Russia-Ukraine War : Members of the French far-left trade union retook the streets & protested against the highest inflation. They marched through the streets of Paris with slogans & banners. The Protestors are demanding pay rises to compensate for inflation. Currently. France is facing a ‘Cost of Living Crisis’. Last week workers of trade union ended nearly a monthlong strike over pay hikes. Is this the beginning of the brewing revolution in France?
Biden tech war against China cost tech companies US$3 trillions loss in 1 year and increasing, their share prices crashing 拜登針對中國的科技戰爭使科技公司在一年內損失了 3 萬億美元，而且還在不斷增加，它們的股價暴跌 by KJ, SF Bay Area China Group 10-28-22
Their disappointing results suggest that even the strongest U.S. companies are feeling the effects of tighter Fed policy, a soaring dollar and persistent inflation.
This is an interesting article analysing why China’s tech succeeded while the US’s is sunsetting: Neoliberal financialization for shareholder profits rather than research/investment/development, turning US/Western tech giants into financial corporations with an IT department: The US corporations ate their own seed corn. The CHIPS act will not turn that around.
While through the process of indigenous innovation, Chinese companies have become major global competitors, many US technology companies have fallen victim to corporate financialization. The starkest contrast is between the success of Huawei Technologies in communication infrastructure, in which the company is the world leader (followed by Sweden’s Ericsson and Finland’s Nokia), and the failure of US-based Cisco Systems to become a significant competitor in this segment. In a forthcoming paper, “The Pursuit of Shareholder Value: Cisco’s Transformation from Innovation to Financialization,” Marie Carpenter and William Lazonick document how, at the turn of this century, Cisco was positioned technologically to build on its global leadership in enterprise networking equipment to become a major competitor in the more sophisticated service-provider infrastructure segment. To do so, Cisco would have had to make large-scale investments in manufacturing and marketing as well as R&D. Instead, from 2002-2021, Cisco distributed USD144 billion (98 percent of net income) to shareholders in the form of stock buybacks as well as USD48 billion (another 33 percent of net income) as dividends. More generally, corporate financialization has robbed the United States of the possibility of attaining a leadership position in 5G and IoT.
In smartphone competition with Huawei, Apple has benefited immensely from US trade policy that, from the fourth quarter of 2020, eviscerated the Chinese company’s high-end smartphone output by coercing TSMC to stop shipping advanced nanometer chips to HiSilicon, Huawei’s chip-design subsidiary. Yet TSMC’s rise to global dominance of advanced chip fabrication was enabled by the fact that Apple itself chose to outsource semiconductor fabrication while, between October 2012 and June 2022, wasting USD529 billion on stock buybacks (92 percent of net income) to give manipulative boosts to its stock price. Apple could have deployed just a fraction of this cash to fund on a sustained basis its own state-of-the-art fab—as indeed an industrial journalist suggested to Apple CEO Steve Jobs in 2010. To put the extent of this corporate financialization in perspective, the combined USD27 billion that TSMC and Samsung Electronics committed to spending over several years from 2021 to launch state-of-the-art fabs in the United States was less than one-third of the USD86 billion that Apple spent on buybacks in 2021 alone.
Meanwhile, as has explicitly been recognized by Pat Gelsinger, Intel’s CEO, who took office in February 2021, corporate financialization has been a prime cause of that company’s loss of world leadership in chip fabrication to TSMC and Samsung. China’s SMIC may be struggling to catch up with the Taiwanese and Korean companies in advanced nanometer platforms, but Intel’s financialization has helped create an opening for SMIC’s development path. The same argument can be made about how Boeing’s corporate financialization, manifested by USD43 billion in buybacks from January 2013 to the first week of March 2019, just before the second of the two Boeing 737 MAX crashes, crippled a US-based technology leader, enhancing the possibility that China’s Comac, with its C919, might break into the Boeing-Airbus duopoly in the global manufacture of large aircraft.
US was laughing at China’s real estates market. Now the joke is on US. US by raising interest rates suck the US$ back home to save herself at the expense of worldwide economy. When you have a friend like US, who need an enemy? 美國在嘲笑中國的房地產市場。現在笑話在美國。美國通過提高利率將美元吸回國內，以犧牲全球經濟為代價來拯救自己。有美國這樣的朋友，誰還需要敵人？
So much for China’s real estate crash, according to Fortune Mag, the US Housing market activity is crashing—and it threatens to push the U.S. into recession just like it did in 1981 and 2008 https://archive.ph/7EWlK
Then, in 2023, Wells Fargo expects the housing downturn to intensify further. Next year the bank forecasts another drop in new-home sales (-6.5%), existing-home sales (-13.1%), single-family housing starts (-12%), and housing GDP (16%).
