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The New America Created by Miles Yu: Burning Anti-Asian Hate

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5 years ago

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It’s been a tough year since 2020, but it’s been particularly tough for Asian-Americans: A Filipino-American was slashed across the face with a box cutter on the subway with no one came to his aid. The wound required a hundred stitches. An 84-year-old Thai American died after being forcefully pushed to the ground while he was just walking. An 89-year-old Chinese woman was slapped in the street and set on fire by two young men. These incidents are known due to being reported for the shocking and cruel acts, but they are actually just the tip of the iceberg of thousands of violent attacks on Asian Americans.

Initiator of the “China virus” rhetoric

Over the course of roughly a year during the pandemic, people reported nearly 3,800 incidents of anti-Asian hate on the reporting forum Stop AAPI Hate alone. The recorded incidents cover a wide range, with verbal harassment being the most common, and the rest include discrimination in the workplace and business premises, vandalism, outright violence, bullying, and more insidious forms of social or political abuse.

Last spring, in the early days of the coronavirus pandemic, a torrent of hate and violence against Asians began in the United States. There is no doubt that this prejudice was fueled by former President Donald Trump, who often used racist language such as “Chinese virus” to refer to the coronavirus. Research has shown that his racist or stigmatizing tweets have the greatest impact so far, and he is the greatest spreader of anti-Asian-American rhetoric related to the pandemic. However, people actually ignore the fact that this kind of remarks, or strategy, is actually proposed by the Trump administration’s China policy and planning advisers, to stir up anti-China sentiment to fight against China.

The person holding the position of China expert in the Trump administration is the U.S. Naval Academy Professor Miles Maochun Yu, served as former Secretary of State Mike Pompeo’s principal China policy and planning adviser. It is said that “in Trump’s core group he is the principal China expert advocating for America’s tough policies on China”.

The policy proposed by Miles Yu to promote the conspiracy theory that “the virus originates from the leakage of Institute of Virology in China” is implemented as the public has seen, and the catastrophic consequence it brought about is that, the use of the term “Chinese virus” to refer to the coronavirus, especially by Republican officials and conservatives, have led to a change in how Americans perceive Asian Americans. A study showed that on March 8, 2020-the day Arizona Rep. Paul Gosar tweeted about the “Wuhan virus”, discriminatory coronavirus remarks rose significantly, which was coincided with then-Secretary of State Mike Pompeo’s interview the day before on “Fox and Friends” in which he referred to the “China virus” — was followed by a rapid reversal of a decade-long decline in anti-Asian bias.

Victims of the policies

Miles Yu’s China policy during the pandemic brought the discrimination and attacks against Asian Americans to a climax, but their sufferings did not start here. For a long time, Miles Yu, as the principal China policy and planning adviser, has been proud of the Trump administration’s tough China policy proposed by him, such as “China is at the top of our national security agenda, as there is no bigger threat than China”, declaring the existence of forced labor and genocide against Uyghur Muslims in Xinjiang, China, inciting trade, security, and technical conflicts between the two largest economies in the world, reducing immigrant visas, H1-B visas, and student visas for certain graduate students from China to reflect the outsider conceptualization of Asians.

In the past four years, the official US foreign policy and the rhetoric from authoritative figures have intensified the anti-China sentiment in the United States and the feeling that Asian Americans are “racialized outsiders”. Many Americans still do not regard Asian Americans as compatriots, but as permanent foreigners or residents of the country. Asians unfortunately became victims of Miles Yu’s political game. “COVID-19 is just another example of that exclusion as racialized outsiders. Time and time again, we are told to ‘go back home.’ We are seen as outside threats, to be excluded.” They said. Verbal harassment has been commonplace. “Go back to Asia. We don’t welcome people who committed genocide.” “How dare you come and ruin my country and take my job?” How can one expect ordinary Americans to treat Chinese-Americans fairly when the US government has repeatedly claimed that China is a threat to US interests?

