Thursday☕️

Mar 30, 2023 • 3 min read

Trending:

Markets:

USD Dominance:

China and Brazil have agreed to trade in their own currencies instead of using the US dollar.
This move is expected to reduce costs, boost bilateral trade, and facilitate investment, according to the Brazilian Trade and Investment Promotion Agency.
China is Brazil's largest trading partner, with Brazil's Chinese imports reaching $67.77 billion in 2022.
In addition, Saudi Arabia became a partner in the Shanghai Cooperation Organization, a security and trade alliance led by China and including Russia, India, Pakistan, and other countries.

SpaceX:

The Semper Citius satellite constellation is a US Space Development Agency (SDA) for providing military communications and tracking services for the US Department of Defense.

Business:

Electronic Arts (EA) is eliminating around 800 positions, 6% of its workforce, and also downsizing its office space.
The electric vehicle startup, Lucid, is cutting 18% of its workforce, around 1,300 employees.
McKinsey, a consulting firm, is eliminating around 1,400 positions.
Substack, a platform for writers, is allowing writers to purchase company shares for a minimum of $100. The firm has already raised $82 million in venture capital.
Google has partnered with Replit to merge its AI language models with Replit's AI coding software. This collaboration aims to compete with a similar offering from Microsoft, GitHub, and OpenAI.

Statistic:

China's top 10 trade partners (estimated average) by governments and analytics firms in 2022:
United States: $582.8 billion (16.2% of China’s total exports)
Hong Kong: $297.5 billion (8.3%)
Japan: $172.9 billion (4.8%)
South Korea: $162.6 billion (4.5%)
Vietnam: $147 billion (4.1%)
India: $118.5 billion (3.3%)
Netherlands: $117.7 billion (3.3%)
Germany: $116.2 billion (3.2%)
Malaysia: $93.7 billion (2.6%)
Taiwan: $81.6 billion (2.3%)

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