Middle East countries deporting Uyghurs to China; Cryptocurrencies, Bitcoin face heat from all ends globally

Middle East countries deporting Uyghurs to China

 

We have been hearing about 1.3 million Uyghurs languishing in Chinese internment camps. However, recent estimates put this number at 2 million, and their number is swelling each day. In addition to action against Uyghurs across China and in Xinjiang, the Chinese Communist Party regime is now forcing countries in the Middle East to deport Uyghurs back to China.

There are many pointers to this fact. Firstly, in 2019, more than a dozen OIC countries including, the UAE, Iran, Egypt and Saudi Arabia publicly endorsed China’s policies in Xinjiang. They were among 37 signatories responding to Western criticism of China at the UN Human Rights Council. Secondly, Turkey has been increasingly mellowing down before China despite the Uyghurs sharing a common cultural and linguistic thread with the Turks. Thirdly, Pakistan, the country that has killed thousands in Kashmir but talks about its human rights in doublespeak, has denied even acknowledging the Uyghur genocide issue. Pakistan is one country entirely in the Chinese debt trap.

Moreover, former detainees call these ‘concentration camps’ as places of indoctrination intended to make prisoners renounce their religion, forcefully learn Chinese and be loyal to the CCP. Forced labour, sexual abuse and even murder are used as tools in it. Yet the countries from the Middle East and those like Turkey, Pakistan are completely silent, in fact, giving in to China.

With pandemic-shattered economies, these nations are finding it increasingly difficult to resist easy Chinese money.

Cryptocurrencies, Bitcoin face heat from all ends globally

 

Bitcoin prices have further slid, this time by 8%, after former US President Donald Trump has called it a ‘scam against the US Dollar’. During his presidency, Donald Trump had said, “I’m not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.”

Recently, US Treasury Department under the Biden administration has called for transfers of cryptocurrencies like Bitcoin over $10,000 to be reported to the IRS (Internal Revenue Service) as means to limit illegal activity, including tax evasion. Moreover, US Securities and Exchange Commission Chairman Gary Gensler said a few days back that there are calls for new regulations on cryptocurrency exchanges to prevent investors from getting ripped off.

Also, just before Trump’s statement, Bitcoin dropped 10% as China initiated action against Bitcoin. Chinese regulators blocked several Bitcoin-related accounts on its micro-blogging platform, Weibo.

Besides, two Bitcoin exchanges with millions of dollars in trading have collapsed in Turkey under government crackdown.

As uncertainty builds around cryptos, a Bank of America survey has revealed 74% of people see Bitcoin as a bubble.

Cryptocurrencies, especially Bitcoin, are facing heat from all ends across the globe from national governments.

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