An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Saturday, January 19, 2019
Tom Luongo 5G, Huawei and Us — The U.S. Hates Competition
Tom Luongo explains the real reasons behind the US attack on Huawei are part of the ongoing US hybrid war against China and Russia as competitors. It's about power and money, as always.
Companies like Apple have long protected their profits by denying that cell phones present any health risks (brain cancer etc).
Now, in order to protect Western companies’ profits, the corporate media outlets claim that Chinese 5G cell phones cause brain cancer. Meanwhile the US government claims that Chinese-made 5G threatens “national security.”
As a result, many U.S. cities have banned 5G wireless networks that use Chinese equipment. Canada’s government, plus several European governments, are talking about banning Chinese 5G nationwide.
Meanwhile Western companies are quietly installing their own 5G networks that will use Western products at far higher prices, which will be passed on to average American customers.
This is organized crime, otherwise called the “free market.”
American customers eagerly march to the slaughterhouse of higher prices because of their arrogance. Americans love to be told that foreign-made goods are dangerous and inferior.
“Huawei phones will give you cancer! Buy American products!"
(Which are made in China, and are sold in America for obscenely high prices.)
I’ve heard a lot of pros and cons regarding China’s ability to put nefarious code into their hardware. Living and working in Boston I hear a lot of back and forth on the issue between tech gurus and VC, PE and various investors in technology. Boy, it’s tough to call. The tech guys just do not trust the Chinese. They know what is doable in the coding capabilities in computer science. Would you rather pay a little more and be safer with American technology or is it all just propaganda? Who the F knows? I’ve listened to Elon Musk talk about it being no big deal. Others saying IP theft is a given. Big Brother is a given. China has given the middle class a huge “tax break” through very cheap consumer products (at the expense of American labor). “How much more technology do we need?” is the next argument. Or how fast do we need it? Those of us born in the 50’s are blown away by what we’re able to do with our Dick Tracy watches. It actually happened. We are also Cold War veterans deeply suspicious of China and Russia. So you can see that depending on your perspective, this is not an easy call. I’m sure it will all work out, but keep in mind that figuring out what is signal and what is noise is not so easy.
I'm amazed at the technology. I got an email the other day from British Gas telling my batteries are going flat in my room thermostat. I can control it from my mobile phone, tablet, or my PC. It's connected to the internet.
Companies like Apple have long protected their profits by denying that cell phones present any health risks (brain cancer etc).
ReplyDeleteNow, in order to protect Western companies’ profits, the corporate media outlets claim that Chinese 5G cell phones cause brain cancer. Meanwhile the US government claims that Chinese-made 5G threatens “national security.”
As a result, many U.S. cities have banned 5G wireless networks that use Chinese equipment. Canada’s government, plus several European governments, are talking about banning Chinese 5G nationwide.
Meanwhile Western companies are quietly installing their own 5G networks that will use Western products at far higher prices, which will be passed on to average American customers.
This is organized crime, otherwise called the “free market.”
American customers eagerly march to the slaughterhouse of higher prices because of their arrogance. Americans love to be told that foreign-made goods are dangerous and inferior.
“Huawei phones will give you cancer! Buy American products!"
(Which are made in China, and are sold in America for obscenely high prices.)
I’ve heard a lot of pros and cons regarding China’s ability to put nefarious code into their hardware. Living and working in Boston I hear a lot of back and forth on the issue between tech gurus and VC, PE and various investors in technology.
ReplyDeleteBoy, it’s tough to call. The tech guys just do not trust the Chinese. They know what is doable in the coding capabilities in computer science. Would you rather pay a little more and be safer with American technology or is it all just propaganda? Who the F knows? I’ve listened to Elon Musk talk about it being no big deal. Others saying IP theft is a given. Big Brother is a given. China has given the middle class a huge “tax break” through very cheap consumer products (at the expense of American labor).
“How much more technology do we need?” is the next argument. Or how fast do we need it? Those of us born in the 50’s are blown away by what we’re able to do with our Dick Tracy watches. It actually happened. We are also Cold War veterans deeply suspicious of China and Russia. So you can see that depending on your perspective, this is not an easy call.
I’m sure it will all work out, but keep in mind that figuring out what is signal and what is noise is not so easy.
I'm amazed at the technology. I got an email the other day from British Gas telling my batteries are going flat in my room thermostat. I can control it from my mobile phone, tablet, or my PC. It's connected to the internet.
ReplyDelete