U.S. Argues For More Protectionism And Subsidies
Last week Secretary of the Treasury Janet L. Yellen gave a speech on the U.S.-China economic relationship. I called it a declaration of war.
Yesterday National Security Advisor Jake Sullivan held a speech on 'Renewing American Economic Leadership' which touched on some of the same themes as Yellen's speech.
Sullivan argues that the U.S. must change course from opening markets and liberalization to targeted protectionism and subsidies for specific sectors. The main argument for it is 'national security' but the real aim seems to be the suppression of competition from others. In a core sentence Sullivan says:
[W]e are protecting our foundational technologies with a small yard and high fence.As I’ve argued before, our charge is to usher in a new wave of the digital revolution—one that ensures that next-generation technologies work for, not against, our democracies and our security.
We’ve implemented carefully tailored restrictions on the most advanced semiconductor technology exports to China. Those restrictions are premised on straightforward national security concerns. Key allies and partners have followed suit, consistent with their own security concerns.
We’re also enhancing the screening of foreign investments in critical areas relevant to national security. And we’re making progress in addressing outbound investments in sensitive technologies with a core national security nexus.
These are tailored measures. They are not, as Beijing says, a “technology blockade.” They are not targeting emerging economies. They are focused on a narrow slice of technology and a small number of countries intent on challenging us militarily.
I do not understand what the 'small yard' is supposed to mean but the U.S. is indeed building a high fence. It is not a fence to protect the U.S. but a fence that is build to isolate China.
The U.S., by pressing its 'allies' in Europe and Asia, is trying to deny China the ability to acquire or produce computer chips. The newest lithographic machines The Dutch company ASML produces are now prohibited from export to China. Its CEO says that if the restrictions are held up others will build similar machines:
Wennink said at ASML's annual meeting on Wednesday that he was not worried about rivals in Japan, the U.S. or China being close to building cutting edge commercial lithography products."But it can happen of course, so it is absolutely essential that we get to keep having market acess to China", which is the largest market for computer chips globally. "Market access is as important to us as it is to our Chinese customers," he said.
The U.S. controlled neocons in German's government are under pressure to prohibit the export of some special chemicals used in the production of chips. The argument they use makes no sense:
Habeck, who is also the vice chancellor, has advised officials in his department to work on a tool box of measures to strengthen Germany’s economic resilience in certain areas and reduce one-sided dependencies on China. The idea of imposing export controls on chip chemicals is part of these deliberations, the people said.
How is stopping German exports to China supposed to reduce alleged one-sided German dependencies on China? It doesn't.
Computer chips are not a 'narrow slice of technology'. They are used in many daily products. A modern car has some 1,400 of them. China has been importing chips for $300 billion per year. Confronted with U.S. attempts to block it from access to chips it has ramped up its own production and its imports of chips are now in steep decline:
China’s chip imports slumped 27 per cent in the first two months of 2023 by volume, according to China’s customs data published on Tuesday.China imported 67.6 billion integrated circuits (IC) in January and February, down 26.5 per cent from the same period last year, according to data released by the General Administration of Customs. The drop was steeper than the 15.3 per cent decline recorded for all of 2022, which was the country’s first annual fall in IC imports in two decades.
Sullivan's whole speech is an argument against free markets and for protectionism and sector subsidies. It does away with the economic framework the U.S. had build after the end of the second world war. This is supposed to be replaced it with bilateral and block wise agreements that are to the advantage of the U.S., to the disadvantage of its agreement 'partners' and which exclude China and other 'hostile' economies.
The so called 'decoupling' or 'de-risking' from China is actually an attempt to isolate it. It creates a dynamic that will lead to import replacements in China.
This will lower exports to China from the U.S. and its allies. The whole scheme will thereby eventually work to China's advantage.
Posted by b on April 28, 2023 at 16:44 UTC | Permalink
next page »Whither Globalization now?
Let's take a look at 'human capital' .......
... Hmmm ... who is betting on China and India?
Posted by: Don Firineach | Apr 28 2023 16:54 utc | 2
DC clowns are too worried about short-term profits and reelection to bother see the long-term damage they are causing. That's a problem for some future politician.
Posted by: sindon | Apr 28 2023 16:56 utc | 3
I wish these psychopaths would simply destroy themselves, rather than destroying us all....
Posted by: Robert Hope | Apr 28 2023 16:57 utc | 4
This is how China operates:
1). Buy/acquire original "technology" from x..y..z
2). Build/reverse engineer a replica of original "tech" with parts not developed "in house".
3). Build/manufacture parts for original tech "in house"
4). Build/manufacture original "tech" with "parts" developed "in house".
And that my friends - is how they win
Posted by: Cato | Apr 28 2023 16:59 utc | 5
Again, Dr. Hudson has parsed Yellen's speech echoing b that it's a Declaration of Economic War. I've posted his paper to my VK here. You won't find the paper at Hudson's website as it was a special distribution to his Patreon members.
Also, Escobar has a new piece about dedollarization here.
thanks b…. and thanks karlof1 for the 2 articles on tucker carlson on the last thread.. very informative…
my friend in describing apple to me, described it as a walled garden… not is not too unlike borrells comment on western europe being a type of garden, to keep others out.. so much for globalization, when the unipolar dream meets a multipolar reality.. we are getting their, in spite of the west kicking, bullying and etc etc, trying to prolong the inevitable…
i guess they can’t call them freedom chips anymore.. unipolar chips is more like it..
Posted by: james | Apr 28 2023 17:08 utc | 8
>> How is stopping German exports to China supposed to reduce alleged one-sided German dependencies on China? It doesn't.
Especially since the German producers have been outsourcing first the production and later even their R&D to China to save a few Euros in labor costs. Exporting all knowledge needed for China to set up their own companies that will in no time produce the wares cheaper and better.
Posted by: Marvin | Apr 28 2023 17:12 utc | 9
Posted by: Cato | Apr 28 2023 16:59 utc | 5
You should review the twenty-seven books in the series titled Science and Civilisation in China before making assertions unsupported by the facts in the historical record.
Wikipedia gives a hint of what you might learn:
https://en.wikipedia.org/wiki/Science_and_Civilisation_in_China
Posted by: Sushi | Apr 28 2023 17:14 utc | 10
I've just read Jake Sullivan's speech ...
This should terrify the European Union - but will it? t
# energy and forced de-coupling from resource rich Russia
# Inflation Reduction Act - placing EU firms at disadvantage
# both encouraging industrial transfer from EU to USA ....
# present EU industrial policy on State intervention in economy must change but presently not allowed
The US education system [with exceptions at certain high levels stocked by imported human capital] is dire - really dire
As Sullivan puts it:
"We need support from Congress to revive America’s unique capacity to attract and retain the brightest talent from around the world.
Basically the US has to import developed brain power - e.g. 100,000 Indian graduates etc ...
