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BRICS member China dumped a record number of US treasuries and agency debt bonds worth a staggering $53.3 billion. Historically, this is the largest sell-off initiated by China ever recorded and occurred during the first quarter of 2024. The sell-off data comes at a time when the US dollar fell to its one-month low at 104.20. Also Read: BRICS: IMF Confirms US Dollar Is in Jeopardy China and other BRICS countries have been offloading US treasuries worth billions since 2022. The Communist country has a record of dumping the highest in the last two years. The development indicates that BRICS and other developing countries want to move away from owning US assets in their reserves. The uncontrolled debt of $34.4 trillion is worrisome making  BRICS rely on local currencies and not the dollar. In addition, even a close ally of the US, Belgium dumped $22 billion worth of treasuries during the same period. Th...

ChatGPT and other similar chatbot platforms have been revolutionizing the technology space. Thanks to the launch of OpenAI’s bot in Q4 last year, artificial intelligence [AI] continues to be one of the most discussed and searched topics on the Internet. Source: Google Trends Also Read: China To Block ChatGPT Integration: Claims AI Spreads Propaganda Tencent sets up dev team to work on ChatGPT variant Tapping on the trend, several companies from the technology space have been stepping up, with Tencent being the latest organization. Citing two unnamed sources, a recent Reuters report brought to light that the Shenzhen-based Chinese multinational technology and entertainment conglomerate has “set up a development team to work on a ChatGPT -like chatbot.” Reuters’ sources were reportedly unauthorized to speak to the media and thus refused to be identified. However, they revealed, The product, to be called “HunyuanAide”, will inco...