Economy The U.S-China Trade War: China said it would impose retaliatory tariffs on $75 billion in U.S. goods

That's top notch, awesome post

I didn’t even get to my favorite part. In their tit for tat retaliatory efforts just last week China announced tariffs on, you guessed it, US hardwood lumber exports. The price for walnut, which they’ve been driving up for more than a decade, has immediately come back to earth and by the end of summer what remaining Chinese manufacturers who are buying that taxed US lumber are going to see their product taxed again going the other direction. As much as the all-tariffs-are-bad peanut gallery likes to crow, these particular tariffs are going to correct a massive absurdity in global trade - not to mention offset all that bunker fuel the freighters burn for the completely unnecessary round trip to Asia.
 
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It still boggles the mind he felt the need to personally leap into the fray to save ZTE after his own damn Administration was about to put them out of business. That was some unprecedented shit, and particularly given he otherwise actually has been harsh on China.

He probably doesn't even know what the fuck is going on. Whatever, it doesn't matter. A lot of these problems were inevitable for China but the trade war is likely hurting them more than people want to admit. The stock market just lost it's place as world's second largest, there's reports of tension within the CCP (this isn't the first) and the state media is acting very, very strangely. I want to enact the next round on $200 billion worth to see what happens.

I actually have a fair degree of trust in Trump's USTR Robert Lighthizer - not Mattis level trust mind - and (but?) there's also an absolute radical anti-Chinese economic advisor Peter Navarro in there (yes, he's an economist thankfully). A trade war with China is almost desirable for all the shit they pull IF we aren't simultaneously flinging shit at the European Union, Canada and Mexico.


Perhaps Mr.Trumps advicers felt that Sanctioning ZTE is going too far and may cause US-CH trade relations to be permanently fractured.

But considering the hostile nature of Chinese leadership maybe Mr.Trump should have just let ZTE crumble and that may slowdown the Chinese loans they are using to bribe ultra corrupt regional dictators to accept Chinese power i.e.Duterte,HunSeng,Sri etc.

However a collapsing Chinese ecconmy might be a disaster for the entire region specially we 3rd worlders and we could get caught in the fallout may face shortages as we import a lot of stuff from China.

"ZTE should be put out of business".
- Little Narco Rubio

https://www.google.com.ph/amp/s/mobile.reuters.com/article/amp/idUSKBN1K32XH


Republican Senator Rubio slams lifting of U.S. ban on China's ZTE

(Reuters) - Republican U.S. Senator Marco Rubio criticized on Friday the decision by the United States to lift a ban on suppliers selling to ZTE Corp <000063.SZ), allowing China's second-largest telecommunications equipment maker to resume business.

"ZTE should be put out of business. There is no ‘deal’ with a state-directed company that the Chinese government and Communist Party uses to spy and steal from us where Americans come out winning," Rubio said in a statement following the U.S. Department of Commerce's lifting of the ban.
 
There is already two threads on this article

And this one is easily the best in terms of content. We need more civil, informed discussion on topics and less ultra-partisan shit slinging, slogans and memes.

Did not get to read whole article, but I want to touch on the first point about China's own divisiveness. It is no worse than what Murka has. Murka is too pretty fragmented. Its much more diverse, and now even more diverse with the antifa, SJW, Liberal, LGBTQ movement. China does not even have an antifa, SJW, Liberal, LGBTQ issue. Politics in Murka is much more cliquish.

Yea, and it has grown considerably worse since that passage was written four years ago. Probably worse than anyone could've anticipated, certainly more than I did anyway. You forgot to mention right-wing populism and ethnonationalism in there.

Also, subsidies themselves - in general - aren't illegal per WTO and every government does it with various industries, there are countervailing measures that can be taken to mitigate them but isn't remotely close when it comes to the scale, anti-competitive measures and market distortions China engages in although this is something of a separate point from Zeihan describing one component of the PRC economic engine.

From an American perspective China is pure guano, dude. I want blood.

Perhaps Mr.Trumps advicers felt that Sanctioning ZTE is going too far and may cause US-CH trade relations to be permanently fractured.

