Drudge Retort: The Other Side of the News
Tuesday, September 10, 2019

China will win the trade war with the U.S., and eventually wean itself off its reliance on American technology, a strategist told CNBC on Monday.

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China is reportedly surveying its tech companies to gauge their exposure to American suppliers, and also ramping up development in its own tech industry.

For instance, it is developing its own chip industry. Under the government-led Made in China 2025 initiative, the country aims to produce 40% of its semiconductors by 2020, and 70% by 2025.

Currently, only 16% of the semiconductors used in China are produced domestically.

In short, China is going to come out on top. They are on the right trajectory.

#1 | Posted by J_Tremain at 2019-09-10 08:12 AM | Reply | Funny: 1

Read their plan. It endorses stealing tech. Nobody should trust China.

www.cfr.org

#2 | Posted by MUSTANG at 2019-09-10 08:28 AM | Reply | Newsworthy 2

China has come up with an original tech idea in 2000 years. They are dependent on the U.S.

This trade war is exposing this.

#3 | Posted by boaz at 2019-09-10 09:49 AM | Reply

#3 | POSTED BY BOAZ

No, there have numbers ... them and India will surpass the US in short order.

#4 | Posted by AndreaMackris at 2019-09-10 09:52 AM | Reply | Funny: 1

They are dependent on the U.S.

Read the article you dumb %$&#.....

#5 | Posted by J_Tremain at 2019-09-10 10:20 AM | Reply

youtu.be

LOL!

You were saying???

#6 | Posted by J_Tremain at 2019-09-10 10:29 AM | Reply

Prudent.

#7 | Posted by fresno500 at 2019-09-10 11:30 AM | Reply

That is funny.

#8 | Posted by Sniper at 2019-09-10 02:12 PM | Reply

Cult leader Elon Musk goes groveling for cash in China.

townhall.com

#9 | Posted by nullifidian at 2019-09-10 02:16 PM | Reply

"Cult leader Elon Musk goes groveling for cash in China."

Do other cases of Musk Derangement Syndrome exist in the wild, or do we need to quarantine Nullifidian and study this one?

#10 | Posted by snoofy at 2019-09-10 02:18 PM | Reply | Funny: 1

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Tesla is perfect for China. Currently 41.7% of manufacturing POs are unpaid and increasing. Structural bankruptcy takes longer to play out if you just don't pay people.

#11 | Posted by sitzkrieg at 2019-09-11 08:59 AM | Reply

Meanwhile, back at the ranch:

"The American Chamber of Commerce in Shanghai said Wednesday U.S. companies are steering business away from China at an increasing rate amid the escalating trade war between Washington and Beijing.

More than a quarter (26.5 percent) of the 333 respondents to AmCham's annual survey said they have redirected investment away from China over the past year, up 6.9 percentage points from 2018. Technology, hardware, software and services companies (40 percent), industrial manufacturing (37.1 percent) and chemicals (36.7 percent) were the most likely to look elsewhere."

Read the entire article here -- www.foxbusiness.com

#12 | Posted by MSgt at 2019-09-11 10:14 AM | Reply

@#2 ... Read their plan. It endorses stealing tech. Nobody should trust China. ...

Oddly, the one part of the trade negotiations with China that produced an agreement was the part abut China ceasing its theft of technology.

However, the "nothing is agreed upon until all is agreed upon" aegis of the talks has negated that part of the agreement, unless the talks resume and reach an overall agreement.

#13 | Posted by LampLighter at 2019-09-11 11:40 AM | Reply

@#12 ... More than a quarter (26.5 percent) of the 333 respondents to AmCham's annual survey said they have redirected investment away from China over the past year ...

They're still not bringing the investment (and jobs) back to the United States, as Pres Trump has said was his goal when he started this "easy to win" tariff war.

Currently, Southeast Asia seems to be a big beneficiary of the move away from China.

#14 | Posted by LampLighter at 2019-09-11 11:43 AM | Reply

China can't feed itself. Technology is the least of their problems in the trade war, which is why they will lose.

#15 | Posted by Ben_Berkkake at 2019-09-11 11:59 AM | Reply

@#15 ... China can't feed itself. ...

China should continue using food imports as chip in US trade talks, says former leading agriculture negotiator
www.scmp.com

..."China must have a globalised food and agriculture strategy. Modernising the food safety management of the country is the basic pillar for us in coping with or controlling changes," said Cheng [Guoqiang, who was part of China's agriculture negotiations team that led to the country joining the World Organisation in 2001]....

It looks as if China knows that quite well, and appears to be removing itself from a reliance upon US farm goods. imo, it may take a while for China to accomplish that task, though.

#16 | Posted by LampLighter at 2019-09-11 12:20 PM | Reply

Meanwhile, back at the ranch:
"The American Chamber of Commerce in Shanghai said Wednesday U.S. companies are steering business away from China at an increasing rate amid the escalating trade war between Washington and Beijing.
More than a quarter (26.5 percent) of the 333 respondents to AmCham's annual survey said they have redirected investment away from China over the past year, up 6.9 percentage points from 2018. Technology, hardware, software and services companies (40 percent), industrial manufacturing (37.1 percent) and chemicals (36.7 percent) were the most likely to look elsewhere."
Read the entire article here -- www.foxbusiness.com

#12 | POSTED BY MSGT

Yes, and?

#17 | Posted by Sycophant at 2019-09-11 01:07 PM | Reply

So until then the keep stealing it?

#18 | Posted by goatman at 2019-09-11 04:37 PM | Reply

So until then the keep stealing it?
#18 | POSTED BY GOATMAN

I bet that's part of the concession in an eventual tariff deal.


U.S.: We'll negotiate an end to the trade war only if you agree to stop stealing our technology.
CHINA: Okay, but it will require a systematic deconstruction that will take approximately seven years.
U.S.: Good enough for me.

www.theartofthetradewar.gov

#19 | Posted by rstybeach11 at 2019-09-11 04:41 PM | Reply

It looks as if China knows that quite well, and appears to be removing itself from a reliance upon US farm goods. imo, it may take a while for China to accomplish that task, though.
#16 | POSTED BY LAMPLIGHTER

First, China has a current account deficit starting in 2018 and their banking systems is already bankrupt - the RMB does not have global legitimacy because the Chinese are not transparent on their scale of money printing (which is massive) and their entire 'trade surplus' is the result of US exports. If the US scales back even a little, the trade surplus disappears and, more importantly, the US dollars with it which the Chinese need to settle trades with other countries. This is critical as this will force the Chinese to do more market exchanges to buy USD for RMB and will touch off the currency collapse for the RMB. At the end of the day, China does not have true hard currency - it is all credit based on RMB money printing. The collapse of the RMB will make feeding their people impossible as the prices skyrocket.

This is not a question of IF - it is a question of WHEN....and Trump is making that day very close to happening.

#20 | Posted by iragoldberg at 2019-09-11 11:55 PM | Reply

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