I'm confused... UAE to cooperate with Hong Kong on fintech, crypto as China ties grow????

[jafo]

UAE to cooperate with Hong Kong on fintech, crypto as China ties grow. China's relations with the UAE and other Gulf states are strengthening, particularly regarding economic and energy matters. May 30th, 2023

What does this all mean?

 

[Martin Everson]

Not sure what is confusing? conf/(%

This is offshore China i.e Hong Kong where crypto is not restricted cooperating China. UAE has been in Camp China i.e BRICS camp for a while now and is a potential new member.

https://www.lbcgroup.tv/news/middleeast/706801/iran-saudi-arabia-uae-attend-brics-meeting-in-sout/en

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[jafo]

Martin Everson said:
UAE has been in Camp China i.e BRICS camp for a while now and is a potential new member.
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Exactly! So, why kneel for the EU when it comes to Free Zone and taxes?

 

[Martin Everson]

jafo said:
Exactly! So, why kneel for the EU when it comes to Free Zone and taxes?
Click to expand...

They had to bend to OECD because of how their economy is structured. They are unable to push back. I said it years ago on here that the wild west days of UAE are gone. Even here in Caribbean we were bullied by EU...cough cough OECD to amend our corporate laws etc.

Things however will be very different when global financial system splits along two paths in the future.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[jafo]

Martin Everson said:
Things however will be very different when global financial system splits along two paths in the future.
Click to expand...

Cheers to that and also to you, my friend! 😎