Reuters- U.S. tries to hobble China chip industry with new export rules
The Biden administration published a sweeping set of export controls on Friday, including a measure to cut China off from certain semiconductor chips made anywhere in the world with U.S. equipment, vastly expanding its reach in its bid to slow Beijing’s technological and military advances.
I look forward to the computer chip shortages and long delays ordering anything that uses semiconductors now.
The US cutting its own nose off to spite its face, and dealing itself out of yet more international trade.
Taiwan is the largest chip producing nation on the planet.
China is Taiwan’s largest trading partner.
I’m old enough to remember when PDJT imposed tariffs on ChiCom goods that actually HELPED America …
No you’re not because it never helped America. It was the end of the good times.
Davos wants to force China to supply RE metals. Replacing Putin with their stooge is part of the plan.
China has been the world’s largest supplier of RE metals for over 20 years(~90%). It’s also one of the biggest consumers of them(~60%).
Just the sort of thing a dying Empire does. It didn’t have to be this way. All the US can do now, is try to compete. The old world order with the US sitting at the head of the table taking the choicest portions are over. Some would call this levelling the playing field.
The west, not satisfied with killing their own economies, is trying, under the auspices of Davos, to kill off the entire planet’s economy.
This is the kind of crap that started the Great Depression, but it’s hilarious to see people who supported exactly that kind of crap under Trump pretend they oppose it now.
You seem to be unable to discriminate between tariffs, used to protect local industry, and sanctions, used to punish enemies.
Tariffs are the sanctions a country imposes on itself. Basically filling your own harbor with huge boulders.
LOL.
You just pull little sound bites out of your anus and expect people to fall for them.
It’s the truth regardless.
The simple fact that the western leadership seems to have forgotten is that in order to successfully throw your weight around in the international theater, you need a very powerful economy. Western powers are continually hobbling their own economies, and, as a result, their influence in the international theater is shrinking, while the BRICs countries are not hobbling their own economies, and, as a result, their influence in the international theater is growing.
Unfortunately the BRICs do hobble their economy and more so than the western ones which are still mostly richer than the BRICS. The BRICS seem to be fitfully headed in the right direction. China’s lack of open capital markets is huge-self own even if they are slowly opening it. It would be very easy for China to become the superpower of the world without firing a shot, she only has to remove the shackles placed upon her by the commies.
You are a bald-faced liar, and a poor propagandist, about on par with CNN if not MSNBC.
China economic growth for 2021 was $17,734.06B, a 20.74% increase from 2020.
The US economy has been growing at a rate of around 1-3% for the last few years.
1) That’s from a much lower baseline than America
2) That’s a country with far more people than America-per capita GDP is still lower than America’s
3) China is having meltdown in its real estate sector
4) Only an idiot takes China’s claims of economic growth at face value without any salt at all
1. The baseline is GDP: 18T$ for China and 23T$ for the US.
2. Per capita GDP is not an indicator of strength in international markets.
3. China has had that problem for many years, it didn’t slow growth.
5. I get my info from American sources, like macrotrends.net.
Once again, you pull BS talking points from crapola like CNN and Forbes and spout them as if they’re gospel.
Everything you said is either besides my point (I’m talking about wealth not ‘strength in international markets’) or wrong ie China’s real estate meltdown is new and intensifying.
China is not going to overtake America until it takes the plunge and liberates its capital markets completely.
So, they’re blowing up the pipeline that carries the chips?
Jeez, I guess it’s true. When all you have is a hammer, all your problems look like people who need to be hit with a hammer.
That’s been the basis of US foreign policy since WW2.
“When all you have is a hammer, all your problems look like people who need to be hit with a hammer.”
Okay, THAT was funny…:)
China is as dependent on Taiwan for high end chips as we are.. This is leverage that can be used.. Yes, China could start a trade war but that’s just going to put oil and gas Trump 2.0 in office.. They don’t want that either..
There we have it! Any serious trade war will cause a change in government in the US ( or any other western nation), but not in China. Since governments act in the interest of retaining power, they have everything to lose from even relatively minor disruptions in supply or services.
Come on, guys and gals. You’re missing the billboard right in front of your face.
Hint: Democrats don’t give a rat’s posterior about the defensive security of the US. They overtly compromise it at every opportunity. They especially do so when China is involved (especially this administration).
But, something hit the news cycle just two days ago that threatens the current sitting president. He presumes to have to prove his toughness on China despite being compromised by that very country. So, why not throw out worthless tariffs that I might add can’t be enforced since it applies to foreign manufacturers. It is merely optics for the press to hail and praise. “That Joe Biden sure is tough on China….what a guy.”
I am old enough to remember Trump doing similar things and all the trained seals clapping in perfect harmony. At least UnMe is consistently stuck on stupid.
The 2018 tariffs were a focused effort to counter the trade deficit as well as challenge a number of illegal Chinese business practices. As a result, the US Steel industry invested over $13 Billion in new steelmaking and mills across the US. Nucor (the biggest in the country) opened up new mills in Florida, Missouri, and Arkansas. Chinese imports dropped 15% opening up a more favorable climate for US businesses to build up manufacturing. And, had the pandemic not shut everything down and had the Fed not raised interest rates a number of times (some believe…vindictively) it would have probably worked. By the end of 2018, US manufacturing had increased nearly 3%. It WAS working. It’s one of the reasons some of us think the pandemic was no accident.
