SK hynix, Samsung, TSMC granted one-year reprieve from China chip restrictions South Korean DRAM and flash memory chip maker SK hynix has been granted a one-year exemption from US Department of Commerce restrictions that ban exports of advanced chips and equipment to China. SK hynix told The Register an official letter from the US Department of Commerce's Bureau of Industry and Security (BIS) assured the …
The US can't compensate these companies for a loss in revenue, there's just too much business. So I'd guess that this is more a face saving maneuver than a real concession -- these companies have probably run the numbers are realized that from a business perspective it doesn't make a whole lot of sense to cripple their business just to maintain the US market, the growth potential is in Asia.
We (the US) have issued another economic dictum today. Apparently our Treasury secretary has decided that we (and everyone else) is going to pay no more than $60 a barrel for Russian oil. I understand where she's coming from but somehow this sounds a bit detached from reality (unless its telling me something very subtle about the expected dollar / ruble exchange rate).
Good luck enforcing this, but if the big players other than china squeeze them, even the ones that aren't playing ball like China will probably be able to force Russian oil below market price. Considering they are the trigger point of the current oil price war, I can accept a counter cartel forming to prevent Russia from profiteering on the back of an energy crisis it caused, and from using the profits to fund WW3.
They probably won't get the average for Russian oil exports down to 60$, but the further it is from the ~100$ mark, the better.
As for the chip sanctions, I suspect that South Korea and Taiwan are much more concerned with not being eaten by China right now. Sadly, the world is bending over backwards to try to keep China from shooting itself in the foot the way Russia did, but Xi has entrenched the same expansionist rhetoric that Putin did in Russia. Noting less than the occupation and ethnic cleansing of it's neighbors can satisfy his ambitions apparently.
So those that choose to echo the voice of the CCP, don't clutch your pearls when China's own actions force south east Asia to form a defensive alliance like NATO and align with the US. Xi chose this, Xi forced these nations to unite against him. The US did a pretty good job destroying it's own global influence during the global war on everything. While it's ambitions will probably also need to be addressed, China's neighbors may be right in pushing that decades down the road while they have a hungry tiger in their yard.
India and China have already been buying Russian oil at prices well below market, due to the small number of potential customers Putin has. Not sure this symbolic action by the US will influence that much unless they are paying more than $60 currently and point to that and say "the western world will pay you even less, so let us pay $61 and be happy about your profit".
I'm still not convinced Xi is doing anything other than talking. The bravado of saying stuff that previous Chinese presidents dared not to say in public is probably more to help him maintain his own power than an indication of his future plans. He's having some issues due to low growth caused by their stubborn zero covid policy which isn't feasible in the Omicron era, and the debt chickens coming home to roost in the real estate sector, young people refusing to pay their mortgages, 20% unemployment in the under 30 age group, etc. Talking about "unification" is one way to distract people from that bad news, when previously Chinese presidents had nothing but good news as China was growing at an insane rate and conquering new economic sectors every decade.
If he's learned anything from Putin's abject failure it is that conquering another country, even one that is smaller and less well equipped, is not a walk in the park even if it appears to be on paper.
Taiwan is not a COUNTRY!
Korea's largest customer is CHINER. Taiwan's largest customer is CHINER.
Russia is the largest oil superstate on earth with the largest production and the largest reserves. EVs will not save you. Wind generators will not save you, Solar cells will not save you besides CHINER HAS 95% of the SOLAR and WIND Generator production and sales market.
I guess things just aren't working out so well in the Middle Kingdom.
For roughly ten years now the US has had sanctions on roughly 40% of the world population. The only thing happening is the US Dollar reserve is losing its grip and USA and Britain are out chasing 6t dollar adventures in Weapons of Mass Destruction. The Biggest Accomplishment of US military involvement other than showing inept fumbling has essentially handed the Middle East and Persia over to the Taliban. But they sure enjoy those 2500 Trump Hummers and Joe's 85 Billion in weapon systems.
Weapons of Mass Destruction... the US JOHN WAYNE BLOWHARD... killing millions for nothing.
"Saddle up Pilgrim, we're headed for Saigon... I mean Taiwan..."
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