Stretch (05-29-2020)
The administration also took off the gloves with China over U.S. listings by mainland companies that fail to follow U.S. securities laws. This came after the Commerce Department finally moved to limit access by Huawei Technologies to high-end silicon chips made with U.S. lithography machines. The trade war with China is heating up, but a conflict was inevitable and particularly when it comes to technology.
At the bleeding edge of 7 and 5 nanometer feature size, American tech still rules the world of semiconductors.
President Donald Trump said in an interview with Fox Business News that forcing Chinese companies to follow U.S. accounting norms would likely push them to list in non-U.S. exchanges. Chinese companies that list their shares in the U.S. have long refused to allow American regulators to inspect their accounting audits, citing direction from their government—a practice that market authorities here have been unwilling or unable to stop.
The attack by the Trump Administration on shoddy financial disclosure at Chinese firms is long overdue, but comes at a time when the political evolution in China is turning decidedly authoritarian in nature and against any pretense of market-oriented development.
The trade tensions with Washington provide a perfect foil to crack down on popular unrest in Hong Kong and discipline wayward oligarchs.
The latest moves by Beijing to take full control in Hong Kong are part of the more general retrenchment visible in China.
A torrent of western oriented Chinese business leaders is exiting before the door is shut completely.
The fact is that China’s position in U.S. trade has retreated as nations like Mexico and Vietnam have gained. Mexico is now America’s largest trading partner and Vietnam has risen to 11th, reports Qian Wang of Bloomberg News.
China has dropped from 21 percent of U.S. trade in 2018 to just 18 percent last year. A big part of the shift is due to the U.S.-Mexico-Canada trade pact, which is expected to accelerate a return of production to North America.
Sourcing for everything from autos to semiconductors is expected to rotate away from China in coming years.
As China becomes increasingly focused inward and with an eye on public security, the economic situation is likely to deteriorate further.
While many observers viewed China’s “Belt & Road” initiative as a sign of confidence and strength, in fact it was Beijing’s attempt to deal with an economic realignment that followed the 2008 crisis. The arrival of President Trump on the scene further weakened China’s already unstable mercantilist economic model, where non-existent internal demand was supposed to make up for falling global trade flows
Stretch (05-29-2020)
Forgot your source
Now does that mean Ivanka loses her trademarks to peddle her merchandise in China?
Trumpet (05-29-2020)
Instead of presiding over a glorious expansion of the Chinese sphere of influence in Asia, Xi Jinping is instead left to fight a defensive action economically and financially.
The prospective end of the special status of Hong Kong is unlikely to have any economic benefits and may actually cause China’s problems with massive internal debt and economic malaise to intensify.
Beijing’s proposed security law would reduce Hong Kong’s separate legal status and likely bring an end to the separate currency and business environment.
hina has always been weak, even if its outward behavior is aggressive, even obnoxious.
But beneath the confident exterior is a nation that still cannot feed itself, lacks stable sources of energy and is addicted to using debt to spur short-term economic growth.
As Chinese in Hong Kong and other parts of China demand greater openness and accountability, the grip on power of the Chinese Communist Party is weakening. In order to retain power, Xi Jinping must be ready to use even harsher authoritarian methods, a path that will ultimately lead to his destruction.
If you had predicted prior to 2016 that America would have a nationalist president who was willing to discard the puerile corporate interests that want closer commercial ties with China and instead pursue America’s strategic interests, most people would have rightly laughed. In 2016, we awaited the enthronement of Hillary Clinton, but remarkably got Donald Trump, who is not afraid to use China as a useful political whipping boy while also pursuing a strategy to destabilize one of the last truly authoritarian regimes on earth.
https://www.theamericanconservative....s-destruction/
Stretch (05-29-2020)
China openly supports their 'National Champions', America can't because ... that would be Socialism.
"National champions
National champion is a governmental policy in which large organizations are expected not only to seek profit but also to "advance the interests of the nation"; the government sets policies which favor these organizations.Wikipedia"
I choose my own words like the Americans of olden times........before this dystopia arrived.
DARK AGES SUCK!
They are too long, few read it all, copy and paste significant paragraphs that make your point and leave it at that
And of course her trade in China is minor, but we have a President ramping on China while his daughter promotes and profits off of her own businesses in China, seems if Trump was really interested in selling his point the first thing he would do was pull her and any business he does in China out
Darth Omar (05-29-2020)
Stretch (05-29-2020)
Blackwater Lunchbreak (05-29-2020)
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