China wields coronavirus to nationalize American-owned carmaker

[Enthalpic + 1,496]

21 minutes ago, 0R0 said:

Drop the excuses. China is just thieving its way to another trillion dollars worth of other people's R&D. In this instance having the provincial government itself act criminally.

It is theft since he sold his rights to the IP under the conditionality of the contract. They took the IP and patented it in their own name. That is outright criminal theft and fraud, and it was conducted by govt.

There is no possible favorable view of these Chinese official sector actions. They are just outright plain criminal.

I am disappointed at your reflexive defense of the Chinese position and the obviously fake claims. You know better.

Yes, Saleen as is the case with many other US businesses including Tesla was stupid to make a deal with China with an expectation of anything other than being fleeced and all his legal protections evaporating.

As pointed out elsewhere in a China thread, they are preparing for total isolation and taking whatever tech they can put their hands on before they unplug from the world.

 

I am not pro-China., I just think that this was, once again, just a person who signed something he shouldn't have.

Thinking a owner with 70% stake loves you is outright dumb - that kind of fleecing happens everyday in the US.

Edited August 10, 2020 by Enthalpic

[Douglas Buckland + 6,308]

1 hour ago, Yoshiro Kamamura said:

It's not that long ago when European powers wielded smallpox to conveniently depopulate the New World from the original inhabitants. 

Back then, of course, "philosophers" like Juan Ginés de Sepulvéda argued that the natural inability of the indigenous people to ward off these insidious attacks and their inability to defend their territory against the technologically superior arms imported from the Europe made them the "slaves of nature", destined to be ruled by their betters, and that the colonization was therefore the best what could happen to them (being untermenschen and all). 

400+ years before the Angry Moustache Man, yet disturbingly similar conclusion and "justification of convenience of the method". Perhaps there are no new concepts, or perhaps those are just old concepts forgotten long enough. But when a weapon turns against its former wielder, Indians call it "karma". 

And, of course, only those damn white people were involved in this nefarious behavior during the time period you are speaking of.

The world, and warfare, were much different 400+ years ago, and what you are alluding to must be seen within that context.

Putting your superior morality and present day cultural values to conflicts or situations four centuries ago is simply trying to create a false narrative.

Perhaps we should just ‘cancel’ that bit of history...🤔

[Douglas Buckland + 6,308]

1 hour ago, Enthalpic said:

 

I am not pro-China., I just think that this was, once again, just a person who signed something he shouldn't have.

Thinking a owner with 70% stake loves you is outright dumb - that kind of fleecing happens everyday in the US.

Oh, you mean like signing a binding contract? Granted, you probably have a better legal background than this firms army of international business lawyers, so they likely should have given you a call.

Again, I suppose that this ‘fleecing’ you refer to is predominately an American thing...is that accurate? If not, why did you even bother with your second paragraph?

[Douglas Buckland + 6,308]

1 hour ago, Enthalpic said:

 

I am not pro-China., I just think that this was, once again, just a person who signed something he shouldn't have.

Thinking a owner with 70% stake loves you is outright dumb - that kind of fleecing happens everyday in the US.

You may not be ‘pro-China’, but you are definitely ‘anti-American’. This needs to be accounted for when reading your posts and comments.

[0R0 + 6,251]

1 hour ago, Enthalpic said:

 

I am not pro-China., I just think that this was, once again, just a person who signed something he shouldn't have.

Thinking a owner with 70% stake loves you is outright dumb - that kind of fleecing happens everyday in the US.

You got it upside down. The province owned 30%. Saleen and Wong own 70%.

In the US there is fiduciary duty to the minority interest. It is often litigated when it is ignored by the majority shareholder.

When you want to fleece someone you don't buy the equity, you buy the secured debt and call it. You buy equity for fleecing purposes only when it sells for well below book.

[Dan Warnick + 6,100]

7 hours ago, Douglas Buckland said:

Generic chemists are a dime a dozen!

