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Capitalism: Begun the Trade War has
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  • European Union negotiators finalized the terms of a historic investment agreement with China. Seven years in the making, the new Comprehensive Agreement on Investment is expected to grow international trade between the EU and China, facilitate cross-border investment, and "strongly stimulate" the economies of both nations, according to Chinese president Xi Jinping.

    Strong rumors is that in exchange China will dump from 1.5 to 2 trillion USD into Europe debt market. China has no other option but to sign this agreement as refusal to do so will mean end of Chinese mobile industry in EU, as well as end of Chinese ambitions of independent silicon industry.

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  • The Asia Times reported on Beijing's new legislative initiative. According to the source, the new order is planned to be ratified by the newly appointed Minister of Commerce of China Wang Wentao. The essence of the innovation is that Chinese companies will have a legal way to influence foreign companies that have damaged them as a result of restrictions imposed by third countries. The situation is best illustrated by the history of the US sanctions against Huawei. TSMC has stopped supplying the Chinese customer with HiSilicon processors, although it itself is subject to the jurisdiction of Taiwan, not the United States.

    The new by-law will allow Chinese companies to recover damages from foreign partners, as well as force them to resume cooperation.

    TSMC is vulnerable to Chinese laws. First, the company receives approximately 22% of its total revenue from Chinese customers. Secondly, it has enterprises on the territory of the PRC and has planned to expand them so far.

  • The Pentagon has blacklisted Xiaomi and added to special list of Chinese firms. This is reported by Reuters with reference to the updated list of US authorities.

    According to the publication, a total of nine Chinese legal entities, which, according to Washington, are associated with the military industry of the PRC, fell under the new restrictions. These include one of the world's largest smartphone manufacturers, Xiaomi.

    It is noted that these companies will be subject to the decree of US President Donald Trump banning American investments in military-related Chinese firms.

    Finally... Next steps to follow.

  • US President Joe Biden has pledged not to get involved in trade wars with China, as his predecessor Donald Trump did, and instead to compete with the world's second largest economy under international rules, writes CNBC.

    According to Biden, there should be competition between the two countries that does not escalate into conflict. The new president also noted that he knows Chinese President Xi Jinping well, although he has not yet met with him as head of state. “He's very smart and cool. I am not saying this as a criticism, but in his body it is as if there is no bone in charge of democracy, " - Biden said.

    I have extreme deja vu, as it is all the same before first round of trade war started.

  • As noted by the Nikkei Asian Review, Joseph Biden expressed his dissatisfaction with China's position in several regions, including Tibet, populated mainly by Uighurs in Xinjiang, as well as Hong Kong and Taiwan. In the first two, according to the US authorities, the Chinese administration oppresses local residents, and in the last two it does not recognize the right of citizens to self-determination, considering these territories their own.

    According to Reuters, the new US authorities are not going to cancel the trade tariffs that the previous administration introduced; their revision will be possible only after detailed consultations with America's allies in the foreign trade sphere. With regard to the export of technology to China, the position of the new US authorities is categorical - we must not allow military technologies to fall into the hands of Chinese military, which will make them stronger. Export control restrictions should be targeted, as well as negotiated with US foreign policy allies.

    His successor has only one comment about the actions of the former US president: he imposed sanctions against China at his sole discretion, without taking into account the interests of other countries.

    Materialism rules!

  • The Federal Communications Commission (FCC) on Friday named five Chinese companies that pose a threat to national security under a 2019 law aimed at protecting US communications networks. These include Huawei Technologies Co, ZTE Corp, Hytera Communications Corp, Hangzhou Hikvision Digital Technology Co, and Zhejiang Dahua Technology Co.

    This list provides meaningful guidance to ensure that operators will not repeat the mistakes of the past and will not use equipment or services that threaten US national security or the security of Americans as they build next-generation networks across the country, ”said the Acting Chair. FCC Jessica Rosenworth.

    Rumors are that Chinese 5G station is around 40-50% cheaper and has more features and better remote control capabilities. Without bans 2 major manufacturers could become bankrupt as soon as early 2022.

  • The Chinese government condemned Joe Biden's position. According to China, no one can trust the United States in the modern world. Further quote: "The United States is an unreliable country that cannot be trusted."

