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President Trump Pledges To Help China's ZTE, After Ban (usatoday.com)
President Trump said Sunday that he and Chinese President Xi Jinping are working to put the troubled Chinese telecom manufacturer ZTE back in business. From a report: "President Xi of China, and I, are working together to give massive Chinese phone company, ZTE, a way to get back into business, fast," Trump said in a message on Twitter. "Too many jobs in China lost. Commerce Department has been instructed to get it done!" ZTE, maker of Android phones popular with budget-minded consumers, said Wednesday that it would cease "major operating activities," raising questions not only about its survival, but the impact on U.S. consumers who have previously bought or were thinking of buying ZTE phones. The announcement followed a decision last month by the U.S. Commerce Department, which banned American companies from exporting products to the Shenzhen, China-based telecom firm for seven years.
Really, how does this help America? It only makes me suspicious that Trump or some of his buddies want to swoop in and get the stock for pennies on the dollar.
Literally, What The Fuck?!!! He's a fucking buffoon with no coherent plan for anything.
...JOBS, JOBS, JOBS! He just didn't mention that they would be Chinese jobs.
Making up excuse to punish ZTE in the first place. And now making up excuse to back down failing to get more from negotiation.
...specifically, the routing numbers for Michael Cohen's checking account~
But seriously, did any money have to change hands, or is this just Trump showing his admiration for Xi's continuing march towards tyranny?
~ C.
ZTE had been a major international producer long before entering the US market. I doubt elimination from the US market makes it insolvent by any means. Whereas the US market may have possibly been the most profitable, they didn't play nice and got kicked off the playground. Boohoo, wake up, they're just another arm of the party.
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ZTE repeatedly violated the US sanctions against Iran, and lied to the government while in remediation. Now that the US has broken it's international agreement w/Iran & is threatening sanctions against our global partners who were also part of the agreement, the only logical 5d chess move is to get ZTE back in the business of selling security-compromised devices to Americans. Using the Dept of Commerce, paid for by American tax dollars.
I would be shocked if this was a backroom quid pro quo deal with China to expand the Trump brand business interests. Shocked I say.
tl;dr Jobs Jobs Jobs!
This has backroom deal written all over it, although I am not sure why Putin wants ZTE propped up.
Trump is not draining the swamp, he is drinking from the swamp.
the rampant corruption, the back pedaling on all his campaign promises (backed down on Carrier, supports Guest Worker programs & TPP, just gave Big Pharma a big present, filled his cabinet with Goldman Sach's folks that embody the swamp... I could go on) or the fact that no matter what his poll #s don't budge from 38-40%.
The first year of this crap I could chalk up to the news cycle catching up with folks who don't watch politics. But at this point folks are sticking with him out of either stubbornness or a desire to see those "coastal elites" mad. That's some mighty fine face spiting right there, Lou.
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Let me be clear - I do not agree with Trump’s short-sighted and backwards-thinking trade war. But isn’t the whole point of a trade war to put the hurt on the companies and consumers based in the other country, which increases the pressure on the other government to make concessions?
Trump is basically giving away his leverage - so instead of both countries being hurt by the trade war, now it’s Americans who’ll take the brunt of the pain. Good job, “master” deal maker.
#DeleteChrome
"When there’s a detour because of road construction, do you continue to drive straight ahead at full speed, mowing down the road crew, because that was your original plan?"
You do if the whole point of driving by the detour was to smash into the road crew.
These sanctions were supposed to have the effect they are having on ZTE. They were supposed to hurt them a lot. Now he's reversing course because the sanctions actually worked? What type of example is that supposed to set for the future? "Sure, the US might put crippling sanctions on us over our actions but if we apologize they'll make it all better!"
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Where is the insight in that tiny bit of fluff? There is an obvious peculiarity here: "Trump says America first, but NOT if it will hurt ZTE!" Not that the lie or self-contraindication is peculiar as regards Trump. The peculiar question is "Why?" Two obvious answer candidates:
(1) Trump is begging Xi to lean on little Kim Jong-Un to play nice next month. I do think Kim is insane, but not nearly insane enough to trust Trump, and it is possible that Trump realizes how embarrassing this fiasco could become. Libya model indeed.
(2) Someone is making money on this scam. Who did Trump telephone about this course reversal? Hint: Look for "sharp" investors who suddenly bought up a bunch of ZTE shares. In this case, we're back to the question of whether or not Trump got his own beak wet.