Enthalpic got a chemistry set?

[Dan Warnick + 6,100]

More insight as to how China goes about their business, and how the U.S. and certainly the rest of the world are still not set up to combat their practices.  The following article was written in 2018, but is still relevant today.

How China acquires ‘the crown jewels’ of US technology

-Excerpt-

National security specialists insist that such a stealth transfer of technology through China’s investment practices in the United States is a far more serious problem than the tariff dispute — and a problem hiding in plain sight. A recent Pentagon report bluntly declared: “The U.S. does not have a comprehensive policy or the tools to address this massive technology transfer to China.” It went on to warn that Beijing’s acquisition of top-notch American technology is enabling a “strategic competitor to access the crown jewels of U.S. innovation.”

Some congressional leaders concur. Senate Majority Whip John Cornyn (R-Texas) regularly warns his colleagues that China is using private-sector investments to pilfer American technology. China has “weaponized” its investments in America “in order to vacuum up U.S. industrial capabilities from American companies,” Cornyn said at a January hearing. The goal, he added, is “to turn our own technology and know-how against us in an effort to erase our national security advantage.”

 

[ronwagn + 6,290]

6 hours ago, 0R0 said:

Drop the excuses. China is just thieving its way to another trillion dollars worth of other people's R&D. In this instance having the provincial government itself act criminally.

It is theft since he sold his rights to the IP under the conditionality of the contract. They took the IP and patented it in their own name. That is outright criminal theft and fraud, and it was conducted by govt.

There is no possible favorable view of these Chinese official sector actions. They are just outright plain criminal.

I am disappointed at your reflexive defense of the Chinese position and the obviously fake claims. You know better.

Yes, Saleen as is the case with many other US businesses including Tesla was stupid to make a deal with China with an expectation of anything other than being fleeced and all his legal protections evaporating.

As pointed out elsewhere in a China thread, they are preparing for total isolation and taking whatever tech they can put their hands on before they unplug from the world.

I disagree with the total isolation idea. I think they will gather as many allies as they can around the world, just as we will. Their allies will be weaker nations who want their help. They already have Russia, North Korea, Iran, Cuba, Venezuela, and possibly several others leaning in their direction. They are very expert at buying off leaders in each country including ours. Biden is a prime example. 

https://www.thedailybeast.com/meet-the-us-officials-who-now-lobby-for-china

https://thefederalist.com/2018/08/03/sen-dianne-feinsteins-personal-driver-20-years-chinese-spy/

https://www.nbcnews.com/politics/elections/top-u-s-intel-official-china-wants-trump-defeated-russia-n1236195

[SUZNV + 1,197]

3 hours ago, ronwagn said:

I disagree with the total isolation idea. I think they will gather as many allies as they can around the world, just as we will. Their allies will be weaker nations who want their help. They already have Russia, North Korea, Iran, Cuba, Venezuela, and possibly several others leaning in their direction. They are very expert at buying off leaders in each country including ours. Biden is a prime example. 

https://www.thedailybeast.com/meet-the-us-officials-who-now-lobby-for-china

https://thefederalist.com/2018/08/03/sen-dianne-feinsteins-personal-driver-20-years-chinese-spy/

https://www.nbcnews.com/politics/elections/top-u-s-intel-official-china-wants-trump-defeated-russia-n1236195

These countries got sanction from other countries and China acted as a bridge (similarly like Hongkong is a bridge into China). IMHO, CCP will have to consider the external debt  and loan. If debt side is much much bigger, then it is a good time to pull the plug as the last resort, a kind of declare bankruptcy. For internal debt, CCP will blame its "set back" for the foreign evil force that are jealous of China success but under CCP leadership , China will thrive in next lets say 30 years. The question will be would they risk taking Taiwan with them but because Trump is unpredictable and match any China's bluffs so far, they wouldn't risk it but if it is Biden, it would be much more tempting. The 2 biggest factors now about China are Covid19 consequences and US president election 2020.