But as I noted at #1 above - the US is far from No. 1 in stock and quality of Human Capital
@karlof1 I'll get to Hudson later on ... the man is superb - not sure what his late god-father would make of him ...
Posted by: Don Firineach | Apr 28 2023 17:22 utc | 12
The US response to sanctions and the aggression demonstrated against China would lead to the response Japan made in 1941.
Posted by: Wilikins | Apr 28 2023 17:24 utc | 13
@Cato | Apr 28 2023 16:59 utc | 5
You seem to be unaware that when China builds something which existed elsewhere, it improves the fuck out of the prototypes (think high speed rail as an example). More and more, China is bypassing prototypes and leading the way with new technology. Not too hard when they have been producing more patents per year than the USA since 2012, and China's production of STEM undergraduates is growing at an astonishing rate* with a much higher proportion continuing with advanced studies. Within a decade many of them will have masters and PhDs. In the US many students can't even repay their undergrad loans.
*Refer e.g. https://www.aip.org/sites/default/files/styles/wide/public/aipcorp/images/fyi/Bachelors_SEI.jpg
Posted by: Hermit | Apr 28 2023 17:30 utc | 14
Posted by: Cato | Apr 28 2023 16:59 utc | 5
That's no longer the case but how it operated in the past just like any big nation has throughout history including the U.S.. China is already ahead in many area's and doesn't rely on foreign know how. What will happen is that it will just build the chips itself, more efficient, cheaper (not because of low wages but higher automation) and the current producers like ASML will eventually be squeezed out of the market. And that at the behest of the imperial U.S. overlord.
Posted by: xor | Apr 28 2023 17:37 utc | 15
Taiwan enters recession on weak worldwide demand for its electronics
Taiwan’s highest authority in charge of the budget – the Directorate-General of Budget, Accounting and Statistics – estimated on Friday that the world’s 21st-largest economy shrank by 3.02 per cent from January through March, year on year, and by 6.37 per cent compared with the final three months of last year.
“Broad-based weakness in external demand for Taiwan’s exports of electronic products and information and communication technology equipment will persist at least in the coming quarter,” said George Xu, director of sovereigns for the Fitch Ratings credit agency.
...
China, the world’s second-largest economy, grew by 4.5 per cent in the first quarter, beating expectations along its path to a post-Covid recovery.
Looks like the US is trying out a new tactic and that is “Inflation Warfare”.
Posted by: West of England Andy | Apr 28 2023 17:48 utc | 17
Video of above link:
The Biden administration’s international economic agenda: National Security Advisor Jake Sullivan [1 hr 15 mins - Thurs April 27]
https://www.youtube.com/watch?v=A2sa-p2whkk
Posted by: Don Firineach | Apr 28 2023 17:55 utc | 18
The US has long lost it's industrial preeminence, is losing its dollar preeminence, and, in an attempt doomed to similar failure but this time because AI driven development is on track to outpacing human capabilities and achievements, is now wasting what is left of it's hegemonic influence, trying desperately to establish a technological preeminence by dragging other countries back to it's failed level.
When this fails, it will be over. Whether for the USA or humanity depends on how fast this happens, and if we manage to avoid nuclear war as well as the many impending existential risks we have brought upon ourselves because of our massively unsustainable population (at least 17 times pristine preindustrial carrying capacity)..
Posted by: Hermit | Apr 28 2023 17:56 utc | 19
The claim that human ingenuity can be copyrighted and that one country can claim complete ownership of human advancement is truly a bizarre concept, and one that has annoyed me for a long time.
I wrote about it four years ago, here....
https://wagelaborer.blogspot.com/2019/01/intellectual-property-and-war-on-china.html
Posted by: wagelaborer | Apr 28 2023 17:59 utc | 20
Video re above links
Treasury Secretary Yellen delivers remarks on the U.S.-China economic relationship — 4/20/23 at John's Hopkins [43 mins]
https://www.youtube.com/watch?v=wte_XZ6bZWs
Posted by: Don Firineach | Apr 28 2023 18:10 utc | 22
Someone who has no deep knowledge about German politics give u a prediction for the next election
Party of Olaf and the free market party(forgot the name) will get crushed.
I suspect greens will do ok may lose some seats or hold onto their seats because the voter base of greens r militant but while once they were against militarism they have somehow been propagandi zed into cheer for it so they will be happy although some might switch to the Sara gal. Free market party votes will go to and I suspect and vote for Olaf's party will go to markels party.
But whatever happens I suspect no one will ever again take on greens as qualities partners for some time
Posted by: A.z | Apr 28 2023 18:13 utc | 23
US will build high fence and small yard. Translation: The US is broke and forced to downsize.
Posted by: Willow | Apr 28 2023 18:26 utc | 25
Necessity is a motherf...
Import substitution is difficult. How do you get domestic businesses to buy a locally produced widget to integrate into their product for 50% more than the imported widget built with a more mature manufacturing process and supply chains? How do the domestic widget makers get the capital and production volumes needed to improve their manufacturing processes and efficiencies of scale? It is an economic deadlock.
Until the "geniuses" (and I use that term most loosely) in the USA say "Nobody sell them widgets anymore!"
Now the domestic manufacturers using widgets in the embargoed country have no choice but to take a profit hit and buy the domestically produced widgets.
"Oh, how terrible!" the concern trolls wail.
But is it so terrible? Now the domestic widget manufacturers are flush with cash and can invest in their processes. The domestic widget industry, formerly struggling just to stay alive, now blossoms.
In essence, the US Empire is imposing on its "enemies" the very economic discipline they need to bootstrap whole industries and turbocharge their economies. A country can always erect protectionist trade barriers, but having a nasty, snarling self-appointed enemy impose the same restrictions works a whole lot better. Instead of one's own government imposing the onerous but needed discipline, it is an aggressive adversary who clearly wishes you harm that is forcing the supply chain changes. That's good for motivation.
Of course, it is not at all the intentions of the drivers of the clown car of state of the Empire of Delusions, but they are doing Russia and China huge favors with their "sanctions".
By the way, it is ridiculously unlikely that the Chinese are just going to match foreign competitors' chip fab tech. The much more likely scenario is they will go far past parity with their competitors; leapfrogging a technology generation ahead of the rest due to overinvestment from trying to build out domestic capabilities too quickly. This is what the CEO of ASML is concerned about, and he is right to be. We're not so many years away from you'll be able to pick up Chinese made EUV lithography systems off the shelf at your local big box electronics store.
Posted by: William Gruff | Apr 28 2023 18:28 utc | 26
[23]
Your ignorance of German politics is manifest. Merkel has no party she is gone. She destroyed the Catholic CDU and it is now a nothing party run by Mr BlackRock.
