Bitcoin's Pullback Could Be Your Gain

More than 70 cryptos have recently outperformed Bitcoin and it's not the first time. During crypto's last bull market the top 100 coins NOT named Bitcoin went up by 174%. Now the signs show that it's happening again. This could be a chance to strike gold in some far corners of the crypto market.

Trump Taps Perdue for China, Signaling More Tension with Beijing

Nabaparna Bhattacharya
December 07, 2024

President-elect Donald Trump will name ex-Sen. David Perdue (R-Ga.) as his choice for ambassador to China, a pivotal role in shaping the future of U.S.-China relations.

Perdue, who served in the U.S. Senate from 2015 to 2021, is known for his strong stance on China, a position that has earned him the label of “anti-China” from Chinese think tanks, BBC reports.

The selection places Perdue at the heart of one of the most critical foreign policy challenges for the United States, as tensions with China continue to escalate, particularly over trade and military influence.

Perdue’s career is a blend of business acumen and political service. Before entering politics, he held senior executive positions at major companies, including Reebok and Dollar General Corporation (NYSE:DG), per Britannica, where he became known for his successful turnarounds of struggling businesses.

His corporate background has been both praised by investors and criticized by political opponents, who argue that his methods favored shareholders over the well-being of employees.

Also Read: FBI Warns Of Ongoing China-Backed Telecom Hacks: Here’s Why Encrypted Messaging Could Be Your Last Line Of Defense

When he first ran for the Senate, Perdue presented himself as a businessman who could bring pragmatic solutions to Washington’s complex issues.

During his time in the Senate, Perdue was vocal about the growing threat posed by China. He advocated for a stronger U.S. military, particularly the Navy, to counter China’s increasing military presence in the region.

His views align with the broader “hawkish” approach of Trump’s foreign policy team, which has taken a hard line on China’s economic practices and military expansion.

In a September essay, Perdue described China’s government as a force seeking to undermine U.S. capitalism and democracy, framing the nation as a strategic adversary, CNN reports.

The Trump administration has vowed to impose tough tariffs on Chinese imports, citing the longstanding trade imbalance between the two nations.

Perdue’s appointment as ambassador is expected to play a key role in managing this delicate and potentially volatile relationship, as the U.S. looks to navigate the complex dynamics of trade, security, and diplomacy with one of its biggest global rivals.

Perdue lost his Senate seat to Democrat Jon Ossoff in 2020 and later ran unsuccessfully for governor of Georgia in 2022, challenging incumbent Republican Gov. Brian Kemp in a primary that Kemp won easily.

During his gubernatorial campaign, he echoed Trump’s false claims of electoral fraud in the 2020 election.

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Photo: Wikimedia Commons

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