues. It is implemented in this manner to prevent catastrophic outcomes, such as sepsis, organ failure, and other severe scenarios.

Nevertheless, medical professionals and hospitals in Texas and other states with strict abortion laws have noted that it is uncertain whether or not these terminations could be in violation of abortion prohibitions that include the possibility of a prison sentence. This is the case in regions where abortion prohibitions are exceedingly restrictive.

Following the Supreme Court’s decision to overturn Roe v. Wade, which resulted in restrictions on the rights of women to have abortions in several Republican-ruled states, the Texas case was revisited in 2022.

As per the orders that were disclosed by the administration of Vice President Joe Biden, hospitals are still required to provide abortions in cases that are classified as dire emergency.

As stipulated in a piece of health care legislation, the majority of hospitals are obligated to provide medical assistance to patients who are experiencing medical distress. This is in accordance with the law.

The state of Texas maintained that hospitals should not be obligated to provide abortions throughout the litigation, as doing so would violate the state’s constitutional prohibition on abortions. In its January judgment, the 5th United States Circuit Court of Appeals concurred with the state and acknowledged that the administration had exceeded its authority.

SOURCE: AP

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Supreme Court Rejects Appeal From ‘Pharma Bro’ Martin Shkreli, To repay $6.4 Million

shkreli

Washington — The Supreme Court rejected Martin Shkreli’s appeal on Monday, after he was branded “Pharma Bro” for raising the price of a lifesaving prescription.

Martin appealed a decision to repay $64.6 million in profits he and his former company earned after monopolizing the pharmaceutical market and dramatically raising its price. His lawyers claimed the money went to his company rather than him personally.

The justices did not explain their reasoning, as is customary, and there were no notable dissents.

Prosecutors, conversely, claimed that the firm had promised to pay $40 million in a settlement and that because Martin orchestrated the plan, he should be held accountable for returning profits.

shkreli

Supreme Court Rejects Appeal From ‘Pharma Bro’ Martin Shkreli

Martin was also forced to forfeit the Wu-Tang Clan’s unreleased album “Once Upon a Time in Shaolin,” which has been dubbed the world’s rarest musical album. The multiplatinum hip-hop group auctioned off a single copy of the record in 2015, stipulating that it not be used commercially.

Shkreli was convicted of lying to investors and defrauding them of millions of dollars in two unsuccessful hedge funds he managed. Shkreli was the CEO of Turing Pharmaceuticals (later Vyera), which hiked the price of Daraprim from $13.50 to $750 per pill after acquiring exclusive rights to the decades-old medicine in 2015. It cures a rare parasite condition that affects pregnant women, cancer patients, and HIV patients.

shkreli

He defended the choice as an example of capitalism in action, claiming that insurance and other programs ensured that those in need of Daraprim would eventually receive it. However, the move prompted criticism, from the medical community to Congress.

shkreli

Supreme Court Rejects Appeal From ‘Pharma Bro’ Martin Shkreli

Attorney Thomas Huff said the Supreme Court’s Monday ruling was upsetting, but the high court could still overturn a lower court judgment that allowed the $64 million penalty order even though Shkreli had not personally received the money.

“If and when the Supreme Court does so, Mr. Shkreli will have a strong argument for modifying the order accordingly,” he told reporters.

Shkreli was freed from prison in 2022 after serving most of his seven-year sentence.

SOURCE | AP

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