@Dan Warnick, I would guess that most of these IP theft behaviors targeted only US businesses or Japan, UK ,EU businesses as well? 

The reason US closed Houston Embassy is believed  that  a defector from Houston Embassy gave current administration evidences that the embassy was using TikTok to organize and fund BLM and anti FA protests. I guess the evidence has to be strong enough because I didn't see mainstream bash Trump much in this matter. I think Trump Administration still want some gap for negotiation as US investment in China were hold as hostages that didn't make a big deal out of it except the executive order to  buy out TikTok share in western countries and banned wechat (kind of news + facebook+amazon in Chinese version, most Chinese use Wechat to connect to friends and relative in China and get news about China from oversea and got supervised by CCP off course).

 

Edited August 10, 2020 by SUZNV

[Eyes Wide Open + 3,555]

16 hours ago, Dan Warnick said:

Incredible.  I had not read about that before.  Thanks for sharing the article.

That indiscretion is plainly seen on the surface there could be by far more implications than meets the eye's.

GM is not only a car mfg they also build the worlds most precise machining technology...bar none. Engine, transmissions, crankshafts etc etc are all machined...and those machines are the worlds finest. 

If China gained access to that tech they would be capable of building any type of project they choose to do. Most think of hi tech as being electronic...tight tolerance high capacity machining is the foundation of any heavy industry be it cars, areospace or the oil industry. That simply means China could build on par with US mfg overnight.

[Enthalpic + 1,496]

26 minutes ago, Eyes Wide Open said:

 

GM is not only a car mfg they also build the worlds most precise machining technology...bar none. Engine, transmissions, crankshafts etc etc are all machined...and those machines are the worlds finest. 

 

B.S. Toyotas live forever.

Your beloved GM needed a bailout because the vehicles are crap.

Your failing Boeing has better machining technology than GM.  How many days since last death?

Edited August 10, 2020 by Enthalpic

[markcutis + 1]

With all due respect, none of this should be surprising. These types of operations may not be routine but foreign owned companies have no real say in China. Why they continued to invest while whining all the way is legend. 

[Dan Warnick + 6,100]

3 hours ago, SUZNV said:

These countries got sanction from other countries and China acted as a bridge (similarly like Hongkong is a bridge into China). IMHO, CCP will have to consider the external debt  and loan. If debt side is much much bigger, then it is a good time to pull the plug as the last resort, a kind of declare bankruptcy. For internal debt, CCP will blame its "set back" for the foreign evil force that are jealous of China success but under CCP leadership , China will thrive in next lets say 30 years. The question will be would they risk taking Taiwan with them but because Trump is unpredictable and match any China's bluffs so far, they wouldn't risk it but if it is Biden, it would be much more tempting. The 2 biggest factors now about China are Covid19 consequences and US president election 2020.

@Dan Warnick, I would guess that most of these IP theft behaviors targeted only US businesses or Japan, UK ,EU businesses as well? 

The reason US closed Houston Embassy is believed  that  a defector from Houston Embassy gave current administration evidences that the embassy was using TikTok to organize and fund BLM and anti FA protests. I guess the evidence has to be strong enough because I didn't see mainstream bash Trump much in this matter. I think Trump Administration still want some gap for negotiation as US investment in China were hold as hostages that didn't make a big deal out of it except the executive order to  buy out TikTok share in western countries and banned wechat (kind of news + facebook+amazon in Chinese version, most Chinese use Wechat to connect to friends and relative in China and get news about China from oversea and got supervised by CCP off course).

 

Hi @SUZNV.  I know that China targeted all of those countries/unions, but I do not know to what level in $$, just that they targeted defense, data and tech.  For the U.S., the losses are calculated as high as $670 Billion/year, every year.

[Dan Warnick + 6,100]

1 hour ago, markcutis said:

With all due respect, none of this should be surprising. These types of operations may not be routine but foreign owned companies have no real say in China. Why they continued to invest while whining all the way is legend. 