    Foreign Ministry spokesman Zhao Lijian says there is no winner in such a fight. According to him, the new sanctions will affect both China and the United States.

    This will seriously undermine technological and trade relations between the two countries and the world as a whole, it will disrupt global production and supply chains. The US must immediately end its crackdown on Chinese companies and treat Chinese companies in a fair and non-discriminatory manner.

    They are so naive, so naive, our little bureaucrats.

  • They are kind of new to the party maybe that's why and maybe the big sharks don't now what to do with such a big beautiful virgin fish...(I'm fantasizing a bit).

  • It is all the same

    China accused the United States of violating protocol at a high-level meeting in Alaska and inappropriate treatment of guests, China Central Television reported, citing a representative of the PRC delegation at the talks.

    The meeting with the participation of US Secretary of State Anthony Blinken and the presidential national security adviser Jake Sullivan, as well as the head of the office of the CPC Central Committee Foreign Affairs Commission Yang Jiechi and Chinese Foreign Minister Wang Yi is being held in Anchorage.

    “The Chinese side with sincere intentions arrived at the invitation to Anchorage for a strategic dialogue with the United States and was prepared in accordance with the protocol previously agreed by the two sides. However, during the opening remarks, the American side abruptly went beyond the time limit with baseless attacks and accusations against China's foreign and domestic policies, provoking a conflict. This is not the ethics of dealing with guests, it is also not in line with diplomatic protocol. The Chinese side sharply responded to this, "the TV channel quoted the official.

    The meeting on Thursday began with sharp criticism of China from Blinken and Sullivan, while CHinese side gave a detailed answer to these statements.

  • EU slowly wakes up

    On March 22, the European Union imposed unilateral sanctions on relevant individuals and entities in China based on lies and false information under the pretext of the so-called human rights issue in Xinjiang.

    The European side ignored facts, turned black and white, grossly interfered in China's internal affairs, flagrantly violated international law and the basic norms of international relations, and seriously damaged China-EU relations. China firmly opposes and strongly condemns this. The Chinese government is unwavering in its determination to defend national sovereignty, security, and development interests.

    China has decided to impose sanctions on 10 persons and 4 entities that have seriously harmed China’s sovereignty and interests and maliciously spread lies and false information on the European side, including: Member of the European Parliament Petty Koffel, Geller, Glucksman, Ku Chuk, Lexman, member of the Dutch parliament Shelzma, member of the Belgian parliament Kograti, member of the Lithuanian parliament, Sakariene, German scholar Zheng Guoen, Swedish scholar Ye Biyang, European Council Political and Security Committee, European Parliament Human Rights Subcommittee, German Mercator Center for Chinese Studies, Danish Democratic Alliance Foundation. Relevant personnel and their family members are prohibited from entering the mainland of China and the Hong Kong and Macao Special Administrative Regions. They and their affiliated companies and institutions have also been restricted from communicating with China.

    China urges the European side to realize the seriousness of the mistakes, self-examine, correct mistakes, stop pretending to be a "human rights teacher", stop playing with hypocritical double standards, stop interfering in the internal affairs of other countries, and stop on the wrong path Go further. Otherwise, China will make a further firm response.

    Materialism rules!

  • UK, US and Canada join

    Following the European Union, the United Kingdom, the United States and Canada imposed sanctions against Chinese officials for violating the rights of the Uyghurs in the Xinjiang Uygur Autonomous Region.

    London imposed sanctions on four Chinese officials and one organization. Chen Mingguo, head of the public security department of Xinjiang, member of the party committee, head of the political and legal commission of the region, Wang Mingshan, deputy secretary of the Xinjiang party committee Wang Junzheng, and deputy chairman of the Standing Committee of the People's Congress Zhu Hailun were subject to restrictions. The sanctions also apply to the Xinjiang Production and Construction Corps.

    Similar sanctions were imposed by Canada, and two Chinese officials were included in the US "black" list.

    "Today's actions by the Treasury complement those taken by the European Union, the United Kingdom and Canada, which imposed sanctions against these and other individuals," the US Treasury said.

    US sanctions are imposed as part of the Magnitsky Global Human Rights Act.

