Biden accused China steel manufacturers of cheating and
not competing due to state subsidies. In that case, the USA with Biden
must be the greatest cheater in the world. His chip subsidies are
already the largest in the world, and getting larger to make sure those
Chip makers in Arizona can survive. TSMC is getting another US$6.6
billion of subsidies to ramp up production.
Oh, I forgot, only
the USA can subsidise its manufacturing and all other countries are
cheating if they follow the USA. I cannot fathom the warp argument from
the 'Nation of Liars'. Only in his dementia tainted mind could he
believe that his accusation makes sense.
Biden is also talking
about increasing steel tariffs from China to three times the present
rate. Good luck to the USA, Ukraine and Israel. The USA is now also
sanctioning Russian metals - aluminum, iron and copper. He is out of his
mind to do that, knowing he needs to import most of these metals to
make weapons, with two wars on hand to support, and a regional war on
the cards.
This is going to backfire badly on the USA and EU.
The real winner will again be China, and Russia will not suffer because
of the availability of the Chinese market. That makes me now understand
why Yellen is against Russia and China trading with each other. They
cannot punish Russia with their sanctions because trade between China
and Russia gets in the way. Just like the oil price cap that has failed
miserably. This is another Yellen idea that is going to shoot the USA
and EU in the foot again.
Anonymous
The USA is now like a cancerous country, rotting from within, unaware of the cancer spreading internally from administration to administration. And this kind of cancer is even harder or impossible to cure, as it is the contagious type, spreading from one leader to another. Cancer is only known to spread inside a person itself, and not from one person to another.
ReplyDeleteThe biggest hurdle preventing a person who has cancer getting cured early is denial, until the cancer gets to the terminal stage and then there is no cure. The USA is going fast and furious in that direction.
The policy failures of the USA policy makers are so apparent, with even ordinary people talking about it, but the leaders just seem to turn a deaf ear and continue to make the same mistake over and over. The USA and the West assumed that sanctions would work on countries of all shapes and sizes and they were wrong. Russia is a perfect example today. Decades of sanctions against North Korea, Cuba and Iran produced little effect as well. Now the biggest mistake is about to be realized and uncovered but already too late to remedy.
Chinese chipmakers have been pushed to the wall by Joe Biden with his Chip's Alliance and sanctions against China, by forcing global chipmakers to keep China away from high-end chips. This is backfiring on the USA and those that swallowed the poisonous potion administered by Biden, claiming that such a move would be better for their fortunes if they take down China in this sector. Now they are finding out the truth, but is it too late? Once China rises in the sector to compete, it is sounding the death knell for all other chipmakers.
China, vis a vis Huawei, SMIC and others are romping ahead in matured and high-end chips, both in research and innovation, at such speed, that it is even now exporting chips, 6 billion pieces to compete with the likes of Intel, Nvidia and others in the global market. This would not have happened if the USA had not tried to force China to be self-reliant and let the USA, Japanese and South Korean chipmakers to continue making those high-end chips and selling them to China and the rest of the world. Now China is evidently self-sufficient in many areas, to the extent that it is able to export chips to the rest of the world. Did the USA, Japanese and South Koreans chipmakers expect that? They must be shell-shocked.
Napolean, more than a century ago made this prediction - 'China is a sleeping giant, let him sleep, for if he awakes, he will shake the world'. The giant has been forced to wake up and is now shaking the world.