The gambling addict's dreams of "I won't be the one to lose everything, I'm smarter and more careful than the others".

That, and the orgasmic dream of selling your widgets into a 1.4 Billion person consumer market.

Got them by the tens of thousands, right up until the pandemic.  But I'd bet my house that some companies are out there right now planning to do just that, for those same reasons (if they were honest about it).

[Strangelovesurfing + 737]

15 hours ago, Yoshiro Kamamura said:

It's not that long ago when European powers wielded smallpox to conveniently depopulate the New World from the original inhabitants. 

Back then, of course, "philosophers" like Juan Ginés de Sepulvéda argued that the natural inability of the indigenous people to ward off these insidious attacks and their inability to defend their territory against the technologically superior arms imported from the Europe made them the "slaves of nature", destined to be ruled by their betters, and that the colonization was therefore the best what could happen to them (being untermenschen and all). 

400+ years before the Angry Moustache Man, yet disturbingly similar conclusion and "justification of convenience of the method". Perhaps there are no new concepts, or perhaps those are just old concepts forgotten long enough. But when a weapon turns against its former wielder, Indians call it "karma". 

Doesn’t your CCP understand it’s just as easy to create bio weapons targeting Han genetics do to ‘narrow’ variations in Han genetics? It might even be simpler. This is a pandoras box no one will be able to control.

[Marcin2 + 726]

15 hours ago, 0R0 said:

 

As pointed out elsewhere in a China thread, they are preparing for total isolation and taking whatever tech they can put their hands on before they unplug from the world.

There are some views that China is preparing , economically , for more fragmented world.

But they would never self isolate. Who isolates himslef is automatically a loser in connected world.

There would be US China decoupling to some extent, and US would coerce all other countries to stop  cooperation with China, with this only partial success possible. Asia is already economically sort of Chinese economic domain No matter how many US  carriers crossing the surrounding oceans.

And China will not react against any US moves. China is against decoupling as cooperation with US still brings high economic benefits but most of all technology benefits, Chinese students and scholars are bringing IP and know how back to Mainland.

 

I watch foreign trade and supply chains this year are much more about China than last year, whereas US loses a lot due to Covid 19.

China would try to acquire as much IP as possible on top of own R&D.

The stake of the game is really high.

Yuan will become 3rd global reserve  currency on par with Dollar and Euro the moment China would  close major tech gaps.

So IC industry game is about trillions.

China plays a very long game:

- closing tech gaps,

- self reliance in all major industries, later dominance due to supply chains, being world factory and effect of the largest consumer market,

- becoming the largest economy,

- yuan 3 rd reserve currency

- 150% of US GDP

- yuan 1st reserve currency

- strongest military

Edited August 10, 2020 by Marcin2
Typo

[Ward Smith + 6,615]

21 hours ago, waltz said:

surprised  you would try to argue such an obviously spurious position.

First time you've interacted with @Enthalpic? Asking for a friend 

[Eyes Wide Open + 3,555]

6 hours ago, Enthalpic said:

B.S. Toyotas live forever.

Your beloved GM needed a bailout because the vehicles are crap.

Your failing Boeing has better machining technology than GM.  How many days since last death?

Im not sure what to do with you, GM machining..machines/lathes actual machining is the worlds finest. As to making cars and your own personal preferences...that is about as subjective as women...or men if it meets your fancy....

For the record i am a Ford guy, i did however get the kids Prius's for campus raiders....hey cheap lease no gas no troubles..Chick cars...LMAO

Edited August 11, 2020 by Eyes Wide Open

[Douglas Buckland + 6,308]

3 hours ago, Marcin2 said:

There are some views that China is preparing , economically , for more fragmented world.

But they would never self isolate. Who isolates himslef is automatically a loser in connected world.

There would be US China decoupling to some extent, and US would coerce all other countries to stop  cooperation with China, with this only partial success possible. Asia is already economically sort of Chinese economic domain No matter how many US  carriers crossing the surrounding oceans.