But considering the hostile nature of Chinese leadership maybe Mr.Trump should have just let ZTE crumble and that may slowdown the Chinese loans they are using to bribe ultra corrupt regional dictators to accept Chinese power i.e.Duterte,HunSeng,Sri etc.

However a collapsing Chinese ecconmy might be a disaster for the entire region specially we 3rd worlders and we could get caught in the fallout may face shortages as we import a lot of stuff from China.

"ZTE should be put out of business".

- Little Narco Rubio

https://www.google.com.ph/amp/s/mobile.reuters.com/article/amp/idUSKBN1K32XH

Republican Senator Rubio slams lifting of U.S. ban on China's ZTE

(Reuters) - Republican U.S. Senator Marco Rubio criticized on Friday the decision by the United States to lift a ban on suppliers selling to ZTE Corp <000063.SZ), allowing China's second-largest telecommunications equipment maker to resume business.

"ZTE should be put out of business. There is no ‘deal’ with a state-directed company that the Chinese government and Communist Party uses to spy and steal from us where Americans come out winning," Rubio said in a statement following the U.S. Department of Commerce's lifting of the ban.

I can understand that to a degree but my biggest issue with ZTE is that it doesn't fundamentally have anything to do with trade, it's a national security issue that existed before Trump even became POTUS. It was deeply inappropriate for him to use the ZTE issue as some sort of bargaining chip (punz) in trade negotiations and then when nothing comes of them, save ZTE anyway?

NoDak? Are you V2?

You know I couldn't stay away. <3 The whole thing was based, I believe, on a set of frivolous circumstances and unforgivable whiteness. I'm too pretty to be banned! And easily one of the friendliest posters on here apart from US/China talk. Rup is a top drawer mod though.
 
And this one is easily the best in terms of content. We need more civil, informed discussion on topics and less ultra-partisan shit slinging, slogans and memes.



Yea, and it has grown considerably worse since that passage was written four years ago. Probably worse than anyone could've anticipated, certainly more than I did anyway. You forgot to mention right-wing populism and ethnonationalism in there.

Also, subsidies themselves - in general - aren't illegal per WTO and every government does it with various industries, there are countervailing measures that can be taken to mitigate them but isn't remotely close when it comes to the scale, anti-competitive measures and market distortions China engages in although this is something of a separate point from Zeihan describing one component of the PRC economic engine.

From an American perspective China is pure guano, dude. I want blood.



I can understand that to a degree but my biggest issue with ZTE is that it doesn't fundamentally have anything to do with trade, it's a national security issue that existed before Trump even became POTUS. It was deeply inappropriate for him to use the ZTE issue as some sort of bargaining chip (punz) in trade negotiations and then when nothing comes of them, save ZTE anyway?



You know I couldn't stay away. <3 The whole thing was based, I believe, on a set of frivolous circumstances and unforgivable whiteness. I'm too pretty to be banned! And easily one of the friendliest posters on here apart from US/China talk. Rup is a top drawer mod though.


I want ZTE crushed too that company is not only a security risk for America but the entire world too. Years ago former Philippine President Aroyo got involved in what would be called the ZTE broadband deal scandal were they will setup networks across the country but it was blocked by congress due to saud security risks and corruption
 
I want ZTE crushed too that company is not only a security risk for America but the entire world too. Years ago former Philippine President Aroyo got involved in what would be called the ZTE broadband deal scandal were they will setup networks across the country but it was blocked by congress due to saud security risks and corruption

I had absolutely zero knowledge of that, and this is why your Pinoy Perspective© is always so valuable on all things China. It feels like there's rarely an issue between America and the PRC that doesn't either directly affect, trickle down or be anything that the Philippines isn't already familiar with in some form or fashion. The US military posture in the region obviously has a lot to do with it as well.

If anyone actually needed a refresher on why this shit has reached a near boiling point.

https://www.nytimes.com/2017/08/15/opinion/china-us-intellectual-property-trump.html
For too long, the United States has treated China as a developing nation to be coaxed and lectured, while tolerating its bad behavior as merely growing pains. There has been an expectation that as China’s economy matures, it will of its own accord adopt international standards in commerce, including protection for intellectual property.