Incidentally, most of the “Trump tariffs” are still in place.
Yes I agree, I mostly supported those tariffs. The point I am making is that those who criticize current tariffs are regurgitating the same arguments anti Trumpers were using few years ago.
BIden’s “tariffs” are Kabuki Theater. He needs something to counter what likely will be leaked by the FBI and the alphabet agencies post mid-terms. If he can’t show something close to how he is tough on China, he’s impotent to defend himself. The leak to the media that Hunter is going to be indicted on tax charges was the warning shot. Biden won’t finish his term. After the mid-terms we’ll get the generic “health issues” speech and a resignation.
I’m not the only one that thinks this. Rumors are starting to seep out.
What’s going to be interesting is to see which media pieces support Biden, and which ones don’t. We’ll be able to finally separate the teams.
Two separate issues, in no way Biden’s sanctions will cover Hunter’s story (media will with or without sanctions, again).
“Biden won’t finish his term.”
There’s literally no reason to think this. His failson won’t matter. Biden’s ratings are at an 18-month high and the GOP’s terrible candidates make it likely the Dems will face a gentle midterm election result.
The result of Trump’s tariffs (and immigration restrictions) was the end of ‘the good times’.
“had the pandemic not shut everything down and had the Fed not raised interest rates a number of times (some believe…vindictively) it would have probably worked. ”
Wrong. If it had worked, Trump wouldn’t have had to cry to the fed to stop raising rates (they should’ve ignored him). Instead business investment started dropping in 2018 and GDP growth was tepid at best that year and in 2019. The Trump economy sucked.
America doesn’t need any steelmaking whatsoever. It doesn’t need any manufacturing. If those industries require tariffs to survive, then they deserve to die.
“Chinese imports dropped 15% opening up a more favorable climate for US businesses to build up manufacturing. ”
They screwed over many to benefit a few: “studies suggest American consumers paid about $817,000 in higher prices attributable to the tariffs for every job created in the washing machine industry and $900,000 in the steel industry.”
https://www.brookings.edu/policy2020/votervital/did-trumps-tariffs-benefit-american-workers-and-national-security/
That’s always how it is with ‘trade wars’. Tariffs are self-imposed sanctions, that is all. Trying to tariff your way to prosperity will turn your country into Argentina. Biden is a fool not to have simply ended these it would put a dent in inflation. I expect he will eventually. Capitalism always wins.
Like I said: consistently stuck on stupid.
Yes, you are. I’ve brought the evidence because I’m the one who is economically literate.
We’ve been over this, you’re not economically literate, taking Econ 105 (economics for non specialists) does not make you economically literate. Backing this “knowledge” with orthodox Randian bullshit mixed in with hate for white people does not help either. I have given you references on how differences in government costs may lead to a won or lost tariff war. You have chosen to ignore it because it did not fit your limited millennial attention span.
“America doesn’t need any steelmaking whatsoever. ”
Sure when going to war against China they can always buy cheap Chicom weapons instead of overpriced domestic ones.
Biden vacated 350 of them in March and got NOTHING in return. He is a Master of Foreign Policy.
It won’t matter much in the long run anyway, as Biden’s energy policy is going to crush every heavy industry in the US.
Wrong. Lower/fewer tariffs is its own reward. Americans are slightly less poor and freer for those 350 vacated tariffs.
Further, we don’t know if Biden is or isn’t getting anything. China is not rushing to Russia’s side. They take the oil at heavy discount, give FA weaponry or diplomatic support in return. Some ‘special relationship’. I don’t know if this is a result of ‘trade diplomacy’ or not, it’s just a possibility.
As America retreats from globalization, the true reset will be depression and reduced order elsewhere. Here in Canada they will bring us into line. Western hemisphere kicks a$$.
The same administration that relieved China of 350 Trump-era tariffs in March and got NOTHING in return.
Biden is continuing his 50-year legacy of horrendous positions on foreign policy.
Wrong. Lower/fewer tariffs is its own reward. Americans are slightly less poor and freer for those 350 vacated tariffs.
Further, we don’t know if Biden is or isn’t getting anything. China is not rushing to Russia’s side. They take the oil at heavy discount, give FA weaponry or diplomatic support in return. Some ‘special relationship’. I don’t know if this is a result of ‘trade diplomacy’ or not, it’s just a possibility.
It’s the Chinese empire that is dying. Insolvent banks. Foreign capital fleeing. Crashing real estate. Loss of labour competitiveness to SE Asia. And domestic capital cannot leave the country fast enough. This fresh capital is great for the rest of the world.
Remember that on a per capita basis, China is ranked 79th per capita.
Their population is Aging. In the next 10 years they will overtake Japan in that category. And no one immigrates to China. Just the opposite.
Reshoring chips is a good move. Anything that takes down dictators is good. So what if the cost of chips doubles. Given the downward spiral in chip cost per unit of processing power, this can be overcome in a matter of months.