FEATURED IN TODAYS NEWSLETTER

• Beyond Numbers: Using Music to Amplify Outcomes in Development Finance

• US Struggles to Rein in Xi’s Ambitions for Tech Dominance

• Crypto’s Dark Days Loom: The Worst May Still Be on the Horizon

Business

Beyond Numbers: Using Music to Amplify Outcomes in Development Finance

The global approach to investing in human and infrastructure development is under review. The World Bank Group’s International Development Association (IDA) will finalize its three-year replenishment budget, estimated at $120 billion, during a meeting in Seoul on December 5-6. With just 18% of requested crisis funding raised globally last year, and developing nations struggling with debt, how these funds are deployed is critical. Beyond replenishing resources, there’s an urgent need to broaden investment strategies. One promising avenue lies in the creative and cultural industries—particularly music—which holds untapped economic potential. Though music is widespread and accessible, many countries lack the infrastructure—such as copyright enforcement, education, and industry capacity—to develop it as a viable economy. Despite these challenges, music is growing, with global revenues and collections rising steadily, especially in emerging markets across Africa and Latin America. However, without local infrastructure, much of the value created leaves these regions. Strategic development finance focused on building music ecosystems could unlock sustainable economic growth and make the creative sector a powerful tool for addressing global challenges.

LATEST IN CRYPTO

Crypto’s Dark Days Loom: The Worst May Still Be on the Horizon

Cryptocurrency has been declared "dead" so often that it’s become a joke within the industry. According to 99Bitcoins, Bitcoin’s obituary has been written at least 477 times since 2010. Another wave of eulogies came last year after the collapse of major crypto players like FTX and a string of SEC lawsuits against blockchain companies. In April 2023, tech investor Chamath Palihapitiya declared on the All-In podcast, “Crypto is dead in America,” while outlets like The Wall Street Journal and The Atlantic questioned whether the technology had once again met its end.

TECH

US Struggles to Rein in Xi’s Ambitions for Tech Dominance

Since Donald Trump imposed tariffs on China in 2018, efforts to curb its economic and technological rise have grown into a bipartisan push to prevent it from surpassing the U.S. economy and threatening military dominance. On the surface, the campaign seems effective—China's economy is falling behind, its tech giants struggle to access advanced AI chips, and U.S. allies are restricting China’s access to top-tier chip-making equipment. However, despite years of tariffs, sanctions, and export controls, Xi Jinping is advancing China’s long-term goals. Bloomberg research shows that the "Made in China 2025" plan has made significant progress, with China leading in five of 13 key technologies and rapidly catching up in seven more.