There has also been a tendency to excuse mercantilist behavior, including industrial espionage, as a passing phase, and to justify inaction as necessary to secure Chinese cooperation on other, supposedly more important, issues.

Chinese companies, with the encouragement of official Chinese policy and often the active participation of government personnel, have been pillaging the intellectual property of American companies. All together, intellectual-property theft costs America up to $600 billion a year, the greatest transfer of wealth in history. China accounts for most of that loss.

Intellectual-property theft covers a wide spectrum: counterfeiting American fashion designs, pirating movies and video games, patent infringement and stealing proprietary technology and software. This assault saps economic growth, costs Americans jobs, weakens our military capability and undercuts a key American competitive advantage — innovation.

Chinese companies have stolen trade secrets from virtually every sector of the American economy: automobiles, auto tires, aviation, chemicals, consumer electronics, electronic trading, industrial software, biotech and pharmaceuticals. Last year U.S. Steel accused Chinese hackers of stealing trade secrets related to the production of lightweight steel, then turning them over to Chinese steel makers.

Perhaps most concerning, China has targeted the American defense industrial base. Chinese spies have gone after private defense contractors and subcontractors, national laboratories, public research universities, think tanks and the American government itself.

Chinese agents have gone after the United States’ most significant weapons, such as the F-35 Lightning, the Aegis Combat System and the Patriot missile system; illegally exported unmanned underwater vehicles and thermal-imaging cameras; and stolen documents related to the B-52 bomber, the Delta IV rocket, the F-15 fighter and even the Space Shuttle.
 
'Leave Immediately!': China Sent 6 Warnings To A US Navy Plane, But The US Didn't Back Down

Chinese forces deployed to the hotly contested South China Sea ordered a US Navy reconnaissance aircraft to "leave immediately" six times Friday, but the pilot stayed the course, refusing to back down.

A US Navy P-8A Poseidon reconnaissance plane flew past China's garrisons in the Spratly Islands, giving CNN reporters aboard the aircraft a view of Chinese militarization in the region.

Flying over Chinese strongholds on Mischief Reef, Johnson Reef, Fiery Cross Reef, and Subi Reef, CNN spotted "large radar installations, power plants, and runways sturdy enough to carry large military aircraft." At one outpost, onboard sensors detected 86 vessels, including Chinese Coast Guard ships, which China has been known to use to strong-arm countries with competing claims in the South China Sea.

Lt. Lauren Callen, who led the US Navy crew, said it was "surprising to see airports in the middle of the ocean."

The Chinese stationed in the area were not exactly kind hosts to the uninvited guests.

Warning the aircraft that it was in Chinese territory — an argument an international arbitration tribunal ruled against two years ago — the Chinese military ordered the US Navy plane to "leave immediately and keep out to avoid any misunderstanding."

Six warnings were issued, according to CNN, and the US Navy responded the same every time.


@ShinkanPo


Navy's Response? <JonesDXSuckIt><JonesDXSuckIt><JonesDXSuckIt><JonesDXSuckIt><JonesDXSuckIt><JonesDXSuckIt>


6 replies.
 
China Pivots to Europe for Forced Technology Transfers and Intellectual Property Theft
Joyce Huang | 23 July 2018

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Visitors look at a display of information technologies at an exhibit highlighting China's achievements under five years of Xi Jinping's leadership at the Beijing Exhibition Hall in Beijing, China, Oct. 17, 2017


Amid escalating trade friction with the United States, China appears to be courting Europe to fill the gaps in providing opportunities for technology transfers. Analysts, however, are urging Europe to be wary in its dealings with China. They say it will be political and economically unwise for Europe to take advantage of the Sino-U.S. dispute and allow China to continue unfair trade practices that include forced tech transfers and intellectual property theft.

The U.S. has accused China of using “state-led efforts to force, strong-arm and even steal U.S. technology and intellectual property.”