FDP is in meltdown
There is no other constellation but CDU and SPD in coalition which makes „democracy“ a farce as UniParty
AfD has a significant lock on votes especially in former GDR. SPD has been destroyed by Greens
Scholz is like Von Papen as he hosts Habeck who wants to replace him with Washington support. Greens are US funded and are run like a mafia infiltrating their operatives throughout the government machine to form a Deep State
Germany has more parties in the Bundestag than any time since the Weimar Republic. It is fragmenting and there is no majority party any more. No party can get more than 20% electorate. So the losers get into government at each election cycle pushing programs rejected by voters
Posted by: Paul Greenwood | Apr 28 2023 18:39 utc | 27
"The EU has developed a mechanism for imposing sanctions against any representatives of the Moldovan opposition, who, according to Brussels, "undermine the sovereignty of Moldova"
Those on the sanctions list will be banned from entering the EU and will have their assets frozen."
Gonzalo Lira:
"The West is throwing sanctions around like confetti — without realizing that every sanction they inflict, every extra judicial punitive measure the carry out, they make enemies in every other country watching.
Who would be fool enough to have assets in the West?"
https://twitter.com/GonzaloLira1968/status/1652017857729818626
Posted by: unimperator | Apr 28 2023 18:44 utc | 28
@William-G: I know right? You have to wonder if the clown car sub-contractors are simply hell-bent on bringing down the whole charade... If they didn't learn when the Russians side stepped their sanctions and kept right on doing business with the RoW I guess they aren't going to learn much at all. Perhaps that tells us something: The handlers of the USA will not be cooperative or benign in any way toward the RoW EVER. Well gee, that sure clears things up so prepare accordingly. Indeed that's what seems to be happening: Everyone is backing away slowly (or more rapidly) building a new system and last nut not least, arming to the teeth with Russian and Chinese weapons. The Great Turning Away.
Posted by: Chevrus | Apr 28 2023 18:46 utc | 29
@unimperator #27
Spose this guy will be hit with sanctions ....
Moldova
NATO anger grips Ukraine's neighbour; Moldovan MP throws 'blood' on U.S.-led NATO bloc's flag | Watch [2.5 mins]
https://www.youtube.com/watch?v=lIAgWXvGt1M
Thankfully - that Ukrainian invasion into Moldova/Transdinestra did not occur
Posted by: Don Firineach | Apr 28 2023 18:49 utc | 30
The big deal with computer (or electronic) chips is how small they can make the circuit that is imbedded into the surface of the silicon wafer. In almost everything, smaller is better. The state of the art is now good enough that being one or two 'generations' behind the latest thing in smallness isn't that big a deal. Even without the latest production process, China and probably other countries will be able to turn out a satisfactory product, more than good enough for all the common uses, and that includes the military uses. Thus an embargo in this or that chip related stuff is not going to be anything like a game changer.
Posted by: Jmaas | Apr 28 2023 18:50 utc | 31
It can be argued that economic separation is required before any military action can take place. (I know that Russian goods are still going to the West, and oil/gas to Ukraine.) There is certainly a US faction intent to replace Ukraine by Taiwan. They are doing their homework now. Let's hope that dedollarisation is faster.
***
Anyone else inclined to believe that Russia will bring up moving international institutions from USA to the South?
Posted by: Konami | Apr 28 2023 18:54 utc | 32
Thanks for the posting b
Stupid is as stupid does and empire has gone VERY stupid
Anyone that thinks that computer development for profit will outpace computer development for collective human need is God Of Mammon delusional
Posted by: psychohistorian | Apr 28 2023 18:56 utc | 33
"Rumours that the US is going to order its vassals in the EU to use the dollar instead of the euro for transactions related to energy within the bloc itself, EU members are going to buy energy from each other using the $ basically, if it becomes reality it means that the € is sacrificed as a currency in order to rescue the $ which will stay afloat for a little longer; some of the recent losses caused by the de-dollarization agenda implemented by countries like Russia, China, India, Indonesia, Brazil,... could be reversed as consequence."
https://twitter.com/onlydjole/status/1651732667346419713
US is trying to compensate losing trade transaction share in the non-west, but in the process it will screw up its largest allies into economic oblivion and poverty.
Posted by: unimperator | Apr 28 2023 18:57 utc | 34
Moldovan Eurovision entry --- have they gone neo-Pagan as well? Concerning
Pasha Parfeni - Soarele şi Luna | Moldova 🇲🇩 | Official Music Video | Eurovision 2023
[3 mins]
https://www.youtube.com/watch?v=se9LDgFW6ak
Posted by: Don Firineach | Apr 28 2023 18:57 utc | 35
ASML has been in a JV with Carl Zeiss SMT for decades. It is nevertheless in competition with Lam Research of US and Canon and Nikon.
It is so unlikely that China or Russia will be denied technology for too long Just as in the days of COCOM which regulated tech exports to USSR the porous nature of such sanctions became evident
It is hard to know what exactly the US is trying to do. The fascination with tech blinds them to their societal vulnerabilities to basics such as antibiotics and broad based manufacturing. US always thinks latest native tech wins rather than having capabilities across the board
Such chips are not for cars or boats but for signal processing or optoelectronics or super-computing or network systems in submarines
US has won every war economic and military because it has the most costly ships and planes - in their own imagination. No one with a cheap AK47 is permitted to kill a US soldier carrying an M4 or sink a US carrier because US spent more money it is too dog and invincible
Posted by: Paul Greenwood | Apr 28 2023 19:00 utc | 36
It’s extraordinary that Washington (and its junior partners in the EU ) hasn’t yet realized that sanctions are only further isolating Washington from 87% of the world.
It’s group think on a epic scale.
Posted by: Exile | Apr 28 2023 19:01 utc | 37
China Taps in Graphene Technology To Replace...
HAHA! It's too f#(
Posted by: Dr Wellington Yueh | Apr 28 2023 19:16 utc | 38
...ing late to stop them. Graphene chips is a serious escape vector.
(note to self...don't use ad-hoc wingdings, it breaks the page)
Posted by: Dr Wellington Yueh | Apr 28 2023 19:18 utc | 39
After thinking it over, I decided the small yard and high fence metaphor - or whatever it is (a simile?) - it is supposed to suggest that we want only the minimum we need fenced off, and we will defend that with vigor, or some such thing.
A bit too clever.
Posted by: Bemildred | Apr 28 2023 19:21 utc | 40
Posted by: unimperator | Apr 28 2023 18:57 utc | 34
>>some of the recent losses caused by the de-dollarization agenda implemented by countries like Russia, China, India, Indonesia, Brazil,... could be reversed as consequence.
I wonder what the losses would be? Financial transactions are commonly a zero sum game. A loss by one party is a gain by the other. Who would be the gainer? And we are going to make it up? What, reach into our pocket and shell out some money? It all sounds like make believe to me.
