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TRADE WAR gets an AP Stylebook upgrade
A heightened US-China FINANCIAL WAR imperils global economy
AP Explains: "An unpredictable escalation in President Donald Trump's trade war with China, one that spreads the conflict to currency markets, threatens to involve other countries and raises the risk of a global recession."

Description of hostilities, cease-fire, rapid-fire (amid impasse), tit-for-tat exchange ensues, culminating in the most preposterous statement about FRB market operations so far this week.

In the past, the notion that the United States might intervene in the markets, buying foreign currencies and pushing down the dollar to gain an advantage, would have been farfetched.
## Mental disorder is a communicable disease.

Diversity is the key to economic and political evolution.
by Cat on Wed Aug 7th, 2019 at 03:46:54 PM EST
[ Parent ]
Ninth Circuit Advances $35 Billion Privacy Suit Against Facebook
U.S. District Judge James Donato ordered it to alert users about an upcoming trial on claims that it harvested facial data in violation of an Illinois privacy law.
[...]
Facebook argued users lacked standing to sue because the mapping of their facial data did not cause them to lose money or suffer any economic injury.

Writing for the three-judge panel, U.S. Circuit Judge Sandra Ikuta, a George W. Bush appointee, wrote that "a concrete injury need not be tangible."

Huawei unveils its rival to Android. It's called Harmony
"open sourced". Whaadat?

archived
Huawei sues the US commerce department over seized equipment
Huawei Pushes Ahead With Trademarks for Own OS in Europe Amid US Crackdown

Diversity is the key to economic and political evolution.

by Cat on Sat Aug 10th, 2019 at 05:13:41 PM EST
[ Parent ]
Lack of G7, IMF support seen dimming impact of U.S. move on China's yuan
"'There's no chance that any of the G7 countries or any other country would support the United States on this because there is no evidence that China is manipulating its currency,' [former U.S. Treasury Fred Bergsten] said. ...[former U.S. Treasury Philip Diehl] said the Trump administration's actions call into question the legitimacy of the whole process for evaluating currency manipulations.

"'They're not well thought out, they're impulsive and they do not appear to be coordinated with our allies,' Diehl said."

Diversity is the key to economic and political evolution.

by Cat on Sun Aug 11th, 2019 at 09:19:32 PM EST
[ Parent ]
PRC has 1+ billion people, ~200,000,000 of 'em in the middle of a Middle Class consumer frenzy and an economy growing by ~6%/yr.  

The US has ~320 million with an ever-shrinking Middle Class who already have enough cheap shoddy consumer shit to last them for the rest of their and their children's life and an economy limping its way to recession.

Of course the rest of the G7 gave 'em the raspberry.

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Mon Aug 12th, 2019 at 08:01:26 PM EST
[ Parent ]
It is surprising how good the Chinese stuff is these days. Made of nice durable plastic, usually reasonably functional, shipped in packaging that properly keeps it from breaking in transit, cheap to buy at Walmart.

China can control this whole thing with one simple step: Don't ship the Christmas presents. It would trigger a consumer revolt as has never been seen on Earth.

by asdf on Mon Aug 12th, 2019 at 08:58:26 PM EST
[ Parent ]
White House pushes ban on Chinese-made buses, rail cars
The Senate version of the fiscal 2020 defense authorization bill would bar federal dollars from being used to purchase either passenger railcars or buses from such firms. The House version of the [NDAA] would limit the prohibition only to passenger railcars.
< wipes tears > and why is that? Miss Nancy knows better than ANYONE
The Chinese Railway Rolling Stock Corp., known as CRRC, has won contracts to produce subway cars and commuter train cars in Boston, Philadelphia, Chicago and Los Angeles since 2014
[...]
According to a June 2019 report by Oxford Economics, the total value of the CRRC rail contracts in U.S. cities is $2.7 billion.

[According to Automotive News China] Chinese electric bus manufacturer, Build Your Dreams, or BYD, meanwhile, has delivered 350 buses in the U.S. since 2014 to cities such as Indianapolis; Columbia, Missouri; and Wenatchee, Washington [and San Francisco, CA]. BYD is privately held, but those pushing for the Senate measure say the company benefits from substantial Chinese subsidies, allowing the company to "double-dip" by using Chinese subsidies to build vehicles and U.S. subsidies to allow cities to buy their buses.