Rob Atkinson, who heads the Washington, D.C.-based Information Technology & Innovation Foundation (ITIF), says Europe should stop cutting deals with China that he says will offset the Trump administration’s efforts to punish Beijing.

In early July, the U.S. launched a first round of tariffs on $34 billion of Chinese goods. China's tariffs on $34 billion of U.S. imports, including soybeans, also took effect at the same time. U.S. President Donald Trump last week vowed to impose tariffs on all $505 billion worth of Chinese imports. China has vowed to retaliate if the U.S. slaps more tariffs on Chinese goods in the coming months.

The U.S. and China are the world's two biggest economies.

Made in China 2025

FC9175C5-96E8-4680-95C9-4D217B41D1BE_w650_r0_s.jpg

An industrial robot is displayed with a car at the booth of a Chinese automaker during the China Auto 2018 show in Beijing, China, April 26, 2018.
China’s tech ambition, unveiled in its “Made in China 2025” program, is believed to be at the core of its trade war with the U.S.

To avoid upsetting Washington, China has downplayed the initiative, which was first introduced in 2015 with the goal of comprehensively upgrading China's high-tech industries at home. A recent official report, however, concluded that China is still far from being a global tech leader.

According to the South China Morning Post, China’s Ministry of Industry and Information Technology recently learned that 30 of the country’s largest conglomerates rely heavily on imported components used in industries that produce rockets, large aircraft and even automobiles.

Exaggerated tech prowess

“The Chinese leadership wants to have it both ways. They want to tell their domestic population that they are [tech] leaders and they want to tell the rest of the world that they are not because they are afraid that, if they are seen as really big technology leaders or close to leaders, other countries will more actively push back against its unfair trade practices," ITIF’s Atkinson said.

Chris Dong, director of China research at market intelligence firm IDC, called the tech gaps between the two economies “significant” in not only components, but also innovation competency, fundamental engineering and business-sector transformations. Dong says China focuses its IT spending on hardware and infrastructure buildouts while the U.S. spends mostly on software and service in transforming digital technology.

“The prosperity of China’s Internet economy, fueled by vast consumer technology adoptions, abundant capitals, and government’s policy and financial support, should not mislead domestic perception away from the true fact that China has an overall growing but weak technology strength,” Dong said in an email to VOA.

Forced tech transfer to continue

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A robot entertains visitors at the booth of a Chinese automaker during the China Auto 2018 show in Beijing, China, April 26, 2018.
The U.S. boycott, however, is unlikely to stop China from advancing technological developments, according to an industry insider.

“China for sure will continue its technology development regardless, if [the U.S.] has turned hostile. We still hope to seek cooperation, whether it is cooperation between China and the U.S. or Europe. Collaboration will lead to a win-win situation,” the insider said on condition of anonymity.

“China still keeps a certain level of R&D capacity. [The trade dispute] will only slow down its pace of catching up. The U.S. is unfriendly now. But Europe still looks friendly. China may turn to Europe for [coveted] tech transfer as long as Europe isn’t as hostile as the U.S.,” said Kuo-yuan Liang, president of Taiwan-based Yuanta-Polaris Research Institute.

The economist said he expects China to continue its forced technology transfer practices from foreign investors to Chinese operations, using its market access as an incentive to achieve its technological goal.
Recent statistics released by the Baker McKenzie and Rhodium Groups also supported the trend.

China’s pivot to Europe

The firms’ research found that the value of China’s merger and acquisition activities in Europe reached $22 billion in the first half of this year – nine times of that in North America during the same period.

Adam Dunnett, secretary-general of the European Union Chamber of Commerce in China, believed the sharp ratio has more to do with a decrease in capital flows to the U.S. than an increase into the EU.

He added that investment intended to acquire technology isn’t problematic, but that what is at issue is the degree of state involvement and the true motivation behind certain investments.

“If these decisions are demonstrably driven by market forces, then Europe welcomes them; however, due to the lack of transparency of many Chinese investments, even perfectly legitimate capital flows are increasingly being scrutinized,” Dunnett wrote in an email to VOA.