Posted by: Jmaas | Apr 28 2023 19:21 utc | 41
"Things are getting weird, and getting weird fast", Elon Musk.
Posted by: Immaculate deception | Apr 28 2023 19:22 utc | 42
It’s extraordinary that Washington (and its junior partners in the EU ) hasn’t yet realized that sanctions are only further isolating Washington from 87% of the world.
It’s group think on a epic scale.
Posted by: Exile | Apr 28 2023 19:01 utc | 37
Yeah, my brain locks up every time I think about that. Have to reboot.
Posted by: Bemildred | Apr 28 2023 19:23 utc | 43
These people are utter sociopaths, purely and openly evil! Their one saving grace (not deliberate on their parts) is that they are so goddamn stupid as well! Clearly based on arrogance which is rooted in their massive insecurities. . . What they are trying to do here is like announcing that they are going to drain the ocean by standing at the shore with teaspoons, bailing it out!! Absurd. Not being a fan of organized religion, the priestly caste are generally selfish power mongers like the vampiric political class, at least the "Jeebus" people (or the Moonies or others) pretend to some unselfish worship of "goodness." The 'Murican political class are the open equivalent of thuggish mob guys in the dumbest Hollywood movies, just openly telling everyone in the world that they must submit and obey. Except for some really dumb 'Muricans in the PMC (Dems) or the Trump kill-a-trannie cult, I think the whole world and now some 'Muricans see these vampire squids for what they are. It won't end well!! If there were any justice in this world, the whole lot of them would be dealt with as Mussolini or Marie Antoinette were. I hope to live long enough to see that.
Posted by: SkepticalThinker | Apr 28 2023 19:24 utc | 44
Cato | Apr 28 2023 16:59 utc | 5
China had to only follow the Bill Gate's Microsoft playbook.
Posted by: Eric Blair | Apr 28 2023 19:30 utc | 45
trump tried this with directed tariffs.
the Biden crowd went insane about inefficiencies and price increases.
the physics, economics and trade elements have not changed.
in usa there is one party, and trump scared them.
maybe biden will rehabilitate the mile long packard plant in detroit
Posted by: paddy | Apr 28 2023 19:36 utc | 46
I don’t think Sullivan passed his statement by the US Federal Reserve beforehand. The potential implications for inflation, interest rates and the US dollar are profound.
Is there a split between the rabid neocon ideologues and the money-changing fraternity? Much as many people despise the latter, for all their faults they tend to have a pragmatic approach to what is profitable and will push back against an approach that jeopardises the asset side of their balance sheets.
Posted by: West of England Andy | Apr 28 2023 19:45 utc | 47
Posted by: unimperator | Apr 28 2023 18:57 utc | 34:
"Rumours that the US is going to order its vassals in the EU to use the dollar instead of the euro for transactions related to energy within the bloc itself, EU members are going to buy energy from each other using the $ basically, if it becomes reality it means that the € is sacrificed as a currency in order to rescue the $ which will stay afloat for a little longer; some of the recent losses caused by the de-dollarization agenda implemented by countries like Russia, China, India, Indonesia, Brazil,... could be reversed as consequence."
Interesting! If this indeed comes to past it'd surprise the hell out of me. I view EU being Empire's vassals, but never thought the dedication would be so great!
If his comes to past, while RoW de-dollarization keeps its present pace, then for the next deep financial crisis, EU/G7 would bear the whole burden of the "Dollar" disease instead of the RoW. Mine, mine! EU/G7 is sure gaining importance.
Posted by: Oriental Voice | Apr 28 2023 19:56 utc | 48
Russia went though a full decade of pain and suffering after the collapse of the Soviet Union. Eventually, leaders emerged who recognized that the "free market" game the US was playing was a one-sided strip-mining operation. They started to close that operation down and to rebuild domestic core competencies. After 2014, this process accelerated and it has now moved into full overdrive with the advent of Western sanctions after the start of the SMO.
China has something the Russians didn't have. They have the benefit of having a front-row seat to the Russian experience. They are not going to allow themselves to fall into the strip-mining trap or to wait for a full-fledged economic sanction war to erupt. They are going to work to develop self-sufficiency in every critical market they can, and to develop reliable partner suppliers for those things they cannot supply for themselves. This process has clearly started.
In WWII, the US was able to bring to bear truly awesome manufacturing capability in the face of a perceived global threat. Today, it is the Chinese that have that manufacturing capability and, hence, the ability to bring it to bear as they feel necessary. Combine that with a huge, well-educated population and an increasing number of strategic partnerships and I think the ability of the US to keep China down is basically non-existent. Indeed, the US will be lucky to be able to temporarily slow China down. Economically, technically, and eventually militarily, the Chinese are moving this situation steadily and, incentivized by US actions, increasingly quickly from a road block to a speed bump to a minor bump in the road.
Posted by: Brian M | Apr 28 2023 20:01 utc | 49
Sushi | Apr 28 2023 17:14 utc | 10
Very well said. Those inclined to feel ashamed of the scoundrels running Britain can console themselves that there wa a time when it produced the like of EP Thompson and Joseph Needham...
Posted by: bevin | Apr 28 2023 20:03 utc | 50
Don firnineach @12 Why would foreign top line students want to stay in the U.S. with it's racism, mass shootings, and deteriorating social and physical infrstructure? Their education is paid for by their home governments, and they are expected, I believe, to return to their home countries to contribute to it's advancement. I once toured the Penn State Applied Physics Lab study hall area, and almost all of the students there were of asian decent.
Posted by: a machinist | Apr 28 2023 20:16 utc | 51
So American interests are very close to developing a rival to the Dutch product and the American government are preventing the Dutch from exploiting their advantage. Well, what a surprise.
Posted by: Pancho Plail | Apr 28 2023 20:16 utc | 52
I worked for a tech startup and we had a CEO who didn't put any faith in patents. He said that the only protection you have is doing it faster, better and cheaper than the other guy. I have come to believe he was absolutely right - it applies to trade protectionism as well.
Posted by: ian | Apr 28 2023 20:22 utc | 53
Don Firineach no. 35
I think it was a load of rubbish. WTF?
Posted by: ThusspakeZarathustra | Apr 28 2023 20:22 utc | 54
There are two different arguments in this post by B.
The first one, about free trade is wrong, as in there is no such thing as free trade and the concept of it is just wrong. Tree of Woe ( tip of the 🎩 from Vox Day) post spells it out: https://treeofwoe.substack.com/p/against-free-trade
The other argument is correct, in that all we are doing is antagonizing the RoW, China, and Russia by implementing blatant steps not to level competition but deny access - this will work out as well as the Russian sanctions have worked.
The neoconservatives & neoliberals out to really have someone else do there thinking for them once in awhile.