< wipes tears >
[BYD spokesman Frank Girardot] said the company's factory in Lancaster, California, employs 800 union members and complies with federal "Buy America[n]" requirements.
I loved hauling that OBSCURE law out every time the CA Cohort started whining about low quality, cheap "chicom" merch they bought to equip their rental properties.

Diversity is the key to economic and political evolution.
by Cat on Sun Sep 8th, 2019 at 03:10:28 AM EST
[ Parent ]
Visa, Revised: Why EB-5 Is Getting Pricier and Harder to Use in Big Cities
Created by Congress in 1990, EB-5 encourages visa-seekers to invest in businesses and real estate projects in high-unemployment areas. The barrier to entry is high. At its lower tier, investors previously had to kick in at least $500,000 to a qualifying development in order to get a green card. Under the new regulations, the minimum investment has risen to $900,000. But in prosperous areas like New York City, EB-5 applicants will now have to put up at least $1.8 million -- a huge increase from the previous upper tier minimum of $1 million. Real estate watchers anticipate that making EB-5 more expensive will reduce the number of people who apply and, by extension, make it harder to raise financing for large developments using the program.
[...]
The number of EB-5 visa applications declined significantly last year, dropping 50 percent from 2017 to 2018, The Wall Street Journal reported in June. Chinese investors, who made up the vast majority of EB-5 applicants for the past decade, have largely retreated from the program because there is now a 16-year wait time for Chinese nationals to get an EB-5 visa. A recent uptick in applications from countries like India and Vietnam has limited the number of visas that the U.S. can approve from China. (The U.S. Citizenship and Immigration Service, which administers the program, only issues 10,000 EB-5 visas a year, and, with the higher demand, each country is limited to 700 visas annually.)
In Greece, an Economic Revival Fueled by 'Golden Visas' and Tourism

Diversity is the key to economic and political evolution.
by Cat on Tue Aug 13th, 2019 at 11:07:05 AM EST
[ Parent ]
Even fixing Wisconsin's Foxconn deal won't fix it, says state-requested report
The Foxconn deal, which was signed by Walker and touted by President Trump, was supposed to be transformational for Wisconsin. As the first large-panel LCD factory in the Western Hemisphere, it was supposed to span 20 million square feet and create 13,000 jobs. Proponents of the deal said the benefits more than justified the considerable costs: at least $4.5 billion in subsidies and other incentives that the Wisconsin Legislative Fiscal Bureau estimated wouldn't be recouped until 2043.
Make It in America Partnerships
Many of Clinton's proposals, including the Make It In America Partnerships, are a lot like ideas put forward by the Obama administration. But while President Obama's ambitions were hobbled by the Great Recession, Clinton believes she has the opportunity to take the agenda much further. Still, Clinton faces the same reality as Trump. Manufacturers today are so much more productive. They don't need as many workers as they used to.
Why many employees feel ["]]devalued["] even in ["]booming["] job market

Diversity is the key to economic and political evolution.
by Cat on Tue Aug 13th, 2019 at 10:52:20 AM EST
[ Parent ]
Stocks soar after US delays plans for some China tariffs
"On Tuesday, The Office of the U.S. Trade Representative said it would delay the tariffs on some products, including popular consumer goods, until Dec. 15. A few other products were removed altogether, including certain types of fish and baby seats."

Diversity is the key to economic and political evolution.
by Cat on Tue Aug 13th, 2019 at 09:10:32 PM EST
[ Parent ]
one survey, two stories

AP | 74% of economists in survey see US recession by end of 2021, 19 Aug
"The economists surveyed by the National Association for Business Economics, in a report released Monday..."
The Hill | About one-third of economists expect recession in 2020: survey, 19 Aug
"Thirty-eight percent of economists surveyed by the National Association for Business Economics forecasted ..."

Diversity is the key to economic and political evolution.

by Cat on Mon Aug 19th, 2019 at 11:42:40 PM EST
[ Parent ]

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