And China will not react against any US moves. China is against decoupling as cooperation with US still brings high economic benefits but most of all technology benefits, Chinese students and scholars are bringing IP and know how back to Mainland.

 

I watch foreign trade and supply chains this year are much more about China than last year, whereas US loses a lot due to Covid 19.

China would try to acquire as much IP as possible on top of own R&D.

The stake of the game is really high.

Yuan will become 3rd global reserve  currency on par with Dollar and Euro the moment China would  close major tech gaps.

So IC industry game is about trillions.

China plays a very long game:

- closing tech gaps,

- self reliance in all major industries, later dominance due to supply chains, being world factory and effect of the largest consumer market,

- becoming the largest economy,

- yuan 3 rd reserve currency

- 150% of US GDP

- yuan 1st reserve currency

- strongest military

Keep drinking the Kool Aid brother... 

[SUZNV + 1,197]

The more research about this crisis to try modeling the future, I cannot see how any currency can replace USD in 10 years. Any top economy in the world has its own problems.

All of the currencies are FIAT. All of the currencies can be a reserve currency because there is a swap agreement that they can exchange into US dollars (instead of gold). US just stop this swap agreement with China and no one want Yuan (fixed to US exchange rate). If for some  reason none trust USD anymore, then it would be gold. The good indicator for this is gold price at the moment (I know it dropped a lots in last 2 days but it is still highest year for gold so far). 

1 For any currency that can replace US, the first requirement people have to trust that currency reserve/central bank more than Fed. In China Government and Central bank is one so by saying trust the central bank, it is the same as saying trust the CCP more than Fed (not US Government's "money").

Last week BaoShang was  forced into bankruptcy, the first Commercial Bank collapse in China for 20 years (finance assets of US$431 billion).  I know people will compare to Lehman in 2008 but Fed didn't have any obligation for Lehman but BaoShang bank has been take over by CCP regulators last year. And nationalize a private American owned carmaker is certainly not on track on that as well. Or the Hongkong Treaty (will say more later). 

Huawei CEO admitted no longer be able to produce its Kirin chipsets due to US sanctions. This means the top of Chinese chipsets depended on many US technologies to produce and China can no longer access it. Who knows how much time and resources they need to fill up the gap to make similar technologies (most of top technologies required lots of support in different industries). Lot's of Chinese were surprised and don't trust "Made in Vietnam" Samsung S20 because they were brainwashed that you need a high tech manufacture to do so. No, to assembly the phone, it is the manual labor. If they can make it in China, they can make it in anywhere else, a kind of copy and paste.

For some reason even if China decided to issue gold backed currency to be the top reserve currency, it requires others will have to trust that they can exchange Yuan for gold anytime, so again, TRUST.

You cannot TRUST a country simply because it is powerful but the credibility. Who would Trust CCP more than the US?  If it is the case, rich Chinese people don't need to bring their assets oversea to buff many big cities in the world. They didn't trust CCP even if they are/were members of it. 

2 The classic that US has the military power (less risk for a top power to declare war on the US) and can secure the world trade system on sea, petrocurrency bla bla bla.

------------------------

Most of people simply think Qing dynasty rent out HongKong to British Empire and UK had to return it when the lease expire in no condition, but it is much more complicated than that:

Qing dynasty gave Hongkong to UK in the treaty of Nanking (1842).

Similarly Qing dynasty gave Kowloon to UK in the Convention of Peking (1860).

The 100 years lease contract between Qing and UK was only the "New Territory" Area (1898).

All of the territories above merged into current Hongkong. In International treaty, CCP obligated to any inherited Treaty under Qing Dynasty. 

In 1984 Margaret Thatcher met Deng Xiao Ping, UK gave Hongkong and Kowloon back alongside with the New Territory lease expired in 1997 to have Hongkong would reserve its condition in 50 years. Currently only 23 years and the new Hongkong security law is as good as violate the agreement.