He added that European businesses shared similar concerns with the U.S. about China’s “market-distorting actions” including forced tech transfer and infringements of intellectual property rights.

“China has …taken some action to improve the situation, but the overall actual impact has been very limited. Tensions will remain, and potentially worsen, until results are felt by international firms on the ground,” he concluded.

https://www.voacambodia.com/a/china-pivots-to-europe-for-technology-transfers/4494894.html
 
As far as the crown jewel of all present and future technology, the European Union's semiconductor industry is actually incredibly weak, with a global market share on par with the likes of Taiwan at around 8%. The top three are the United States (51%), South Korea (17%) and Japan (12%).
 
Just a little bit more, and China will do an IJA decision: they will storm the Spratlys, the ASEAN and Taiwan just like the invasion of Manchuria. Then we'll have WW3 on our hands. Yipee!!!
 
Just a little bit more, and China will do an IJA decision: they will storm the Spratlys, the ASEAN and Taiwan just like the invasion of Manchuria. Then we'll have WW3 on our hands. Yipee!!!

Hmn I wonder if there will be a new age "Makapili" (Collaborators) in the Philippines if that happens!
 
China has turned fuckin tail. lol. I love seeing, "to avoid angering Washington/Trump". lol. Paper tigers.
 
China's policy towards American tech was something called block and copy or something like that. They fucked over so many American companies this way. Google for example. They let Google come over to China and show them how their stuff works, then kick them out and copy what they just showed them. And block Google from the country. They are uncreative bottom feeders.
 
A leading Chinese academic known as an advocate of Chinese triumphalism has become a target on social media in recent days, part of a wider kickback against propaganda that exaggerates the country’s strength and achievements.

Professor Hu Angang, author of China in 2020: A New Type of Superpower and director of the centre for China studies at the prestigious Tsinghua University, has come under fire for his suggestion that China has already overtaken the United States as a world leader in terms of economic and technological power.

But after Chinese telecoms giant ZTE came close to ruin after being blackballed by the US, and as tensions continue to rise over trade tariffs, Chinese officials and intellectuals appear to be reviewing their nationalistic stance.

Hu’s argument that China was now more powerful than the US attracted considerable attention earlier in the year, but the criticism has escalated over the past week, with online communities sharing comments and jokes and generally mocking and ridiculing the professor.

In an open letter said to have been written by a group of people who graduated in the 1980s from Tsinghua University – China’s equivalent to the Massachusetts Institute of Technology in the US – the signatories even urged their alma mater’s president, Qiu Yong, to sack Hu for his controversial claims.

Even People’s Daily, the mouthpiece of the Communist Party, joined the chorus of criticism. In a series of three articles published on its website last month, it said that overexaggerated claims made by the media about China’s achievements and strength were “hollow and leave the country open to attack”.

https://www.scmp.com/news/china/pol...-social-media-users-call-sacking-triumphalist
 
China has turned fuckin tail. lol. I love seeing, "to avoid angering Washington/Trump". lol. Paper tigers.

It's past time to bend them over and put the big red, white and blue dick up their ass - blown the fuck open, for real. I've heard and read enough people talking absolute drivel about this glass jawed joke of a country for years now. It's enough.

 
Hmn I wonder if there will be a new age "Makapili" (Collaborators) in the Philippines if that happens!

Of course. They're already here actually, protecting the Chinese drug lords in the penal system. So many Filipinos killed in the drug war, no Chinese casualties.

They're still gathering resources for war. But squeeze 'em too hard, it's not impossible for them to have a casus belli.
 
But soybeans, y'all! Fuckin soy boys like whoa.

The amount of MURICA in this thread is off the charts.

U.S. Oil Vanishing From Chinese Tariffs Reveals America's Clout

The removal of U.S. crude from goods targeted by Chinese tariffs is a sign that America has become too big to ignore in the oil market.

