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Are you saying China hasn't been ramping up their in house tech for the past 20 years? And that, as a result of Trump, that they are NOW going to start investing in tech?
5G, AI, solar, etc... These are not things from Trump's time in office.
No they haven't. China has been investing in new tech like 5G and solar (where the US is not as advanced as we should be), but way less in old tech like semiconductors and machinery (where US is literally leading by miles). The strategy is obvious - concentrate on areas where US is weak and avoid technology where US is a heavyweight.
Quite literally soon after the trade war started, Beijing started to voice concern over their reliance on foreign semiconductors. And then in 2019 they announced they want to produce at least 40% of their own semiconductors by 2020(!), up from around 15%. They literally said out of the blue, "We have to increase our production by almost 200% in a year!!!"; when they know full well this is not in any way a realistic goal. Why? There is only one answer: the trade war.
To be fair, this is an expensive goal. China basically has to burn lots of money to catch up. But the thing is China is probably the only country that is rich enough, crazy enough, and Type A enough to make it happen. When it does, we'd have basically lost a huge market and got a fierce competitor.
A trade deal? Does that mean socialism for the Midwestern farmer is over? Or will Trump keep taking my tax dollars to prop up his boneheaded decisions?
Here we have a guy who had literally lost more money over a 10 year period than any other American, negotiating trade deals.
This is an unnecessary risky move that could backfire catastrophically. The thing is, Trump and his dimwit supporters have zero idea what they've done.
We've been keeping China in check with our supply of technology. But to force China to buy some farm products we made them realize just how dependent they are on US tech. Words out of China is that they are going to move heaven and earth to develop their own semi-conductors, chips, planes, heavy machinery, etc.
Will they succeed overnight? Probably not. But they have a good track record with technology; over the long run, if China becomes self sufficient and stop buying our tech, it's going to be a huge blow to our economy.
But of course, right-wingers in red states don't care about that. They probably think semiconductors are trucks that blast opera music.
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Real talk. (Semiconductors……Gold Jerry, Gold!)
Quote:
Originally Posted by Ponderosa
Trump tossed in the towel - surrendered to the Chinese. This deal is not any kind of deal just a truce on tariffs. But it's good, because his idiotic trade war was taking a global toll and a recession was all but certain. He had little choice.
A little more effort next time, if you want to prove some kind of a point.
He made his point, and he didn't need to prattle on, because it was obvious to the reality based community.
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