“Big Tech has already implemented their own “social credit score” system where they punish people for their political views by deplatforming them, censoring their websites and closing their PayPal/bank accounts,” writes Chris Menahan.
Imagine going to buy groceries with your credit card, but then having your payment declined because someone in an office in San Francisco thinks you posted something “hateful” on the Internet.
We cannot win a currency war through the use of competitive currency devaluations that trigger a “race to the bottom,” and we cannot win a trade war by installing competitive trade barriers that simply cut us off from the benefits of cooperative trade. More favorable to our interests and values than warring with our trading partners would be to cooperate in sharing solutions, including banking and credit solutions.
Phi Beta Iota: High school version of the concept, neglects fact that the US Government does not do holistic analytics or true cost economics, loves regime change as a pay to play profit center for the banks, and lies to the public every single day while the Chinese whip our ass world-wide using peace, commerce, and friendship, the Ron Paul playbook.
While this article was written prior to President Moreno’s December 2018 trip to the PRC (securing a new $900 million loan), you may find this article a useful sector-by-sector analysis of the relationship, with a comparison to China’s relationship with Venezuela and Bolivia, as well as discussion of President Moreno’s attempt to secure more equitable contract terms for his country.
The Impact of China on the Latin American Security Environment
To frame the nature of China’s impacts on the Latin America and Caribbean security environment, it is important to understand that the rise of the PRC is
simultaneously affecting the region in multiple interdependent ways, often indirect and unintentional. These include altering its economic structure,
changing the dynamics of the regional arms market, and contributing to transpacific organized crime, among other. Perhaps most importantly, however, it is also impacting the perceptions and calculations of political, military leaders and business elites in the region, non-state actors and others, and by affecting those perceptions, it is altering their actions and the dynamics of the countries in which they operate.
A useful analysis that includes the negatives; the bottom line is shown in the image below – China is on a path to “own” the Southern Hemisphere including ports, airports, high-speed rail, and highways.
Alert Reader based in China and heavily invested in Chinese manufacturing brokerage reports that Trump tariffs are exactly what has been needed to bring the Chinese to the table so as to correct the imbalance that may have been fair 30 years ago but is grossly unfair to US companies and workers now.
He reports that over 100 factories have closed overnight as US companies have started cancelling orders that would not arrive in time to miss the new 10% tariffs that start 24 September, and that the Chinese government is under massive pressure to work with Trump to avoid triggering the 25% tariff rate that would be implemented on 1 January 2019 if talks do not progress.