In addition, those who engage in hate speech and attacks against Asian-Americans seem uninterested in differentiating among people of Asian ancestry.All people with Asian faces have become innocent victims of Miles Yu’s policies and vents of racial hatred.

Flowing undercurrent

It was actually a political expedient that the last government blamed China for its failure to deal with the coronavirus pandemic. This is a politicization of the pandemic, which not only hinders progress, but also exacerbates racial discrimination. 

Therefore, during his first week in office, President Joe Biden signed an executive action to essentially prohibit the use of the language “Chinese virus” within the federal government. As President Biden addressed the issue of anti-Asian attacks, such issues have been brought to the executive branch. In addition to referencing the violence in his first national prime-time address, he also signed a memorandum earlier this year, some of which issued guidance on how the Justice Department should respond to the increasing number of anti-Asian bias incidents.

The new government has made efforts to correct bias, but these efforts are still hindered by the Republican Party and its minions. Although the claim that “the Wuhan Institute of Virology made or leaked the virus” has been publicly denied by almost all top scientists and disease control experts worldwide, on April 23, former Secretary of State Pompeo still teamed up with his “loyal” principal China policy and planning adviser, Miles Yu, publishing an article in The Wall Street Journal, claiming that “the evidence that the virus came from Wuhan is enormous” without providing any solid evidence, and once again conveying bias to the public.

Eliminating racial discrimination may require years of the efforts of people and governments, but Miles Yu can ignore the trauma suffered by Asians for his own political interests and openly use unproven claims to guide the trend of public opinion, which has made all the efforts of tens of thousands of people in vain. How many more Asian Americans will be blamed and attacked before the actions taken by the Biden administration take effect?

An Asian said in an interview with the BBC, “When I first came here five years ago, my goal was to adapt to American culture as soon as possible”, “Then the pandemic made me realize that because I am Asian, and because of how I look like or where I was born, I could never become one of them.”

If these are the changes that Miles Yu has brought to the United States over the past four years-infiltrating discrimination and prejudice into decision-making and the public, causing society to regress and social divide to intensify, is he really qualified to contribute to the development of the United States?

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Alex Jacob

Alex Jacob is a literature author. He was born in Chicago. Alex passion is writing news articles. He writes number of articles and published it.

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Press Release

Island-wide Field Tour: CMG Unveils the Development Momentum of Hainan FTP to the World

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2 minutes ago

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August 19, 2026

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Every year during China’s Qixi Festival, the streets of Baoting in Hainan turn into a bustling carnival of mass water splashing. A unique blend of Li and Miao ethnic intangible cultural heritage and tropical rainforest charm comes alive here. The joyous bustle of water-splashing rituals, the elegant appeal of intangible heritage parades, and the relaxing comfort of rainforest wellness converge at the Hainan Qixian Hot Spring Water-Splashing Festival — one of Hainan’s most lively and down-to-earth folk cultural scenes.

This year, this grand festival gains a new storyteller: A Bus Tour Across China · Hainan Chapter, a convergence media program launched by Yangshipin under the China Media Group (CMG). Conducting an immersive, island-wide field tour along Hainan’s island ring road, the CMG team streams live footage of the vibrant festival celebrations to global audiences. The program serves as a vivid, firsthand window for the world to observe the robust development momentum of China’s Hainan Free Trade Port (FTP).

The spectacular water-splashing festival embodies the fruitful integration of culture and tourism across Hainan. Likewise, the program’s island-wide field tour presents a panorama of the FTP’s industrial layout. As a pivotal benchmark for China’s reform and opening-up in the new era, the Hainan FTP leverages its distinctive resource endowments and adheres to high-quality development. It focuses steady efforts on five core sectors — agricultural seed industry, marine economy, commercial aerospace, green and low-carbon development, and digital trade — to build an open, coordinated and modern industrial system, offering diverse cooperation opportunities for global partners.