--------------------------------------

Anything I know, CCP know. All of the great Objectives are common so people will follow CCP leadership, giving hope and proud generation to generation(I grew up with empty slogans and promises), and set up trap for fund/IP from oversea by 1.4  billion population market. What else could they do? They worry about that 1.4 billions will reject their leadership more than worry about US.

Edited August 11, 2020 by SUZNV

[Marcin2 + 726]

13 hours ago, Douglas Buckland said:

Keep drinking the Kool Aid brother... 

It would be fantastic if you would be right , but Please Bring any arguments : why China would stop or fail to succesfully execute its hegemony plan ? They are 1 inch closer every month.

[Marcin2 + 726]

1 hour ago, SUZNV said:

The more research about this crisis to try modeling the future, I cannot see how any currency can replace USD in 10 years. Any top economy in the world has its own problems.

All of the currencies are FIAT. All of the currencies can be a reserve currency because there is a swap agreement that they can exchange into US dollars (instead of gold). US just stop this swap agreement with China and no one want Yuan (fixed to US exchange rate). If for some  reason none trust USD anymore, then it would be gold. The good indicator for this is gold price at the moment (I know it dropped a lots in last 2 days but it is still highest year for gold so far). 

1 For any currency that can replace US, the first requirement people have to trust that currency reserve/central bank more than Fed. In China Government and Central bank is one so by saying trust the central bank, it is the same as saying trust the CCP more than Fed (not US Government's "money").

Last week BaoShang was  forced into bankruptcy, the first Commercial Bank collapse in China for 20 years (finance assets of US$431 billion).  I know people will compare to Lehman in 2008 but Fed didn't have any obligation for Lehman but BaoShang bank has been take over by CCP regulators last year. And nationalize a private American owned carmaker is certainly not on track on that as well. Or the Hongkong Treaty (will say more later). 

Huawei CEO admitted no longer be able to produce its Kirin chipsets due to US sanctions. This means the top of Chinese chipsets depended on many US technologies to produce and China can no longer access it. Who knows how much time and resources they need to fill up the gap to make similar technologies (most of top technologies required lots of support in different industries). Lot's of Chinese were surprised and don't trust "Made in Vietnam" Samsung S20 because they were brainwashed that you need a high tech manufacture to do so. No, to assembly the phone, it is the manual labor. If they can make it in China, they can make it in anywhere else, a kind of copy and paste.

For some reason even if China decided to issue gold backed currency to be the top reserve currency, it requires others will have to trust that they can exchange Yuan for gold anytime, so again, TRUST.

You cannot TRUST a country simply because it is powerful but the credibility. Who would Trust CCP more than the US?  If it is the case, rich Chinese people don't need to bring their assets oversea to buff many big cities in the world. They didn't trust CCP even if they are/were members of it. 

2 The classic that US has the military power (less risk for a top power to declare war on the US) and can secure the world trade system on sea, petrocurrency bla bla bla.

------------------------

Most of people simply think Qing dynasty rent out HongKong to British Empire and UK had to return it when the lease expire in no condition, but it is much more complicated than that:

Qing dynasty gave Hongkong to UK in the treaty of Nanking (1842).

Similarly Qing dynasty gave Kowloon to UK in the Convention of Peking (1860).

The 100 years lease contract between Qing and UK was only the "New Territory" Area (1898).

All of the territories above merged into current Hongkong. In International treaty, CCP obligated to any inherited Treaty under Qing Dynasty. 

In 1984 Margaret Thatcher met Deng Xiao Ping, UK gave Hongkong and Kowloon back alongside with the New Territory lease expired in 1997 to have Hongkong would reserve its condition in 50 years. Currently only 23 years and the new Hongkong security law is as good as violate the agreement.