Less than two months after threatening to impose levies on imports of U.S. crude, the world’s biggest oil buyer has now spared the commodity. Only fuels such as diesel, gasoline, propane will be hit with duties on Aug. 23, according to China’s commerce ministry. That’s after the nation’s buyers, including top refiner Sinopec, began shunning American supplies to avoid the risk of tariffs.

China’s original plan to target U.S. crude came at an inopportune time for the country’s buyers. Sinopec’s trading unit, Unipec, was embroiled in a dispute with Saudi Arabia, saying the producer’s prices were costly and cutting purchases just as it was boosting American imports. Two months on, refiners were faced with the risk of supply disruptions from Iran to Venezuela and paying more to take advantage of booming U.S. output.


crude-oil.png


OZY: The US Is Beating China On The Factory Floor. This Is Why.

image.png


What’s behind America’s new place at the front of the pack? It comes down to an ongoing economic boom that some analysts are calling “Manufacturing 4.0” or “Next Manufacturing.” Manufacturers are finding that the total cost of ownership (TCO) favors U.S.-based factory production, explains Harry Moser, founder and president of the Chicago-based Reshoring Initiative, a nonprofit think tank that supports U.S.-based manufacturing.

The domestic energy boom in natural gas and fracking has lowered the cost of materials and operations, prompting more factories to return to U.S. soil. Then there’s proximity to a growing field of local suppliers that provide raw materials. And keeping production in the country means there are no duties and tariffs, reduced inventory carrying costs and R&D innovations on the factory floor aren’t at risk of intellectual property theft. Also, the U.S. doesn’t have to lower its prices or wages to be competitive with China; it needs only “a lower total cost to produce that product,” Moser explains.

But it’s about big data and high-tech innovations, too. Manufacturing is increasingly using predictive capabilities to generate value and create more efficient, lower-cost logistics to handle materials throughout the supply chain. U.S. labor costs are still higher than those of other nations, but the ability to create smart products and smart factories will make this less relevant over time.

There are potential obstacles in the United States’ race to No. 1. For one, the continued strength of the dollar could dampen international sales of U.S. industrial exports. Smart factories need skilled labor, and the number of STEM graduates and “upskilled” workers who have received technical training may not be able to keep pace with demand. What’s not going to be a problem? Robots taking jobs. Thirty-seven percent of U.S. industrialists say their need for skilled labor will actually increase as physical production becomes automated, according to a recent survey by PwC.

Reshoring Initiative Data Report: Reshoring Plus FDI Job Announcements Up 2,800% Since 2010

In 2017 the combined reshoring and related foreign direct investment (FDI) announcements surged, adding over 171,000 jobs in 2017, with an additional 67,000 in revisions to the years 2010 through 2016. This brings the total number of manufacturing jobs brought to the U.S. from offshore to over 576,000 since the manufacturing employment low of 2010. The 171,000 reshoring and FDI job announcements equal 90% of the 189,000 total manufacturing jobs added in 2017. In 2017 announcements of combined Reshoring and FDI jobs were up 122% compared to unrevised 2016 totals and 52% compared to revised 2016 totals.

dr3.png


Made_USA.png


How The US Plans To Replace China As The World's Largest Manufacturer

The United States, the world's second largest manufacturer with a 2017 industrial output reaching a record of approximately $2.2 trillion, will reportedly apply Industry 4.0 technologies to replace China as the world's largest manufacturer. This is what leading research firm Industry 4.0 Market Research reveals in its new report.

The report forecasts that the US Industry 4.0 market will grow at a CAGR of 12.9% during 2016-2023, in hopes of dominating the manufacturing race against China once again. China displaced the United States as the largest manufacturing country in 2010.

In the US, every dollar earned in manufacturing reportedly contributes $1.4 to the economy and for every manufacturing job created, approximately 2 jobs are created in other fields. Therefore, the US considers growth of the manufacturing sector a major success for the economy and is ready to invest considerable budgets to achieve it. It is understood that any efforts to reinvent US manufacturing by leveraging Industry 4.0 technologies to create smart factories will have a substantial impact on US economic growth.

