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"US bans ‘advanced tech’ firms from building facilities in China for a decade"

https://www.theguardian.com/business/2022/sep/07/us-bans-advanced-tech-firms-from-building-facilities-in-china-for-a-decade?utm_source=fark&utm_medium=website&utm_content=link&ICID=ref_fark

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JohnnySpot · 56-60, M

The US has no say about what happens in China.

Virgo79 · 61-69, M

@JohnnySpot true but they gotta do something to start trouble🤷‍♂️

Vin53 · M

No US funded tech firm. Nothing to do with China's affairs.

@JohnnySpot

bijouxbroussard · F

@JohnnySpot They do when they’re footing the bill. If the companies want to depend on China for their funding, perhaps that’s different.

US technology firms that receive government funding will be banned from building “advanced technology facilities” in China for a decade, the Biden administration has announced, as it outlined plans to increase domestic production of semiconductors.

Ynotisay · M

@JohnnySpot The U.S. has no say in terms of how China runs their country. Like any country. The U.S. has a whole lot of say in how China interacts with the United States.

JohnnySpot · 56-60, M

China's currency is still backed by real gold and silver.

bijouxbroussard · F

@JohnnySpot Perhaps, and they’re likely particular about handing it over to anyone.

Northwest · M

@JohnnySpot

The US has no say about what happens in China.

Not true. The US decides what tech goes to China and what does not. This also includes most of the West's technology as it's nearly 100% dependent on licenses from US companies. One of the reasons China is not capable of producing high end processors is that it's blocked from having production equipment by the US. Recently, the US also blocked Nvidia from shipping GPUs and related technology to China.

China's currency is still backed by real gold and silver.

About 2% of the Yuan is backed by gold, but that's absolutely meaningless.

AthrillatheHunt · 51-55, M

@JohnnySpot the Chinese use dollars as a sign of respect and to not be confrontational . The Yuan is way too sketchy to be a world wide currency .

JohnnySpot · 56-60, M

Thank you all for putting this into a nutshell.

JohnnySpot · 56-60, M

It looks like what I said is not true@Virgo79

JohnnySpot · 56-60, M

@Northwest in what conditions would the gold standard be relevant? A honest question.

JohnnySpot · 56-60, M

@bijouxbroussard the US trade dollar is an interesting coin to collect.

Northwest · M

@JohnnySpot

in what conditions would the gold standard be relevant? A honest question.

Gold is a commodity that goes up and down, based on international conditions, AND the perceived value of the US $, as well as supply/demand. For instance, if Russia starts selling gold to pay for its war, the price of gold will crash. This is why basing a currency on gold is no longer done.

JohnnySpot · 56-60, M

@Northwest mutual funds holding 55% technology will go back up, right?