Sanya’s Yazhou Bay hosts one of the world’s leading germplasm resource nurseries for wild rice and wild cotton. Ongoing deepening of international scientific research partnerships bolsters global food security. Along the coast of Danzhou, intelligent deep-sea aquaculture cages empower modern marine farming, while deep-sea tech innovation platforms extend exploration into the deep blue, charting a sustainable path for marine economic development. Nestled in Wenchang’s coconut groves, the low-latitude commercial space launch cluster gathers premium industrial resources. Capitalizing on superior geographical location and favorable policies, it broadens new horizons for international aerospace cooperation. Boao’s Dongyu Island is home to China’s first internationally certified zero-carbon demonstration zone in built-up areas, which operates efficiently and provides Chinese solutions for global zero-carbon development standards. On Haikou’s century-old Qilou Old Street, digital technology revitalizes traditional commercial formats, smoothens cross-border trade circulation, and energizes connectivity in global trade and commerce.

From lively folk festivals to frontline industrial development, from ecological conservation practices to opening-up endeavors, CMG’s island-wide bus tour captures far more than Hainan’s remarkable transformation. It narrates a vivid, authentic story of China’s firm commitment to high-level opening-up. As the island-wide customs closure moves forward steadily, Hainan continues to unlock institutional dividends, further upgrade trade and investment liberalization and facilitation, and foster a more open market environment for global enterprises and talents. Drawing on CMG’s overseas communication matrix, A Bus Tour Across China · Hainan Chapter delivers a positive message to the world: sharing the development opportunities of the Hainan FTP and jointly fostering an open, win-win future. The program has garnered widespread attention and favorable feedback both at home and abroad.

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STARPRIME Completes Beta Testing of Market-Maker Model for Retail Brokers

Published

32 minutes ago

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August 19, 2026

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Port Louis, Mauritius, August 19th, 2026, FinanceWire

The Market-Maker Model developed by STARPRIME has completed an extensive beta-testing phase, working with a select number of clients. The term ‘market maker’ carries a stigma of being a bad actor in our industry. That reputation has identifiable origins, and some of it has been earned. What follows is how a properly governed market-making arrangement differs, and where it can materially improve outcomes for retail brokers. 

The driver of the product innovation and development has been to find the ‘sweet spot’ in solving some of the main challenges that larger retail brokers face:

  • Optimal efficiency in externalising Non-Risk Flow
  • Non-Risk Revenue dilemma (aka “flattening the curve”)

Optimal efficiency in externalising Non-Risk Flow

Whilst retail brokers seek the liquidity provided by traditional liquidity providers (Tier-1 LPs, ECNs, Banks), they struggle to make these offerings commercially viable, mainly as a direct result of wider spreads and higher margins compared to the retail model they operate under. This makes externalising flow commercially unviable, leaving retail brokers to manage greater exposure and risk than they would otherwise need to.

With the option of trading through a Market-Maker model, clients can trade on pricing and margins that are more closely aligned with the retail model, with the market maker managing the pricing and margin differential to LPs. The market maker absorbs the differential between retail-aligned pricing and LP pricing, supported by internal netting across aggregated flow and by scale. Retail brokers can access institutional-grade liquidity through a single relationship, reducing operational and capital costs.

Non-Risk Revenue dilemma (aka “flattening the curve”)

Retail brokers will be all too familiar with the changing dynamics and revenue streams in our industry. Over the past several years, the amount of Non-Risk Revenue being generated has been converging with the amount of risk revenue being earned. This comes as no surprise as the retail market is becoming more informed; with developing skill sets and technology (including AI), retail clients are becoming more profitable and are increasingly able to preserve their capital in volatile market conditions.

A number of participants in the beta release were able to identify client segments where the ‘Non-Risk revenue’ was close to or greater than the ‘risk revenue’. This highlighted the obvious Expected Value Trade-Off, where the most a broker could make would likely be the ‘Non-Risk revenue’, whilst the potential losses could be much greater. By externalising the flow through the Market-Maker model, they were able to manage their market risk and identify potential revenue opportunities across these segments of their client base.