    The imposed sanctions provide for the blocking of all property or property rights of persons included in the list on the territory of the named countries. Also, individuals and legal entities of the United States are prohibited from entering into any transactions with those on the list.

  • New round

    In Sweden, it was unexpectedly learned that most of the solar panels installed on the roofs of Swedish houses could have been produced in the criticized Xinjiang Uygur Autonomous Region of China. This calls into question the further development of solar energy in Sweden.

    More than six out of ten solar panels are manufactured in China. The raw materials for silicon come mainly from the Xinjiang Uygur Autonomous Region, where Sweden is believed to have at least one million Uyghurs and other ethnic minorities in retraining labor camps.

    One of the most popular brands of solar panels in Sweden, offered to customers by the energy company Vattenfall, is made by the Chinese company Jinko. Vattenfall rejects criticism of the use of slave labor and cites its own investigation.

    Of course, we reject forced labor, and now we are working on how to provide our consumers with panels that have nothing to do with Xinjiang Uygur Autonomous Region, ”said Annika Ramsköld, Vattenfall's sustainability manager.

    It is time to prepare, I mean guys from Ikea.

  • Oh man ( im not in us) what bullshit...

    Jokes apart I've been working in wind power industry ( nice job quite extreme for regular job) But man so much oil all around that can damage the environment...(just joking it will save the planet)...

    F*** is it everything going nuts???!!!

  • “Our relationship with Beijing, like many allies, is competitive in some cases, cooperative in others, and antagonistic in others." Blinken said in an interview with the Italian newspaper la Stampa.

    The goal is not to contain China, but to maintain "a system of world order based on rules that have been worked on since the end of World War II." The head of US diplomacy stressed that "China is acting by undermining this order, violating human rights or other obligations."

    "When someone challenges this system, China or others, plays against the rules or tries to undermine the commitments made by others, we all have reason to resist," Blinken said.

    Another strong idealist :-)

  • The United States is preparing to respond to the taxes that American online companies must pay now in some countries, such as Amazon.com Inc. and Facebook Inc., to impose duties on their goods worth nearly $ 1 billion annually, Bloomberg reported.

    According to documents released by the United States Trade Office (USTR), the duty could be up to 25% per year and will apply to goods imported into the United States, from Austrian grand pianos and British carousels to Turkish carpets and Italian anchovies.

    For each of the six countries, including Austria, the United Kingdom, India, Spain, Italy and Turkey, the US agency proposes to impose duties roughly equal to the amount of tax revenues each of them is expected to receive from US companies. The total annual fee cost is $ 880 million.

    In turn, the Internet association, of which Amazon, Facebook and Google Alphabet Inc. are members, welcomed the move by the US Trade Office.

    Step by step Amazon owners are turning trade war into hot war.

  • The Commerce Department has added seven supercomputer companies and organizations to its Entity List, banning US companies from supplying equipment or otherwise doing business. They build supercomputers that contribute to "destabilizing" military modernization efforts, nuclear weapons and hypersonic technology

    For Mordor they did same years ago.

  • Treasury issued a directive that prohibits U.S. financial institutions from participation in the primary market for ruble or non-ruble denominated bonds issued after June 14, 2021 by the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation, or the Ministry of Finance of the Russian Federation; and lending ruble or non-ruble denominated funds to the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation, or the Ministry of Finance of the Russian Federation.

    https://www.whitehouse.gov/briefing-room/statements-releases/2021/04/15/fact-sheet-imposing-costs-for-harmful-foreign-activities-by-the-russian-government/

    Most funny is how US themselves invent "harmful foreign activities" and order media to write totally stencil articles on this.

  • Chinese GDP

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  • Foxconn is drastically downsizing its controversial factory in Wisconsin after initially promising to invest $10 billion. The company will instead put $672 million into the project under its new deal with the state. At first, Foxconn said the facility would lead to 13,000 new jobs. Instead, it will only create 1,454 positions

    Who could have though...

  • To ensure the protection of national interests, taking into account unfriendly actions against the Belarusian people, the Government has established a list of goods prohibited for import and sale on the territory of the Republic of Belarus. The corresponding decision is enshrined in the Resolution of the Council of Ministers dated April 23, 2021 No. 240.