Actually reminds me of the ongoing Cohen fiasco. Was Cohen keeping all the loot, or was he kicking some back to Trump? In either case, it's going to be really hard to pardon him (which means Cohen is going to flip and drag ALL of Trump's skeletons out of the closet).
Freedom = (Meaningful - Coerced) Choice != (Speech | Beer^2), and sad sock puppets' bad mods avail them naught.
Maybe this is a brilliant move to show China that the US can win a trade war. He found an opportunity to bring a bring Chinese company to the edge of disaster, then calls up his counterparts in the Chinese government and says "Ya know, I *could* save ZTE, and those of us in the know could make a lot of money now that the stock sank, but here's what I want in return..."
Hint: Look for "sharp" investors who suddenly bought up a bunch of ZTE shares. In this case, we're back to the question of whether or not Trump got his own beak wet.
ZTE stock has not traded since April 17th, when the ban was announced.
Also, you should grow up and stop making up stories.
I still think Trump's primary focus (and desperate hope) is to get Xi to lean on Kim. I read Trump as desperate to get something out of the June 12th meeting, but the most likely scenario is that Kim is teeing Trump up for a YUGE punt. Actually, Trump already defined a game of reverse chicken, by claiming he will "win" by walking out if he can't get what he wants. Under the terms of Trump's own game, I'm expecting Kim to walk out first and claim the win. China's next response to Trump will go along the lines of "Tut, tut, tut, Little Donald. Let's not do anything rash."
That's predicated on the theory that China basically likes things as they are now. I think China sees a strong and unified Korea as a probable nuisance and possible threat. Unless China sees some substantial advantage in an actual peace treaty, they might as well leave things as they are. Meanwhile Bolton keeps braying about the "Libya model" and Kim knows exactly how that one worked out. No sane dictator would give up his nukes to follow Qaddafi's lead.
My reasoning certainly could be flawed. I actually expected China to make a move before this. I figured the Chinese would offer Trump a deal of North Korea for Taiwan. I still think China is confident that they can integrate Taiwan with little problem and enormous profit, while South Korea would be kept busy for decades trying to heal and integrate North Korea. The lack of official peace in Korea has been mostly harmless, but the establishment of an independent Taiwan would really piss them off.
However the troll did raise an interesting point regarding the insider trading, though I certainly can't take it on his say so. So how else could smart insiders profit from their phone calls with Trump if they don't want to be so obvious as playing with ZTE? Future contracts? Gambles on related companies, both suppliers and customers?
Freedom = (Meaningful - Coerced) Choice != (Speech | Beer^2), and sad sock puppets' bad mods avail them naught.
Given China lackluster record in "integrating" the hearts and minds of the Hong Kong residents, who were basically tossed to the wolves by the British after 99 years of dutifully generated revenues for the British Empire. Despite some last minute electoral reforms by the British prior to the 1997 hand over to China, Hong Kong was basically a colonial subject of the Crown without a tradition of electing its own executives.
Taiwan, on the other hand, thanks to continuous US intervention since WWII, has blossomed into a fractious democracy, along with the requisite shares of protests, counter-protesters, counter-counter-protests.... and etc. Streets protest is almost a national past time, enjoyed by all demographic, from the young to the old, regardless of sexual orientation, or ethnic origin. Not to mentioned that unlike Hong Kong, Taiwan has its own military.
Whether or not Taiwan's military that is being rapidly eclipsed by the Chinese military can hold its own against the Chinese is a vexing question for the island residents. However, the strategic value of loosing Taiwan to China mean loosing our pave paws radar in Taiwan, loosing our first island of defense against China and allowing China to control the sea lane that connects Japan and Korea to the half the world and their oil supply.
Taiwan also has a fairly globalized semiconductor sector. Any disruption will be felt across the world. Any damage to Taiwan's infrastructure means rapid price inflation for anything good with semiconductor inside. Fab equipment aren't usually the type people can buy in quantities immediately.
Given the rise of authoritarian China, the long term strategic and short term financial importance of a democratic Taiwan to people who enjoy free speech, especially in the digital medium, cannot be overstated.
Sadly, to our smarter-than-thou president, it's all tl;dr. He is just happy to have found his NK mini-me.
SAD . . .
So this means as a company you can break trade embargoes, then whine loud enough, and then Trump will bail you out? Why bother with laws and abiding to them if they become utterly meaningless under this president?