Restoring manufacturing jobs to the United States struggling Rust Belt communities and corporate tax cuts were two of President Donald Trump's biggest campaign promises. It is expected that Trump's administration will follow Obama's Industry 4.0 policy (2011): the formation of the Advanced Manufacturing Partnership (AMP), a national effort bringing together industry and the federal government to invest in Industry 4.0 technologies.

The Industry 4.0 transformation holds immense potential. Smart factories allow individual customer requirements to be met, so that even one-off items can be manufactured profitably. In Industry 4.0, dynamic business and engineering processes enable last-minute changes to production and deliver the ability to respond flexibly to disruptions and failures on behalf of suppliers. With more efficient and optimized production in manufacturing, the entire sector is likely to thrive and rise again as a frontrunner of the US economy.


Oxford Academic: European Paradox or Delusion - Are European Science and Economy Outdated?

The European Union (EU) seems to presume that the mass production of European research papers indicates that Europe is a leading scientific power, and the so-called European paradox of strong science but weak technology is due to inefficiencies in the utilization of this top level European science by European industry. We fundamentally disagree, and will show that Europe lags far behind the USA in the production of important, highly cited research.

We will show that there is a consistent weakening of European science as one ascends the citation scale, with the EU almost twice as effective in the production of minimal impact papers, while the USA is at least twice as effective in the production of very highly cited scientific papers, and garnering Nobel prizes. Only in the highly multinational, collaborative fields of physics and clinical medicine does the EU seem to approach the USA in top scale impact.
 
But soybeans, y'all! Fuckin soy boys like whoa.

The amount of MURICA in this thread is off the charts.

U.S. Oil Vanishing From Chinese Tariffs Reveals America's Clout

The removal of U.S. crude from goods targeted by Chinese tariffs is a sign that America has become too big to ignore in the oil market.

Less than two months after threatening to impose levies on imports of U.S. crude, the world’s biggest oil buyer has now spared the commodity. Only fuels such as diesel, gasoline, propane will be hit with duties on Aug. 23, according to China’s commerce ministry. That’s after the nation’s buyers, including top refiner Sinopec, began shunning American supplies to avoid the risk of tariffs.

China’s original plan to target U.S. crude came at an inopportune time for the country’s buyers. Sinopec’s trading unit, Unipec, was embroiled in a dispute with Saudi Arabia, saying the producer’s prices were costly and cutting purchases just as it was boosting American imports. Two months on, refiners were faced with the risk of supply disruptions from Iran to Venezuela and paying more to take advantage of booming U.S. output.


crude-oil.png


OZY: The US Is Beating China On The Factory Floor. This Is Why.

image.png


What’s behind America’s new place at the front of the pack? It comes down to an ongoing economic boom that some analysts are calling “Manufacturing 4.0” or “Next Manufacturing.” Manufacturers are finding that the total cost of ownership (TCO) favors U.S.-based factory production, explains Harry Moser, founder and president of the Chicago-based Reshoring Initiative, a nonprofit think tank that supports U.S.-based manufacturing.

The domestic energy boom in natural gas and fracking has lowered the cost of materials and operations, prompting more factories to return to U.S. soil. Then there’s proximity to a growing field of local suppliers that provide raw materials. And keeping production in the country means there are no duties and tariffs, reduced inventory carrying costs and R&D innovations on the factory floor aren’t at risk of intellectual property theft. Also, the U.S. doesn’t have to lower its prices or wages to be competitive with China; it needs only “a lower total cost to produce that product,” Moser explains.

But it’s about big data and high-tech innovations, too. Manufacturing is increasingly using predictive capabilities to generate value and create more efficient, lower-cost logistics to handle materials throughout the supply chain. U.S. labor costs are still higher than those of other nations, but the ability to create smart products and smart factories will make this less relevant over time.

There are potential obstacles in the United States’ race to No. 1. For one, the continued strength of the dollar could dampen international sales of U.S. industrial exports. Smart factories need skilled labor, and the number of STEM graduates and “upskilled” workers who have received technical training may not be able to keep pace with demand. What’s not going to be a problem? Robots taking jobs. Thirty-seven percent of U.S. industrialists say their need for skilled labor will actually increase as physical production becomes automated, according to a recent survey by PwC.

