PharmaCyte Biotech Inc (PMCB)

[Triple9]

China China China

Everywhere I look today it's just China China China. $PMCB and Dr. Tong. Oil might soon be traded in Yuan instead of Dollars. Alibaba overtaking Amazon globally. Good grief!

China will compel Saudi Arabia to trade oil in the Chinese yuan, posing a threat to the U.S. dollar's status as the world's reserve currency. Carl Weinberg, chief economist and managing director at High Frequency Economics, told CNBC that Beijing stands to become the most dominant global player in oil demand since China usurped the U.S. as the "biggest oil importer on the planet.":

Saudi Arabia has "to pay attention to this because even as much as one or two years from now, Chinese demand will dwarf U.S. demand," Weinberg said.

"I believe that yuan pricing of oil is coming and as soon as the Saudis move to accept it — as the Chinese will compel them to do — then the rest of the oil market will move along with them."

Chinese e-commerce giant Alibaba is on track to overtake U.S. rival Amazon as the world's top cloud computing services firm, according to the Alibaba-owned South China Morning Post. Simon Hu, president of Alibaba Cloud, told the Hong Kong daily that China's vast domestic market and the Chinese government’s “Belt and Road Initiative” gives the company its confidence:

“We have taken on Amazon on all fronts as our benchmark over past three years. Some of our products have already exceeded theirs,” Hu told the South China Morning Post on the sidelines of the Alibaba Computing Conference in the Chinese city of Hangzhou, where the company is based.

“While market expansion needs to be step by step, the technical capabilities of Alibaba Cloud are as good as Amazon’s AWS,” said Hu. He had vowed in 2015 to “match or surpass Amazon in four years” in terms of customers, technology and worldwide scale.

From Barron's today.