--------------------------------------

Anything I know, CCP know. All of the great Objectives are common so people will follow CCP leadership, giving hope and proud generation to generation(I grew up with empty slogans and promises), and set up trap for fund/IP from oversea by 1.4  billion population market. What else could they do? They worry about that 1.4 billions will reject their leadership more than worry about US.

Strength of any currency historically is based on what is behind it , it is only in small part because people trust it.

So you need :

- military

- technology

- economy.

In next 10 years dollar and euro would rule.

Later I think there would be triumvirate with yuan added.

[Ward Smith + 6,615]

16 minutes ago, Marcin2 said:

Strength of any currency historically is based on what is behind it , it is only in small part because people trust it.

So you need :

- military

- technology

- economy.

In next 10 years dollar and euro would rule.

Later I think there would be triumvirate with yuan added.

Given the strength of the US military, the dollar collapse will have to come from within. Fortunately for China, the useful idiots are backing them 100% in this endeavor. Unfortunately for the world, China will continue her bad habits once the renminbi joins the world reserve currency stage. 

@0R0 has spelled this out multiple times. Something like 70% of US currency is outside the US. Why is that? It's because countries need dollars to do business with each other.  This started with Bretton Woods but got amped up by Kissinger's petrodollar scheme. One thing keeping the dollar artificially high is this constant sucking sound from all those countries buying dollars to pay each other off. 

[SUZNV + 1,197]

29 minutes ago, Marcin2 said:

Strength of any currency historically is based on what is behind it , it is only in small part because people trust it.

So you need :

- military

- technology

- economy.

In next 10 years dollar and euro would rule.

Later I think there would be triumvirate with yuan added.

These military, technology and economy are the few of many faces of TRUST. No one know how a war on any of these parts will be ended. They trust that their guess would be right and avoid a pyrrhic victory.

People have to trust that you won't trash your currency to save your economy when you are trouble and bring the world savings or loan with it. US indirectly anchor in petrol and other central banks using their US reserve instead of gold for their "money printing". The money printing got to be anchor to something and in this case, USD.

As @0R0 explained,  a large proportion of dollars on the world are not from the Fed but Eurodollar. For example an EU bank got deposited with USD as 20% and lend out 80%, this is how USD printed not by Fed. The bank earned the interest, in USD, the money printing shrank when the debt is fully paid by USD. The problem most of the debt are not coming back but keep consolidating make a virtual large demand of USD and Fed has to print money to match or USD will be sky high. China did the same thing as well. So unless every debt in USD would be paid in full or reset, the moment US stop printing money will lead to a series of bankruptcy world wide because USD was too expensive for borrowers to pay back the debt.  Most of the central banks' interest rates is 0-0.25% mean there is not much room for adjusting except money printing. 

If it is a competing about currency, there should be some currency got much stronger on the world now, not gold. But most of the exchange rates seems stable except the week when US dollar suddenly got much value.

[SUZNV + 1,197]

Instead of everyone working hard (time) and  increasing efficiency/productivity, reduce government regulations, departments, the whole world constantly shift left and social welfare (higher tax, bigger government), even in the US or advocating for the regime that have both big governments intervention and corruption(cheap labors countries have a good start but not in the long run). People will not put more risk for less return. In capitalism, inefficiency will lead to world economy collapse or war. The balance should be left right left right for every country.

When I say tax , I mean every kind of tax

https://en.wikipedia.org/wiki/List_of_countries_by_tax_rates

Currently most  governments do are shifting around these taxes for elections and  gradually increase them or shifting the burden of taxes to other countries. instead of focus on efficiency or less regulation and less bureaucracy.

US, as a whole image, shoulders most of the blame and underappreciated from most governments around the globe for their political gain and even among US politicians or citizens, a kind of rebating just like some ancestors owned slaves and some ancestors were slaves. The contrast would be China, got much less blame and more "understanding" and defending and praise before Covid19 despise of much lower standard. I wonder why is that? The world take one side for granted and seduce the other side.

It includes my born country.

Edited August 11, 2020 by SUZNV