Posted by: drsmith | Apr 28 2023 20:22 utc | 55
The bozos in DC are simply lost in the ozone. And to make matters worse, they're not very bright. I could go through a bunch of stuff but I'll be short. Donny Murdo said that trade wars were easy to win and then proceeded to lose the one he started. We've started another trade war, this time over microcircuits. We arrogantly think that the Chinese won't be able to develop microcircuit technology to match what "The West" has. Guess again people. You fools who think that the Chinese have just been copycats haven't been paying attention. Soon they will be producing anything that we can and they'll be doing it for less. Remember what Will Rogers said: If you teach a person or an animal a lesson in meanness, don't be surprised if they learn it. The Chinese didn't try to make themselves our enemy but we declared that we were their enemy. China will not forget that.
Posted by: Jeff Harrison | Apr 28 2023 20:25 utc | 56
"..It is hard to know what exactly the US is trying to do..." Paul Greenwood@ 36
Not really. Yellen is just trying to win the 2024 election. That is all that this "new American System" is about.
We can see that economically the Yellen plan is a disaster, that will have to be rejected by, inter alia, the Europeans. And will accelerate the de-dollarisation process.
We can see that in terms of geopolitical strategy what the US is doing might have been specifically designed to strengthen BRICS. And ensure that Taiwan works for re-unification to escape the Barbarians' grip.
We can see that US Foreign Policy for the past twenty years has simply weakened its position in the world and driven those it deems ts enemies together in an alliance of complementary strengths.
But it all makes good sense when we recognise that all policy in Washington DC is designed to win elections. And that means placating the blindly greedy oligarchy that pays for them and throwing juicy bones, like russophobia or the Yellow Peril, to the hoi poloi so that they don't notice that their pockets are being picked, during the Two Minute Hate.
Posted by: bevin | Apr 28 2023 20:30 utc | 57
"China imported 67.6 billion integrated circuits (IC) in January and February"
Compare this to the needs of the military aircraft industry; producing a few hundred airplanes per year using a few dozen processors per plane. The needs of the military are quite modest, compared to civilian use.
Posted by: Passerby | Apr 28 2023 20:33 utc | 58
My mind keeps returning to the quote from Sullivan
[W]e are protecting our foundational technologies with a small yard and high fence.
The RoW could see this as a plus because it keeps the exceptional feeling folk in a highly isolated environment.
When do the AMI, GO HOME! signs come out in mass?
That foundational technology is the global private finance cult we never get to know the members of except Pope Frank and newly crowned King Chuck.
Posted by: psychohistorian | Apr 28 2023 20:39 utc | 59
re: China’s chip imports slumped 27 per cent in the first two months of 2023
from Digitimes, Apr 26:
Taiwan exports to China drop by 30%
Taiwan's exports to China (including Hong Kong) were only US$34.3 billion from January to March 2023, a 30.6% decrease from the same period the previous year, according to Taiwan's Ministry of Economic Affairs . . .here
from Taipei Times, Apr 29:
GDP declines 3.02% amid chip slump
SHARPEST DROP SINCE 2009: The decline was more than twice as steep as expected by economists and prompted the DGBAS to slash its full-year growth forecast to 1.67%
The Taiwanese economy shrank at the sharpest pace since 2009, recording its second quarter of contraction in a row as a plunge in global demand for chips showed little sign of abating.
GDP in the first quarter of this year dropped 3.02 percent from the same period last year, the sharpest fall since June 2009, the Directorate-General of Budget, Accounting and Statistics (DBGAS) said. . .here
Posted by: Don Bacon | Apr 28 2023 20:44 utc | 60
re: a small yard and high fence.
headlines. . .
House rejects Gaetz resolution to remove US troops from Somalia
. . .because Somalia is a threat to US national security....s/
Posted by: Don Bacon | Apr 28 2023 20:48 utc | 61
Posted by: Don Bacon | Apr 28 2023 20:44 utc | 60
Winning without a bullet being fired.
Posted by: Passerby | Apr 28 2023 20:51 utc | 62
When in my past life I used to frequently work with senior management at airbus, they all told the same story about China.
At the airport, the car to pick them up was a BMW or a merc. But, once inside the car they realised it wasn't a German car but a Chinese copy of one.
When they sold China their first A320, they noticed from Toulouse that the plane had not taken off or flew nearly a year after selling it. Perplexed, they sent over a team of engineers on the pretext of structural concerns to see the plane. In the hangar in China they found that the plane was totally disassembled and were shocked to learn that this was the third time it had been taken apart.
Most bottles of Volvic sold throughout the world are Chinese, not French.
My point, China is a mad brilliant country that does absolutely mad things, the US, like airbus, who by the way ended up building a factory in China, will never stop China industrially.
Posted by: Eoin Clancy | Apr 28 2023 20:51 utc | 63
"[W]e are protecting our foundational technologies with a small yard and high fence."
I take that as an attempt to project "We aren't going to restrict access to any more than just the tech that is essential to national defense, and civilian tech that we developed and which is covered by patents and agreements. Technology of that sort will be defended tooth and nail from illegal encroachment".
In farming terms, "You can walk the road through our property and pick all the stuff growing wild, but not the stuff we cultivated for sale. Don't hop our fences to pick that".
I'm not saying American policy isn't based on several fictions, I'm just offering my translation of what he was saying. :)
Posted by: Babel-17 | Apr 28 2023 20:58 utc | 64
Posted by: Don Bacon | Apr 28 2023 20:48 utc | 61
ah yes, the old we have to fight them over there so we don't have to fight them over here! they never change the playbook.
Posted by: pretzelattack | Apr 28 2023 21:12 utc | 65
... The most significant limitations of graphene in semiconductor chips are in the cost of manufacturing and development. Graphene-based chips are complicated to produce and are highly expensive to create ...
Posted by: Dr Wellington Yueh | Apr 28 2023 19:18 utc | 39
... nice ... if any one can pull this off and reduce manufacturing and unit costs, I suspect the Chinese can (especially without shareholders, CEOs and assorted profit margins to please) ... and if they do, the game will be well and truly changed. That allied with the current climate simply increases he urgency.
Posted by: SattaMassaGana | Apr 28 2023 21:20 utc | 66
Posted by: SkepticalThinker | Apr 28 2023 19:24 utc
The best, yet polite description of the fuggwits you are talking about SkepticalThinker was penned by a blogger HMS Terror:
“They’re trying to split the China-Russia axis that threatens American supremacy. The circle-jerking echo-chamber in which they live and operate resounds of America’s decades long pre-eminence. They’ve spent their adulthood and careers marinated in it, and they’ll die embalmed in it. They’re no more aware of it than a fish knows it’s wet, and they can imagine a world where America is less than pre-eminent no more than a fish can imagine a dry life".
Priceless.