    The list of prohibited goods includes the goods of the groups of companies "LIQUI MOLY", "ŠKODA AUTO" and "BEIERSDORF" (trademarks "NIVEA", "EUCERIN", "LA PRAIRIE", "LABELLO", "HANSAPLAST", "FLORENA", " 8X4 "," SKIN STORIES "," GAMMON "," TESA "," CHAUL "," COPPERTONE "," HIDROFUGAL "," STOP THE WATER WHILE USING ME ").

    The resolution does not apply to goods imported by citizens into Belarus for personal use specified in the resolution, vehicles registered in the member states of the Eurasian Economic Union, as well as vehicles temporarily imported into the customs territory of the Eurasian Economic Union.

    Small retaliation to companies who called to cancel ICE HOCKEY WORLD CHAMPIONSHIP.

  • The actions of the West are forcing Moscow to use protective mechanisms against "partners" influence. On April 19, 2021, the Russian government adopted Resolution No. 622, which restricted the provision of information to audit organizations controlled by foreign citizens and companies, individual auditors.

    The above organizations should not be provided with information determined by the relevant laws if the audited are issuers of securities and provide consolidated financial statements. The amount of information and documents provided by the audited entity included in the list of Russian defense industry companies was also limited.

    In addition, foreign auditors can no longer access the reports of Russian banks and credit institutions, depositories and insurers, non-state pension funds or managers of investments and pension savings of the company. Foreigners were also denied the opportunity to conduct audits in microfinance companies, clearing firms, as well as in retail chains.

    Thus, the Russian Federation effectively prohibited local work of largest audit corporations on the planet. This, no doubt, will not remain without the attention of the West, since it is its structures that have been actively working on the Russian market for many years. The Big Four of the world's auditors include: Deloitte (London, UK), KPMG (Amsterdam, Netherlands), PricewaterhouseCoopers - PwC (London, UK), Ernst & Young - EY (London, UK).

  • The world will not agree to live by the rules established only by some Western countries, Chinese Foreign Minister Wang Yi said during a video conference with representatives of the US Council on Foreign Relations.

    "The US claims that China is" the only country capable of throwing down a comprehensive challenge to the international system. "We cannot agree with this. China has developed within the current international system. Why should we challenge the system of international relations that is in our own interests ? Is there a reason to start over? " - said Wang I.

    What really worries him, he said, is the fact that multilateralism has faced opposition recently, and the world has faced the threat of splitting.

    "The previous US administration violated treaties in every possible way, withdrew from various groups, abandoned international obligations and became the largest violator of the current international order. We welcome that the administration of President Joe Biden has returned to multilateralism," he added.

    The Chinese Foreign Minister noted that “some people in the United States have repeatedly expressed their desire to strengthen“ an international order based on rules. ”“ But the question is what are the rules, who established them, ”he said.

    "If these are only rules defined only by a number of Western countries, in this case, these rules are established by only 12% of people in the world, they cannot become universal rules for all countries," Wang Yi stressed.

    The diplomat stressed that China's philosophy is very simple, it lies in adherence to the system of international relations with the central role of the UN and a world order based on international law.

    "This alone represents the common will of all countries and is the implementation of true multilateralism," Wang Yi stressed.

    Either Chinese elites are utterly stupid idealists or they are totally nuts.

    But what if they are both?

  • Apple

    In EU new anti monopoly process opens in few days. It is expected that fines can reach as much a 5 billions and Apple can be ordered to lower cut to as much as 5% only for smaller EU authors.

    In Mordor Apple is fined 12 millions USD, fines rose 50 times in last 3 months and can reach 150 millions around September.

  • Western Digital Corporation CEO David Goeckeler said in an interview with the Japanese Nikkei Asian Review that any geographic restrictions on market access harm the semiconductor segment, as the huge investment required is better justified in the global market.

    Attempts by individual countries to isolate themselves in a technological sense, according to the CEO of Western Digital, lead to a decrease in investment efficiency, and therefore can slow down the technological progress itself.

    Guy just did not mention that WD is part of greedy cartel and they also now sponsoring Chia crypto scam.