“A housing correction is already well under way…The primary driver behind the housing market correction thus far has been sharply higher mortgage rates,” write Wells Fargo researchers. And they don’t see much mortgage rate relief coming next year. “The fiercely hawkish Fed is one reason why we expect mortgage rates to remain above 6% through Q4-2023.”
Whatever you call it—housing downturn, housing correction, or housing recession—the housing slump is clearly putting downward pressure on home prices. Wells Fargo predicts that national home prices will sink 5.5% next year.
Claudia de la Cruz, Co-Director of the People’s Forum, spoke at Riverside Church at an event billed “Democracy Beyond the U.S. Empire,” which featured the foreign ministers of Cuba and Venezuela. In this clip, she explains “the hard task of talking about U.S. democracy,” given the overall political trend towards stripping basic rights.
US look herself in the mirror & accused China because that is how US “abandon” Native Americans & committed crimes against humanities 美國照鏡子指責中國，因為這就是美國“拋棄”美洲原住民並犯下反人類罪行的方式
I am in discussions with a couple of movie directors to do a fantasy historical movie about native Americans.
If native Americans were in China as one of the 57 minority races (56 now), what would have happened?
Using how China treated the other 55 minority races + Han race = 56 races.
Native Americans would be well treated, not only well treated, with special privileges like the Muslims in Xinjiang, the Tibetans in Tibet and etc. Native Americans population would be double and tripled. Children go to the best school, all of them, not just a few like the Canadian Native Indian we met in Saskatchewan Canada in 1973 being used to rule the other 99%.
Chinese believe that your next life determined by the good things one did in prior life.
It is of course a fantasy movie we are working on.
Chinese is a civilization state. Throughout our 5,000 years history we do not believe in hegemony. Yes, Chinese did go out to conquer, but takes no colony or slaves like the AngloSaxon did last 300+ years.
The Ching Dynasty (Manchu) and Yun Dynasty (Mongolian) did invade China, but in the end they adopted Chinese culture and civilization as their own.
That is why when you asked me or any Chinese if you love China so much why not go back to China. China as a civilization state, there is no boundaries, no physical boundaries. China is always in our hearts and it is our roots that make us strong and that is how 50,000,000 Overseas Chinese stay United and Patriots to our ancestors.
And that is why US is so scared because Chinese believe in common prosperity for mankind, and Americans believe in prosperity building on others miseries.
US look herself in the mirror & accused China because that is how US “abandon” Native Americans & committed crimes against humanities 美國照鏡子指責中國，因為這就是美國“拋棄”美洲原住民並犯下反人類罪行的方式
I am in discussions with a couple of movie directors to do a fantasy historical movie about native Americans.
If native Americans were in China as one of the 57 minority races (56 now), what would have happened?
Using how China treated the other 55 minority races + Han race = 56 races.
Native Americans would be well treated, not only well treated, with special privileges like the Muslims in Xinjiang, the Tibetans in Tibet and etc. Native Americans population would be double and tripled. Children go to the best school, all of them, not just a few like the Canadian Native Indian we met in Saskatchewan Canada in 1973 being used to rule the other 99%.
Chinese believe that your next life determined by the good things one did in prior life.
It is of course a fantasy movie we are working on.
Chinese is a civilization state. Throughout our 5,000 years history we do not believe in hegemony. Yes, Chinese did go out to conquer, but takes no colony or slaves like the AngloSaxon did last 300+ years.
The Ching Dynasty (Manchu) and Yun Dynasty (Mongolian) did invade China, but in the end they adopted Chinese culture and civilization as their own.
That is why when you asked me or any Chinese if you love China so much why not go back to China. China as a civilization state, there is no boundaries, no physical boundaries. China is always in our hearts and it is our roots that make us strong and that is how 50,000,000 Overseas Chinese stay United and Patriots to our ancestors.
And that is why US is so scared because Chinese believe in common prosperity for mankind, and Americans believe in prosperity building on others miseries.
The allegation is that two Chinese officials tried to bribe a U.S. official to get testimony and witness lists…指控是兩名中國官員試圖賄賂一名美國官員以獲取證詞和證人名單… It’s very suspect that somebody would’ve gone to such an extraordinary extent for information that would have been released anyway.” 非常懷疑有人會為了獲得無論如何都會發布的信息而付出如此巨大的努力.”
Europe has been warned. It has been told in no uncertain terms that there is no alternative to Russian natural gas supplies, unless Europe wants to get devastated for several winters to come. Qatar has now declared Europe cannot survive without Russian gas. Watch to know more. 歐洲已被警告。有人毫不含糊地告知，除了俄羅斯的天然氣供應，別無選擇，除非歐洲想要在未來的幾個冬天遭受破壞。卡塔爾現在宣布，如果沒有俄羅斯的天然氣，歐洲就無法生存。觀看以了解更多信息.
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