So bazbot.
You have an Apple phone.
What TV you have?
Laptop?
All the major pharma companies buy their advanced intermediates from China and get them processed in India. They may do the last 2/3 steps of the synthesis in their own facilties.
LG and Samsung.
India also a cheap workshop, itâs globalisation, nice if thereâs innovation itâs a different matter altogether.
The brightest minds tend to move to the west, money and freedoms are a great enticer.
Right off to bed now gents, have a lovely evening.
Oops.
Cheap B&M shit then.
Have you ever studied at a British university or walked around Portswood and noticed all the shops catering to Chinese students? Do you think all these students go back to China and become bin men or something? The president of China is himself a highly educated electrical engineer. Sure China is a cheap workshop but thatâs not all it is and has been rapidly increasing its automation and technology levels in recent years. Look at the solar power industry it dominates:
This view is more than 10 years out of date. Itâs likely that theyâre even more dominant now.
You might not like Chinese tech but a lot of the world seem to manage:
In 2019, WIPO reports, China filed 1.4 million patents, or 43.4 percent of the worldâs total patent applications that year. That is more than twice the number of filings in the United States.
source:- https://www.cigionline.org/articles/what-do-chinas-high-patent-numbers-really-mean/
There are some caveats though - not all patents are equal and the quality of Chinses patents is still regarded as being below US/UK/EU. What is clear is that they are catching up fast.
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Likewise if China decides to turn off the tap of bulk chemicals. The plants in the west that used to make them have been torn down. They can be replaced but it takes time and during that time supplies of many things are unobtainable.
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Should have returned if it didnât do the job.
Anyway l would have assumed youâd do your research before you bought it?
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Ouch
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Agreed, but the fact remains, the west owns and the Chinese make for them, its changing at a rapid pace but we donât have a house full of Chinese owned products, made yes (due to cheaper un unionised working conditions but that will change over time) but not owned.
People can copy and paste links to further their arguments concerning how powerful China is (it is but its still not a match for the US for the next few years at least) but what people miss is not how large the economy is but how it is distributed, quality of life index is the one that matters not how big an economy is as that doesnât affect the citizen anywhere near as much, your country may be economically powerful but as an individual youâre poor (India, Russia, China (changing) and many others).
The fall of western hegemony title is slightly suggestive, power is certainly going east but only as long as its cheap to produce there, globalisation isnât loyal and many western companies are looking at that security now, even China are as theyâve had a huge crackdown on internal dissent recently, why? Tibet is rich in mineral resources, Xinjang also, a large part of Chinaâs disputed territory has a large part of their future in it.
Europe is looking to secure semi conductor production security also (one of the reasons China is so aggressive over Taiwan).
The World will change but Europe and recently the US has been on top, that wonât change in our lifetime, sure economies will grow elsewhere but standards of living for all? Hmm not so sure.
I think Iâve said production isnât ownership, what China makes and owns is tiny and crap and in B&M (or my lounge as a large paperweight) compared to the west, yes they produce an awful lot but most of that of what we buy isnât Chinese owned.
Its headquarters are in California or Zurich, when China innovates and designs its own tech then yes but until then theyâll still be making but buying Nike and blagging apple phones.
Everything ok lads? Anything you want to get off your chests?
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Barryâs research material
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I listened to the majority of this podcast yesterday about the multipolar world:
I probably wouldnât recommend it because the main guest is shit at explaining stuff and there was loads of financial jargon being used. However I stuck with it and this was the guestâs take on current events.
The US have being trying for ages to rid themselves of the burden of the petrodollar. It is apparently the whole reason theyâve ended up having to offshore everything to China because it has forced them to run a defecit and artificially inflated the value of the dollar. However, theyâve been unable to rid themselves of this burden because doing so would make them look weak. Apparently, the war in Ukraine is genius because it is exactly what they needed and seizing Russiaâs offshore assets is a sign of strength and sleight of hand that obscures the fact that they are simultaneously signalling to the rest of the world that their offshore assets may also not be safe thus they should temporarily return to the gold standard, moving away from the petrodollar and ushering in the multipolar world. The value of Western assets is going to plummet but thatâs all ok because we will get manufacturing back presumably with no economic pain whatsoever.
If it werenât for the fact that Barry thinks China doesnât make anything except dildos, tooth picks and ear buds, itâs a ready made argument for Barry to cling on to going forward.
I canât speak or hear as Iâve a Chinese made dildo up my arse, using the toothpick and my ears are all blocked.
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Given that we invaded Iraq in order to prevent just that, I think we can view the rest of the piece with a certain amount of scepticism.
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No, no, no. We invaded Iraq to prevent people from choosing to abandon the petrodollar. That wouldâve made us look weak.
But if we give the Russians no choice but to abandon the petrodollar, by stealing all their cash then that makes us look strong.