Chinese markets plunge more than 5% as US-China trade tensions escalate

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(23-05-2019, 01:31 PM)bmann025 Wrote: Trump's former adviser Steve Bannon thinks, taking out Huawei is "10 times more important" than a trade deal.

So here we have the real battleground.

Huawei's technology is 2-3 years ahead of the US pack and threatens US tech monopolies and oligopolies. And despite so many clever Chinese people now working and inventing in Silicone Valley, the gap appears to broaden.

On the other side, the US has lost its moral credit among a significant part of the world's population for its catastrophic wars in the last 2 decades. These people want to have an alternative to google, facebook, twitter, microsoft, amazon and mainstream media.

Huawei got most of its tech via many acquisitions of networking companies globally and technology transfers locally.
for eg. in 2011 bought out the half  share of Huawei Symantec for 530 million [Hong Kong-based joint venture established by Huawei and Symantec in 2008]

Why would Symantec want to sell out a profitable business expansion into China? Obviously it was lured to bring technology into China then kena takeover just a few years later

That's what pissing off the Americans. 

The main reason why most nations were getting 5G from them is the cost factor. 

anyways this is also a good read,
A Robot Named 'Tappy': Huawei Conspired To Steal T-Mobile's Trade Secrets, Says DOJ
[Meanwhile, Huawei China was reportedly trying to build its own device-testing robot — named, less cutely, "xDeviceRobot" — and it was not finding much success. And Huawei's devices weren't faring well on T-Mobile's Tappy tests, failing more often than devices made by competitors.]
[A civil lawsuit over the Tappy incident awarded T-Mobile $4.8 million in damages in 2017, The Associated Press reports. "Huawei said in an emailed statement Tuesday that it denies any violations of U.S. law, and that the Tappy allegations were already a settled matter between it and T-Mobile," according to the AP. Huawei now faces ten counts in federal court: conspiracy to steal trade secrets, attempted theft of trade secrets, seven counts of wire fraud, and obstruction of justice.]
[[font=Georgia, serif]In July 2013, even as it argued that the Tappy incident was the result of a couple rogue employees, Huawei China launched a formal policy of awarding bonuses to employees who stole confidential information from competitors. It emphasized, the indictment says, "that no employees would be punished for taking actions in accordance to the policy."][/font]
Nowadays any tech advances == big money.

Unfortunately China will never respect IP. It still needs to copycat to advance. Hence it will never agree to the main trade deal request of implementing IP laws.
Virtual currencies are worth virtually nothing.
Unfortunately, other countries break IP laws and do industrial espionage as well.

With the US 'owning the internet', and (as revealed by wikileaks) all these backdoors in oligopolist software and hardware (but zero reported in Huawei products so far), they have ability and access like no other player to target anyone. Huawei is now possibly the most interesting target on the planet.

Here is a telling example, how the US NSA utilized the German secret service like a subsidiary to spy on European defence companies for them. That is big boys espionage and a different league everyone else plays:

The US intention is to protect their own monopolies at any cost. Doesn't matter, if Huawei did something wrong or not, the US (rightly) fears, that in free and open markets, Chinese competitors would sooner or later break or even replace these monopolies, just because they are better.

Apart from this, there is much more troubling conduct, often (but not always) for economical advantage, such as breaking agreements, e.g. WTO rules by randomly declaring car imports or whatever a 'national security issues', meddling in other countries political system & media, censoring, producing fake news, sanctioning, threatening or even destroying countries, and pressuring 3rd parties to join in bullying. Notice, there are often international organisations involved, but not one of these has ever sanctioned the misconduct

That is why so many people wish to have an alternative to google, facebook etc.

Just last week brought another delusion about 'our' values, political system and media you most likely did not even notice:

A whistleblower at the OPCW (UN Chemical Weapons Inspectors) leaked an inspection report about the 'chemical weapons attack' in Douma, Syria. That report totally rejected what was told by the US and the OPCW as well, that 2 chlorine cylinders may have been dropped from an aircraft. The 'attack' was staged.

