patrick.net

https://www.bbc.com/news/business-57979857

The Nasdaq Golden Dragon China Index, which follows the 98 biggest US-listed Chinese stocks, has fallen by almost 15% in the last two trading sessions.

The index has now plummeted by more than 45% since hitting a record high in February.

The slump comes after a series of crackdowns by Beijing on its technology and education industries.

This has led to around $770bn (£556bn) being wiped off the value of US-listed Chinese stocks in the last five months alone.

Any private company in China can be taken over or shut down at any moment by the CCP.

It is not safe to do business in China.

farmer2021 says

China wants to be a manufacturing-based superpower, not a financialized one (like the US).

The Chinese are pretty smart. That's why they got all the factories. That's what gives them power over America now.

Those factories lose viability as they rust and the knowledge of how to run them is lost.

HunterTits says

It takes DECADES to build up a decent blue water navy.

I'm afraid it will also take decades for the US to recover its lost manufacturing ability, and that if and only if there is a determined push to bring back manufacturing here, as Trump advocates.

Now that the oligarchy has subverted democracy to get Trump out of office, I don't see that happening any time soon.

In the meantime, China has great power over us to cut off supplies of finished goods and parts.

farmer2021 says

I don't agree. Most of what we import from China we don't really need.

Remember during the beginning of the pandemic when there were shortages of antibiotics made only in China, and the US couldn't make them because the raw materials also come only from China?

I remember that.

farmer2021 says

US can produce antibiotics too.

The question is how quickly and at what cost.

I think it would take years to recover US antibiotic manufacturing ability.

Take the PRC off of SWIFT.

Terms of restoration of interbank payment functionality:

Everyone in the PRC guaranteed weapons and a 20 year supply of ammo, even if they have to fire 10 rounds a minute, three shifts a day.

Multiparty elections.

Unions.

Otherwise, no buy slave-made shit.

SumatraBosch says

Take the PRC off of SWIFT.

So this means to isolate their banking system, right?

Yes.

Let them pay their bills with rocks and Ramen.

Technically that should be "rocks and lo-mein".

"Ramen" is just the bad Japanese pronunciation of the Chinese word lo-mein.

But then it wouldn't alliterate. Unless you're Japanese.

https://www.reuters.com/business/aerospace-defense/china-quietly-sets-new-buy-chinese-targets-state-companies-us-sources-2021-08-02/

China quietly sets new 'buy Chinese' targets for state companies

WASHINGTON, Aug 2 (Reuters) - China's government quietly issued new procurement guidelines in May that require up to 100% local content on hundreds of items including X-ray machines and magnetic resonance imaging equipment, erecting fresh barriers for foreign suppliers, three U.S.-based sources told Reuters.

Patrick says

https://www.reuters.com/business/aerospace-defense/china-quietly-sets-new-buy-chinese-targets-state-companies-us-sources-2021-08-02/

China quietly sets new 'buy Chinese' targets for state companies

WASHINGTON, Aug 2 (Reuters) - China's government quietly issued new procurement guidelines in May that require up to 100% local content on hundreds of items including X-ray machines and magnetic resonance imaging equipment, erecting fresh barriers for foreign suppliers, three U.S.-based sources told Reuters.

Biden will pretend nothing happened.

Patrick says

The Chinese are pretty smart. That's why they got all the factories. That's what gives them power over America now.

That and all the politicians they own.

Patrick says

But then it wouldn't alliterate. Unless you're Japanese.

That's racist!