Reshoring Initiative Data Report: Reshoring Plus FDI Job Announcements Up 2,800% Since 2010

In 2017 the combined reshoring and related foreign direct investment (FDI) announcements surged, adding over 171,000 jobs in 2017, with an additional 67,000 in revisions to the years 2010 through 2016. This brings the total number of manufacturing jobs brought to the U.S. from offshore to over 576,000 since the manufacturing employment low of 2010. The 171,000 reshoring and FDI job announcements equal 90% of the 189,000 total manufacturing jobs added in 2017. In 2017 announcements of combined Reshoring and FDI jobs were up 122% compared to unrevised 2016 totals and 52% compared to revised 2016 totals.

dr3.png


Made_USA.png


How The US Plans To Replace China As The World's Largest Manufacturer

The United States, the world's second largest manufacturer with a 2017 industrial output reaching a record of approximately $2.2 trillion, will reportedly apply Industry 4.0 technologies to replace China as the world's largest manufacturer. This is what leading research firm Industry 4.0 Market Research reveals in its new report.

The report forecasts that the US Industry 4.0 market will grow at a CAGR of 12.9% during 2016-2023, in hopes of dominating the manufacturing race against China once again. China displaced the United States as the largest manufacturing country in 2010.

In the US, every dollar earned in manufacturing reportedly contributes $1.4 to the economy and for every manufacturing job created, approximately 2 jobs are created in other fields. Therefore, the US considers growth of the manufacturing sector a major success for the economy and is ready to invest considerable budgets to achieve it. It is understood that any efforts to reinvent US manufacturing by leveraging Industry 4.0 technologies to create smart factories will have a substantial impact on US economic growth.

Restoring manufacturing jobs to the United States struggling Rust Belt communities and corporate tax cuts were two of President Donald Trump's biggest campaign promises. It is expected that Trump's administration will follow Obama's Industry 4.0 policy (2011): the formation of the Advanced Manufacturing Partnership (AMP), a national effort bringing together industry and the federal government to invest in Industry 4.0 technologies.

The Industry 4.0 transformation holds immense potential. Smart factories allow individual customer requirements to be met, so that even one-off items can be manufactured profitably. In Industry 4.0, dynamic business and engineering processes enable last-minute changes to production and deliver the ability to respond flexibly to disruptions and failures on behalf of suppliers. With more efficient and optimized production in manufacturing, the entire sector is likely to thrive and rise again as a frontrunner of the US economy.


Oxford Academic: European Paradox or Delusion - Are European Science and Economy Outdated?

The European Union (EU) seems to presume that the mass production of European research papers indicates that Europe is a leading scientific power, and the so-called European paradox of strong science but weak technology is due to inefficiencies in the utilization of this top level European science by European industry. We fundamentally disagree, and will show that Europe lags far behind the USA in the production of important, highly cited research.

We will show that there is a consistent weakening of European science as one ascends the citation scale, with the EU almost twice as effective in the production of minimal impact papers, while the USA is at least twice as effective in the production of very highly cited scientific papers, and garnering Nobel prizes. Only in the highly multinational, collaborative fields of physics and clinical medicine does the EU seem to approach the USA in top scale impact.

Returning manufacturing capabilities into their home country is just basic war prep. I mean, you want a priority resource controlled by your enemy? Duh.
 
Returning manufacturing capabilities into their home country is just basic war prep. I mean, you want a priority resource controlled by your enemy? Duh.

Piority resources in wars tend to be natural, not manufactured in nature, which is irrelevant though, any war threatening to cut the global supply is going to escalate to nuclear and its going to mean the end of civilization.

The main problem with it is after all that there are a lot of "losers" who are being thrown to the curb because government is increasingly legislating only to please the economic elite.

Thats why Trump's trade war is popular and thats why its ultimately futile, the "blue collar factory jobs" aint coming back, you want to work in a factory you better get that engineering degree.
 
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