Posted by: Baron | Apr 28 2023 21:27 utc | 67
The second most popular article at Global Times today is "Germany’s possible restriction on semiconductor chemicals exports to Beijing would undermine the positive direction of China-EU ties: experts". Such chemicals are known as petrochemicals since their feedstock is petrol. Guess where Germany once got most of its petrol? That nation is in the process of building a massive petrochemical processing industry that it has lacked since it found it easier to import finished products made from its exports. Those days are long gone. China will likely embark on building a similar processing plant 9if it hasn't aleady0 so it will have a vertical supply chain for such chemicals. The article's opening paragraphs tell us all we need to know about the origin of this newest brainchild:
Germany is reportedly considering restricting exports of chemicals to China that are used to produce semiconductors, a move which experts said would disrupt the positive direction of China-Europe relations and represent a "severe blow" to the country's industrial base, further hurting an economy that is already suffering from economic blows linked to the Ukraine crisis.According to a report by Bloomberg, Germany may place implement restrictions as part of the government's efforts to reduce its economic exposure to China. The report cited sources as saying that the move was still "in the early stages of discussion."
Clearly, this is Sgt. Schultz following orders.
" Russia and China have long since realized that the West needs them more than they need the West, economically speaking. How long before the clown-show in D.C. also figures this one out?
Posted by: Monos | Apr 28 2023 16:49 utc | 1 "
If true, the better question would be why does China continue to supply the West ? Why does Russia ?
Posted by: Deplorable Commissar | Apr 28 2023 21:35 utc | 69
" Whither Globalization now?
Let's take a look at 'human capital' .......
... Hmmm ... who is betting on China and India?
Posted by: Don Firineach | Apr 28 2023 16:54 utc | 2 "
No one on India. Without access to the US market India is toast.
Posted by: Deplorable Commissar | Apr 28 2023 21:36 utc | 70
Don Firineach @ 35:
Trashy disco song with equally trashy video featuring faux New Age shamanist trappings on sexy young female models.
The tragedy is that commenters at the YouTube link think it's the bee's knees. Doesn't say much for the other contestants.
Folklore of European, Latin-American and other countries often feature pre-Christian elements. Even Christian celebrations such as Easter and Christmas are full of pagan associations. You will be hard-pressed to find a country or culture in the West that does not draw on its pre-Christian past. Even cultures in the Muslim heartland (North Africa, western Asia) incorporate pagan pre-Muslim beliefs and practices. What is your concern here?
Posted by: Refinnejenna | Apr 28 2023 21:42 utc | 71
SattaMassaGana | Apr 28 2023 21:20 utc | 66--
Privately owned companies are the majority in China nowadays, and as such have shareholders and CEOs. The difference is China has genuine regulatory agencies and extremely stringent anti-corruption laws. Here's a quote from the article I just linked to @68--
"China urges these countries to respect the laws of the market economy…and work together with China to maintain the international economic and trade order to promote the construction of an open global economy." [My Emphasis]
Yes, China like Russia has State Owned Enterprises (SOEs), but they are usually linked to supporting the overall economy; in other words, they function as public utilities and reduce business's overhead costs. There are no 100% socialist national economies on the planet. Mixed economies where the public/state sector supports the private sector while the private sector also provides support for the public sector are proving to be the most efficient. Plus, those economies are guided by the national government's development and social policies that are jointly developed by the public and private sectors.
" The claim that human ingenuity can be copyrighted and that one country can claim complete ownership of human advancement is truly a bizarre concept, and one that has annoyed me for a long time.
Posted by: wagelaborer | Apr 28 2023 17:59 utc | 20 "
You would be singing a different tune if you invented something and other people, corporations, or nations just stole your idea without any compensation.
Posted by: Deplorable Commissar | Apr 28 2023 21:44 utc | 73
" Don firnineach @12 Why would foreign top line students want to stay in the U.S. with it's racism, mass shootings, and deteriorating social and physical infrstructure? Their education is paid for by their home governments, and they are expected, I believe, to return to their home countries to contribute to it's advancement.
Posted by: a machinist | Apr 28 2023 20:16 utc | 51 "
If you mean Racism against the White population then you would be correct. Additionally, why are other nations sending their students to the US ? Are they incapable of educating their own populace ? I thought the US is full of morons, how can they educate anyone ?
Posted by: Deplorable Commissar | Apr 28 2023 21:48 utc | 74
If true, the better question would be why does China continue to supply the West ? Why does Russia ?
Posted by: Deplorable Commissar | Apr 28 2023 21:35 utc | 69
Well, for one thing, it gives them a great deal of leverage when the West wants to "negotiate". It creates a dependency, see? That is why offshoring was stupid, if one wants to dominate the planet.
Posted by: Bemildred | Apr 28 2023 21:59 utc | 75
" Well, for one thing, it gives them a great deal of leverage when the West wants to "negotiate". It creates a dependency, see? That is why offshoring was stupid, if one wants to dominate the planet.
Posted by: Bemildred | Apr 28 2023 21:59 utc | 75 "
However, to defeat the West without war all they have to do is turn the " spigot " off. Its obvious the ZiowEST will continue to push for conflict otherwise. This placation game played by Russia and China is silly, its almost like they fear being cut off from the West.
Posted by: Deplorable Commissar | Apr 28 2023 22:04 utc | 76
@ThusspakeZarathustra | Apr 28 2023 20:22 utc | 54
@Refinnejenna | Apr 28 2023 21:42 utc | 71
I agree it is dire. I was just wondering if the Azov Neo-Pagans had infiltrated Moldova.
My nom de guerre here is actually Celtic Pagan - there you go now! Azov are giving ordinary decent pagans a bad press ... I'd sue but doubt there will be too many of them left to pay up!
@Brian M #49
'In WWII, the US was able to bring to bear truly awesome manufacturing capability in the face of a perceived global threat.
So did the Soviet Union. Considering where its industry was in early 1930 - without Stalin's Industrialization policy and it move beyond the Urals in early WWII then facism could not have been defeated on Eastern Front. Rarely acknowledged in the West these days and Putin is onto another level of industrialization - of necessity.
@ a machinist #51
STEM is poor in the US, and yes, Asians dominate. That said, many Indian grads go to the States and stay for the salaries - be interesting to see some stats on entry-exit levels and nationalities
I'm a fan of two little girls in the Penn Relays this weekend.
Posted by: Don Firineach | Apr 28 2023 22:09 utc | 78
I have just searched through all the news on chip manufacturing in China.
There is now a huge government backed R&D project to create leading edge chip making equipment underway as a matter of national security.
One company has been manufacturing what are termed quasi 7nm chips for over a year on domestically produced equipment.
A research and development company is now ordering large amounts of domestically made components to build equipment for 3nm chips.
Japan is one of the countries that build leading edge chip manufacturing equipment. Many of them are now splitting there companies and moving one section off shore to get around the US/Japan agreement.