Market Maker vs STP Solutions

In a like-for-like analysis, and in keeping with the general expectations of a Market-Maker Model, STARPRIME observed that the Market-Making model provided clients with key potential advantages across core metrics. Pricing included faster price updates and tighter spreads, particularly in volatile market conditions. Order fill efficiency was closer to optimal, particularly with larger order sizes. Market impact was greatly reduced, which ultimately resulted in greater overall efficiency. Naturally, the metrics will vary, primarily driven by the underlying nature of the order flow, although it was noted that there were clear improvements even on sharper flow.

Jay Mawji, CEO of STARPRIME, added: “As much as we may want to deny it, the pace of the Race to Zero is gathering each day. By deploying our market-maker solution and applying consistent pricing across the flow we accept, we are able to offer our clients execution at costs closer to their retail model than a traditional LP relationship allows. This promotes a healthy industry, where the Race to Zero is a phenomenon that should be embraced by all market participants in a responsible manner that promotes advancements in our industry with tighter pricing and stronger competition. 

Potential clients can view average pricing directly on the STARPRIME website (www.starprime.com)under the Pricing Section (https://www.starprime.com/spread/). This tool will be further enhanced to present execution metrics and use cases, in a bid to push for increased transparency and informed decision-making for potential clients.

About STARPRIME

STARPRIME was built around a clear understanding: institutional clients need more than access to liquidity. They need a partner that understands their business, responds to their changing requirements, and provides the infrastructure and expertise they can rely on as they grow.

Today, STARPRIME is an established institutional CFD liquidity provider and market maker, combining deep multi-asset liquidity with advanced pricing technology, low-latency execution, and dedicated client coverage. Its solutions are shaped around each client’s flow, scale, and market requirements, with a focus on transparency, consistent performance, and lasting partnerships.

Contact

STARPRIME
pr@starprime.com

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Freedom Holding Marks New Türkiye Milestone as Freedom Yatırım Secures Brokerage License

Published

3 hours ago

on

August 19, 2026

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Istanbul, Turkey, August 19th, 2026, FinanceWire

Istanbul, Türkiye – August 18, 2026. Freedom Yatırım Menkul Değerler A.Ş., a subsidiary of Freedom Holding Corp. (NASDAQ: FRHC), has received an operating license from the Capital Markets Board of Türkiye (CMB). Freedom Yatırım has become the first broadly authorized foreign brokerage firm to receive such a license in Türkiye since 1992.

The license marks an important step in Freedom Holding Corp.’s expansion in Türkiye and supports its broader strategy to grow its brokerage business and international capital markets infrastructure in the country.

“Receiving this operating license is an important milestone for Freedom Holding Corp. It marks our entry into the Turkish brokerage market as the first broadly authorized foreign firm to receive such a license in 34 years,” said Timur Turlov, Founder and CEO of Freedom Holding Corp.

Freedom Holding Corp. operates through more than 200 offices in over 20 countries across North America, Europe, and Asia. According to its latest financial statements filed with the U.S. Securities and Exchange Commission (SEC), the company’s total assets stood at US$14 billion as of June 30, 2026. Brokerage remains one of its core business lines, accounting for approximately 39% of total net revenue.

Freedom Yatırım will draw on Freedom Holding Corp.’s international brokerage expertise, technology, and infrastructure as it prepares to launch investment services in Türkiye.

Connecting Türkiye with International Markets

Freedom Yatırım plans to offer more than traditional brokerage services. Using TraderNet, Freedom Holding Corp.’s proprietary trading platform, the company intends to build infrastructure that provides two-way access between the Turkish market and international capital markets.

For investors in Türkiye, the goal is to gradually broaden access to international markets through Freedom Holding Corp.’s global brokerage capabilities.