Even more worrying than the OPCW failing in the only task it was created for, was the media response:

Apart from Peter Hitchens, to my knowledge not a single western MSM outlet reported about this scandal, arguably one of the biggest in UN history. Did you read about it in your newspaper?
U.S.-China Trade War: The New Long March
You can find more of my postings in
Huawei’s Yearslong Rise Is Littered With Accusations of Theft and Dubious Ethics
You can find more of my postings in
More world news (though often unreported) - suggesting, there will be no lasting trade deal

Last week roundup from the rule based free world:

1 After signing new trade deal with Mexiko:Trump Says U.S. Will Hit Mexico With 5% Tariffs on All Goods

2 Foreign journalist faces 175 years in U.S. prison

3 Humanitarian charged with felony for giving migrants water

4 Supreme Court to decide if Border Patrol can kill kids in other countries

5 President might pardon soldiers who murdered civilians

6 Assange a victim of torture and Australia shares blame, says UN expert
Julian Assange has been subjected to intense psychological torture comparable to some of the gravest cases from “interrogation prisons” around the world, a United Nations expert says. He accuses the UK, US and Sweden of a “consistent failure” to protect Assange’s human rights – and Australia of a “glaring absence” where it should be helping one of its citizens.

7 UN Rapporteur Nils Melzer‏ @NilsMelzer
“For the record: On 31 May, I have also given similar exclusive TV interviews to both @SkyNews and @BBCWorld on #JulianAssange but it seems they decided not to broadcast them.”

8 Charles Shoebridge: “When US sought extradition of Assange, US UK govts and media insisted 5 years would be his maximum sentence. Now, US unveils 17 new charges for which he reportedly faces 175 years in prison, and which directly challenge the rights of journalists everywhere”

9 Amnesty International declares Julian Assange “not a prisoner of conscience”
Fits well in record of stoking wars in Iraq, Libya and Syria:

10 France Threatens Journalists With Prison for Exposing Its Role in Saudi War on Yemen

11 Malaysia PM accuses the MH17 inquire of not allowing Malaysia to see crucial evidence (including their the flight recorder of their own airplane, Ukrainian radar and US surveillance data)

12 Edward Snowden via livestream at Dalhousie University, Halifax, Canada
‘Unlimited reach, no safeguards’:
Snowden warns of greatest social control scheme in history "And now these institutions, which are both commercial and governmental... have structuralized and entrenched it to where it has become now the most effective means of social control in the history of our species."

13 Continuing silence about suppressed OPCW report which concluded Douma chlorine gas cylinders where likely not delivered by aircraft but manually placed.

14 Trump administration increases supply of military equipment to what Bush/Obama/Trump security adviser Brett McGurk called the largest concentration of Al Qaeda since (and including) 9/11.

15 US asking allies to support securing territory occupied in North-East Syria including Syria's main oil and gas wells. Possible cradle of a Kurdish state, erected on mostly Syrian Arab/Christian lands, will guarantee continuation of region's destabilization.
Arghhh.... Protests again.

That extradition law was probably rather unnecessary, but could it be now utilized for another twist and weapon in the trade war?

The NED may have hands in again:

The Great Robert Parry's consortiumnews had a splendid article about that "quango":

PS. in unrelated news from the free West, the British people may only be allowed to elect a Prime Minister, which is approved by a certain Mike Pompeo:
Mike Pompeo Threatens To Intervene In British Democracy To Stop Corbyn Becoming Prime Minister
The week in trade news:

US sanctions India. Among reasons, India intends to buy oil and defence equipment from wrong countries.

Welcome to the Social Credit System US 1.0

New trade rule with Venezuela: we need points on scoreboard

NYT "U.S. Escalates Online Attacks on Russia’s Power Grid," supposedly because Russia is cyberactive, an expert revealed at the Council on Foreign Relations this month that US cyberactivity is 90% offensive and only 10% defensive.

Intended or unintended consequences of total economic war against Iran:
"Trump administration providing ‘false’ information about Gulf of Oman attack, says Japanese tanker owner"
U.S. Escalates Online Attacks on Russia’s Power Grid

Two administration officials said they believed Mr. Trump had not been briefed in any detail about the steps to place “implants” — software code that can be used for surveillance or attack — inside the Russian grid.
Pentagon and intelligence officials described broad hesitation to go into detail with Mr. Trump about operations against Russia for concern over his reaction — and the possibility that he might countermand it or discuss it with foreign officials ...
The U.S. Is Purging Chinese Cancer Researchers From Top Institutions

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