Apart from all the other dumb stuff the US has done, it has doomed its own tech. The sort of resources China can put into chip making R&D now that there is a need to do so ensures that before long China will be the leader in chip making equipment and leading edge chips.
Posted by: Peter AU1 | Apr 28 2023 22:15 utc | 79
Posted by: karlof1 | Apr 28 2023 21:43 utc | 72
... many thanks for that correction ... that is actually quite interesting. Presumably there is a mechanism which whilst allowing profit prevents excess profiteering?
Posted by: SattaMassaGana | Apr 28 2023 22:39 utc | 80
Protectionism and subsidies can be a good idea. "Free trade" can be too free for the national interest and even for global economy. But (a) in the short run, they increase inflation (b) can produce boondoggles, one has to pick winners, not simple at all (c) they do not cure crazy incentives that control American business. So they require careful thinking and priorities.
Moreover, priorities selected to restore the hegemonic position that is slipping from USA can be wrong, especially given the intellectual level in the government and companies today. As we discussed here a lot, Boeing preferred stock buybacks over keeping its technological edge with long term R&D. And this because of TYPICAL management style, not unique to Boeing. USA used to have a lead or at last a decent position in chip technologies too. Railroads are obsolete and loosing transportation market share, despite innate cost advantage in fuel and labor.
Posted by: Piotr Berman | Apr 28 2023 22:46 utc | 81
However, to defeat the West without war all they have to do is turn the " spigot " off. Its obvious the ZiowEST will continue to push for conflict otherwise. This placation game played by Russia and China is silly, its almost like they fear being cut off from the West.
Posted by: Deplorable Commissar | Apr 28 2023 22:04 utc | 76
They don't want to defeat "the West", that is the sort of stupid idea the Neocons wallow in, they want to defeat the morons running the west and rescue the rest of us here, the "deplorables", so maybe the rest of the planet can be left alone and get on with their own business instead of fending off our constant "attacks".
Posted by: Bemildred | Apr 28 2023 22:47 utc | 82
Presumably there is a mechanism which whilst allowing profit prevents excess profiteering?
Posted by: SattaMassaGana | Apr 28 2023 22:39 utc | 80
By this I mean profits which do not necessarily fall foul of anti corruption law but may be viewed as overly excessive.
Posted by: SattaMassaGana | Apr 28 2023 22:48 utc | 83
@ Don Firineach | Apr 28 2023 17:22 utc | 12
The US education system [with exceptions at certain high levels stocked by imported human capital] is dire - really dire
After years of stagnation, the U.S. is finally getting brand-new chip plants. Intel, GlobalFoundries, TSMC, and Samsung Foundry are set to spend well over $70 billion on U.S. fabs by 2025. If Texas Instruments's massive fab project (that comes online in 2025 and spans for several more years as new phases are built) and subsequent TSMC Fab 21 phases are added, we are looking at investments that might hit the $200 billion mark (or even exceed it) over the next decade.
This will require qualified people.
The following are tasks for semiconductor engineers;
Design and develop semiconductor systems, software and modules, as well as interfaces and structures.
Review and provide specification documents.
Avail engineering software support.
Identify and resolve any software problems that may arise.
How to become a semiconductor engineer?
In order to begin a career as a semiconductor engineer, one needs to at least procure a Bachelor’s Degree in Material Science and Engineering, or Applied Physics with emphasis in fields like Computer Science and Electrical Engineering. Fields like software engineering, information technology and information systems are also crucial for a semiconductor engineering career.
Number of bachelor's degrees earned in the United States in 2019/20, by field of research
In 2020, there were a total of 387,851 Bachelor's degrees earned in business studies across the United States, making it the most common field of study. In that same year, a further 119,968 Bachelor's degrees were earned in the field of psychology and 161,164 graduates in social sciences and history. Engineering? Fourth place with 128, 332 . .here
In the next five years, a minimum of 50,000 trained semiconductor engineers will be needed in the United States to meet the overwhelming and rapidly growing demand. Purdue University has answered that call, becoming the first in the country to launch a comprehensive set of innovative, interdisciplinary degrees and credentials in semiconductors and microelectronics.
Semiconductors are a very education-intensive business, with 56% of the employees at semiconductor companies holding either a bachelor’s or graduate degree. The industry also requires a wealth of STEM talent who do not have university degrees. To sustain growth, companies need many more engineers and scientists than the number of ‘semiconductor’ students who are expected to graduate from U.S. universities in the coming years. . . .Why study hard when one can study 'political science' and party?
Posted by: Don Bacon | Apr 28 2023 22:50 utc | 84
The fact that someone with almost invisible integrity and low culture like Jake Sullivan is an important element in the governing structure of the United States is a measure of how low we have fallen as a nation. President Putin has said that the US presides over an empire of lies. He should add that it is also the kingdom of mediocrity.
Posted by: Jack Gordon | Apr 28 2023 22:52 utc | 85
Posted by: Jack Gordon | Apr 28 2023 22:52 utc | 85
Empire of used car salesmen.
Government by Grift.
Posted by: Bemildred | Apr 28 2023 22:54 utc | 86
It's the Tonya Harding defense; if you can't compete; kneecap the opponent. The Biden Administration will go down in history as the one that promoted the coupling of major economies in Eurasia and the one will cause those countries to seek to become innovators and self sufficient. The US would be better off putting its own house in order.
Posted by: TMartin | Apr 28 2023 22:55 utc | 87
Sullivan's whole speech is an argument against free markets and for protectionism and sector subsidies. It does away with the economic framework the U.S. had build after the end of the second world war.
Not exactly. This is a futile attempt to return to post-WWII Cold War. The economies of the different blocks during the Cold War era were decoupled. The U.S.A. pushed for a globalist agenda after the fall of the Soviet Union in the '90s.
Contemporary Americans are poor victims of Hollywood. They retold so many times the funny story of American exceptionalism, that they now really believe it. What they fail to understand is that the U.S.A. became a hegemonic power by accident, in spite of American capitalism, not thanks to it. When, after the fall of the Soviet Union, they pushed for a globalist agenda, they thought that none could have resisted their economic and technological superpower, that is why they naively pushed for open borders and free markets. Really it was the other way around: the U.S. were quickly outcompeted by those powers (mainly Russia and China, but also European countries) that only then could freely race on the world market. As an example, Airbus rapidly pushed to the ropes Boeing, that in the early '90s looked like the world monopolist, and so invincible. It took only a few years for Airbus to rise from zero to hero in a finally really free market; the Americans could not predict it.