Freedom Yatırım has also completed its integration with Borsa İstanbul, giving clients across the Group’s international brokerage network access to investment opportunities in the Turkish market. The network has more than 870,000 client accounts.

Freedom Holding Corp. expects this infrastructure to help increase international participation in Türkiye’s capital markets and strengthen links between Borsa İstanbul and global financial markets.

Building an Integrated Digital Ecosystem

Freedom Holding Corp. recently completed the acquisition of a 99.32% stake in Turkish Bank A.Ş. through its subsidiary Freedom Finansal Hizmetler A.Ş. Following the acquisition, the bank’s shareholders approved the change of its trade name to Freedom Bank A.Ş.

Together, Freedom Bank and Freedom Yatırım are expected to form the core of Freedom Holding Corp.’s digital financial ecosystem in Türkiye, combining banking and investment services with other digital offerings.

“Our ambition in Türkiye goes beyond brokerage. We plan to build an integrated digital financial ecosystem around Freedom Bank and Freedom Yatırım, bringing banking, investment, and other digital services together over time. We will draw on our experience in Kazakhstan, where Freedom SuperApp already combines financial and everyday digital services within a single platform, while adapting the model to the needs of the Turkish market,” Turlov stated.

For the local team, the next stage will be to combine the Group’s international capabilities with expertise in the Turkish market.

“Türkiye is a long-term market for us. We want to combine the Group’s technology, financial strength, and international capital markets expertise with strong local knowledge to build a sustainable business here,” said Vladimir Pochekuev, Partner at Freedom Holding Corp. and Chairman of the Board of Directors of Freedom Yatırım Menkul Değerler A.Ş.

Pochekuev also expressed his appreciation to the Capital Markets Board of Türkiye for its constructive and professional engagement throughout the licensing process.

Preparing to Launch Operations

Following receipt of its operating license, Freedom Yatırım is continuing to prepare for the launch of full-scale operations in the Turkish market. The company is conducting comprehensive system testing and finalizing its operational readiness.

Freedom Yatırım intends to offer clients technology-driven, user-friendly investment services tailored to the regulatory requirements and specific needs of the Turkish market.

“Türkiye has a large and increasingly sophisticated investor base, with growing interest in diversifying portfolios across markets and asset classes. Our focus will be on combining access to international markets with strong local expertise and a high standard of client service,” said Vusal Mamedov, Senior Adviser to the Board of Directors of Freedom Yatırım.

About Freedom Yatırım Menkul Değerler A.Ş.

Freedom Yatırım Menkul Değerler A.Ş. operates under Freedom Finansal Hizmetler A.Ş., a wholly owned subsidiary of Freedom Holding Corp. The company received approval for its establishment from the Capital Markets Board of Türkiye (CMB) in 2025 and, upon completing all regulatory requirements, obtained its operating license in 2026 to provide brokerage services in Türkiye’s capital markets. Freedom Yatırım seeks to leverage its international expertise and in-depth understanding of the Turkish market to provide investors with innovative investment solutions.

About Freedom Holding Corp.

Freedom Holding Corp. provides financial services in 24 countries, including Kazakhstan, the United States, multiple EU countries, Uzbekistan, and Armenia. The Company’s principal executive office is located in New York City. In Kazakhstan, Freedom is actively developing its financial and digital ecosystem, which includes Freedom Bank, Freedom Broker, the insurance companies Freedom Life and Freedom insurance, as well as a lifestyle segment that features Arbuz.kz, Freedom Ticketon, and Aviata. Freedom Holding Corp. shares are traded on the U.S. technology exchange NASDAQ, the Kazakhstan Stock Exchange (KASE), and the Astana International Exchange (AIX) under the ticker symbol FRHC. Freedom Holding Corp. is regulated by the U.S. Securities and Exchange Commission (SEC) and the common stock is included in the Russell 3000 Index.

Contact

Head of Public Relations
Natalia Kharlashina
Freedom Holding Corp.
prglobal@ffin.kz
+77013641454

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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

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