Many, even here, do not understand the relationship between the U.S.A. and Western Europe. This table gives a hint:
country..... | trade balance with the U.S. ('21)
----------------------------------------
Germany.. | +70 billion $
Ireland..... | +60 billion $
Italy.......... | +39 billion $
France..... | +20 billion $
Austria..... | +11 billion $
----------------------------------------
EU total.... | +219.6 billion $
Posted by: SG | Apr 28 2023 23:01 utc | 88
SattaMassaGana | Apr 28 2023 22:48 utc | 83--
Yes, I understood what you meant the first time and that's to eliminate what are known as excess profits derived from a monopolistic or monopsonistic market position. Jack Ma's company is an excellent example. China wants competition to exist for proper competition fosters innovation which powers development and modernization. It's the classic self-perpetuation model. But, it requires tight regulation, not necessarily red tape, but rules to ensure fairness that are enforced.
@Don Bacon #84
Ta. V. Useful.
STEM is simply vital - but students Do have to Do some Thinking ... which I did (-: once upon a time ... and it doesn't ever stop ...
Following Yellen and Sullivan I suppose all the Economics Profs will also have to be fired - and all those Biz grads taught all that 'free'(sic)-market rubbish will need to be sent to re-education camps in China! I jest of course [Wall Street, Private Equity and the Hedgies still reign supreme.
Posted by: Don Firineach | Apr 28 2023 23:09 utc | 90
I see that Dr, Hudson was interviewed by CGTN for 26 minutes that can be viewed here. Lots of informative things today for a Friday.
@SG | Apr 28 2023 23:01 utc | 88
Most of Ireland is financial engineering intended to shift profits into their corporation and oligarch "friendly" (some people prefer this euphemism to the more accurate term, "fellating"), tax system.
Posted by: Hermit | Apr 28 2023 23:26 utc | 92
Fundamentally, more protectionism isn't going to help the Outlaw US Empire as its overall costs render it uncompetitive, so it must use force to get others to locate industry here where they'll be just as uncompetitive because they'll share those same overhead costs. Those costs are directly related to Neoliberalism and Donor ownership of the national political Duopoly. And since the Outlaw US Empire is very far removed from being an autarky, this new protectionism will merely drive inflation up and cause social ferment to escalate.
karlof1 | Apr 28 2023 17:04 utc | 6
karlof1 | Apr 28 2023 23:46 utc | 93
-----
Thanks for Dr. Hudson's paper. It complements b's article perfectly, underscoring once again the pathological hypocrisy of the US. Hudson's criticism of US policy seems increasingly explicit, harsh, and even scornful. Earlier, he often appeared to pull his punches, always allowing some benefit of doubt for incompetence or shortsightedness versus malice. Now that all reasonable doubts have been exhausted, he's landing hard blows. This seems to parallel the evolution of Russia's diplomacy as well, for the same reasons. Lavrov's UN presentation was blistering.
Nothing highlights US hypocrisy more starkly than this new about-face from globalism. "Efficient Markets Theory" (EMH) only seems to work when we own the globe and can tilt the playing field by our own ever-shifting rules. Multipolarity is now leveling the playing field, and parasitic rentiers can't fairly compete, so they are panicking and trying other belligerent ways to rig the game. So-called free-market capitalism has been exposed as rigged-market cannibalism.
In trying to find an apt metaphor for this shift from de-industrialization by finance capitalism, "barring the barn door after the horses have bolted" seems to fit. But it's really inadequate. "Herding your cattle onto a neighbor's pasture, then building a fence to keep them out" seems more fitting. Germany's solution, "we're not going to sell China our products," follows similar Sgt Schultz logic.
The risks inherent in trying to unravel an interdependent global economy are huge, especially when you are the world's primary dependent. In this case, attacking China's economy is just so incredibly stupid, worse even than the boomerang US sanctions on Russia. Akin to shooting both feet at once, it will cripple the US economy. That's the painful sacrifice Janet is willing to make on our behalf.
Posted by: Doug Hillman | Apr 29 2023 0:02 utc | 94
Posted by: karlof1 | Apr 28 2023 23:08 utc | 89
... once again ...many thanks ...
Posted by: SattaMassaGana | Apr 29 2023 0:04 utc | 95
The USA is in favour of targeted subsidies for its own producers because that is the most likely vehicle which will allow it to money-print its way out of a crisis. It's kind of comical when you consider the IMF - led by the United States - dangled large loans just out of reach of Ukraine's Orange-Revolution president with the admonishment that if he wanted the money, he had to drop the national energy subsidies that gave Ukrainians cheap energy because they represented an uninsured liability. But now subsidies are okay. Because America wants them.
Whatever Sullivan says, whatever Blinken says. It's nonsense.
But it IS the only thing that gets on the MSM. So people - including those here - pay attention to it.
There are plenty of other voices, but they are shut down. And AI monitoring all the modes of communication will make that worse. THAT stranglehold must be broken. Two parts to that: one, just don't pay any attention to the MSM - really, there is no point in debating what the NYTimes says, that's energy wasted, and two, put that energy into figuring out how to build other channels of communication. Presumably NOT digital - at least not on the usual carriers.
That last is a tough nut to crack. Outside of hardcopy and in-person, I don't have any good ideas. "Secure" apps are not going to cut it. It has to function as broadcast.
I've been thinking to build myself a sandwich board and to start walking around town wearing it. Pots and pans - banging - is good too.
What's going on is a coup. Recognize that.
Posted by: oracle | Apr 29 2023 0:30 utc | 97
@oracle, #97:
Your two parts to break the strangle: Yup! and Yup!
Posted by: Oriental Voice | Apr 29 2023 0:44 utc | 98
I note that Deplorable is extremely biased against Indians and other non-Europeans, I wonder why? Sometimes it makes sense but then goes off on another tangent, completely opposite of a previous post.
Posted by: Arcticman | Apr 29 2023 0:44 utc | 99
Doug Hillman | Apr 29 2023 0:02 utc | 94--
Thanks for your reply. Yes, Dr. Hudson tries to keep an even demeanor but there are ways to rhetorically to show your anger. Although he doesn't look it, he's 83 and IMO wants to make sure he doesn't leave anything unsaid. The interview with CGTV I linked above is an example of the difference between his spoken and written abilities. IMO, his prognosis of the bifurcation of the global economy into two different blocs is correct, which I've been writing about since December. Escobar's piece demonstrated how quickly dedollarization's proceeding. Here's something I just stumbled across:
In Li's view, the BRI, the concept of a global community of shared future, together with the Global Development Initiative, the Global Security Initiative, and the Global Civilization Initiative, are contemporary versions of "Datong" ideal, or "a world of great harmony" that the Chinese people have carried forward for thousands of years. [My Emphasis]
IMO, that vision's shared by 97% of humanity perhaps even 99%. But the Biden's and ilk, and their supporters can't stand harmony and want chaos in which they can practice their dark arts.
The comments to this entry are closed.
Russia and China have long since realized that the West needs them more than they need the West, economically speaking. How long before the clown-show in D.C. also figures this one out?
Posted by: Monos | Apr 28 2023 16:49 utc | 1