Tag: China

Canada, Risk, US1 Comment

Financial Accountability Officer is an Officer of the Legistlative Assembly of Ontario

Colin Henderson

The Potential Impacts of US Tariffs on the Ontario Economy SummaryThis report examines Ontario’s trade relationship with the United States and estimates the potential impacts of US tariffs on Ontario’s exports, imports, GDP, employment and inflation.The United States is Ontario’s most important trading partnerThe US accounts for most of Ontario’s international trade, with 77 per cent of Ontario’s total goods exports and 60 per cent of the province’s total services exports. Imports of goods from the US accounted for 68 per cent of Ontario’s total goods imports, while services imports from the US were 63 per cent of total services … Continue reading Financial Accountability Officer is an Officer of the Legistlative Assembly of Ontario

banking, Economics, Geopolitics, Innovation, Risk, Social Theory

US Tariffs Set to Make world economic and military History

Colin Henderson

It is worth capturing this moment. It has the potential to be elevated to a moment in world economic history in the same vein as Bretton Woods, World Trade Organization, United Nations, and many other bedrock areas that preceded and followed WWII. The broad perspective was to encourage World stability in economic terms and those tools were designed to create a global platform of stability that would make WWxx things of the past. Here we are 80 years later and the flaws in those tools with their commensurate inability to adapt have created a global world of bad actors yet … Continue reading US Tariffs Set to Make world economic and military History

AI

Valuing the Deep State: A Nine-Part Series by Francis Fukuyama

Colin Henderson

Francis Fukuyama’s nine-part series on the advantages, dangers, and complications of bureaucratic autonomy. Francis Fukuyama A compilation of Francis Fukuyama’s nine-part series on valuing the deep state, originally published on his Frankly Fukuyama column via Persuasion. Part I: Valuing the Deep State Why the hostility towards the “deep state”? In the first installment of his series, Francis Fukuyama pushes back on anti-bureaucracy sentiment and makes the case that a high-capacity, professional, and impersonal state is critical to the success of any society. Part II: The Origin of States To understand the deep state, start by exploring human nature. Fukuyama traces how humans have … Continue reading Valuing the Deep State: A Nine-Part Series by Francis Fukuyama

Military, Nuclear

Biden Approved Secret Nuclear Strategy Refocusing on Chinese Threat

Colin Henderson

NYT reports US strategy for deterring nuclear weapons to focus on China Biden Approved Secret Nuclear Strategy Refocusing on Chinese Threat NYT reports US strategy for deterring nuclear weapons to focus on China “Here’s what else you need to know today. The Times reports that President Biden has approved a highly classified plan to, for the first time, reorient America’s strategy for deterring nuclear weapons to focus on China. The plan is an acknowledgement of China’s rapid expansion of its nuclear arsenal, which will rival that of the United States and Russia over the next decade.” From The Daily: Inside … Continue reading Biden Approved Secret Nuclear Strategy Refocusing on Chinese Threat

AI

Huawei Readies New Chip to Challenge Nvidia, Surmounting U.S. Sanctions

Colin Henderson

Chinese tech company looks for AI business with Ascend series but still faces production issues Aug. 13, 2024 at 5:43 am Chinese internet companies and telecommunications operators have been testing Huawei’s latest processor, called Ascend 910C, in recent weeks, according to people familiar with the matter. Huawei told potential clients that the new chip is comparable to Nvidia’s H100, which was introduced last year and isn’t directly available in China, the people said. Huawei’s ability to keep advancing in chips is the latest sign of how the company has managed to break through U.S.-erected obstacles and develop Chinese alternatives to … Continue reading Huawei Readies New Chip to Challenge Nvidia, Surmounting U.S. Sanctions

AI

It’s an open secret that vendors here are offering one of the world’s most sought-after technologies: the microchips that create artificial intelligence, which the United States is battling to keep out of Chinese hands

Colin Henderson

With Smugglers and Front Companies, China Is Skirting American A.I. Bans The U.S. is trying to stop China from getting Nvidia microchips to advance its military. The private sector is fighting back. By Ana Swanson and Claire Fu Ana Swanson reported from Shenzhen, China; Beijing; and Washington. Claire Fu reported from Seoul. Aug. 4, 2024Updated 2:44 p.m. ET In the southern Chinese city of Shenzhen, a mazelike market stretches for a half-mile, packed with stalls selling every type of electronic imaginable. It’s an open secret that vendors here are offering one of the world’s most sought-after technologies: the microchips that create artificial intelligence, which … Continue reading It’s an open secret that vendors here are offering one of the world’s most sought-after technologies: the microchips that create artificial intelligence, which the United States is battling to keep out of Chinese hands

Economy

So, shorting bonds is OK for the central bank because their prices are too high

Colin Henderson

China’s recent actions contradict President Xi Jinping’s vow to let markets play a decisive role in resource allocation. The People’s Bank of China has adopted “yield curve control” and is borrowing government bonds to drive up long-term yields. However, short selling in the stock market is restricted. These actions risk discouraging investor participation. [27 Jul 2024] Bloomberg Among the steps taken recently by China’s central bank is a new initiative to borrow government bonds from banks—the biggest holders of those securities—and sell them in the market in order to avoid drive up longer-term yields. In other words, shorting—just what hedge … Continue reading So, shorting bonds is OK for the central bank because their prices are too high

AGI

China to ensure their systems “embody core socialist values”

Colin Henderson

This development from China indicates their desire to continue the Chinese values within technology including AI. This adds another dimension to consideration of elements within the direction and progress to AGI. —- —- Financial Times Chinese government officials are testing artificial intelligence companies’ large language models to ensure their systems “embody core socialist values”, in the latest expansion of the country’s censorship regime. The Cyberspace Administration of China (CAC), a powerful internet overseer, has forced large tech companies and AI start-ups including ByteDance, Alibaba, Moonshot and 01.AI to take part in a mandatory government review of their AI models, according … Continue reading China to ensure their systems “embody core socialist values”

Uncategorized

It’s looking a bit lonely for US on the “right side of history” – Summers

Colin Henderson

My Conclusion (full conclusion at the foot) While America worries about Taiwan and computer chips, China is waging economic efforts to replace the legacy institutions set up by the West after WW2 (1940’s). Analysis Larry Summers speaks out while attending this weeks IMF annual meeting. He goes straight to the mandate and actions of the IMF and World Bank. They were set up to operate the Bretton Woods agreements of 1944 designed to establish for the first time a world wide monetary order. Summers point is to suggest the mandate of IMF, World Bank and UN is increasingly losing relevance … Continue reading It’s looking a bit lonely for US on the “right side of history” – Summers

Uncategorized

China continues to display economic strain that will reflect on world economy

Colin Henderson

In the ‘how is the world doing’ category, this take (from the chairman of Morgan Stanley Asia and author of ‘The Next Asia’ (Wiley), due out in September) on China is consequential for us all. The west imported cheap labour from there for the 15 years preceding 2007, and the after effect is coming home to roost. What will matter to us all, and to banks, is the relative impacts on currency values as the historic imbalances are rebalanced to a different metric. I have to keep going back to how banks in the west redesign their products and services. … Continue reading China continues to display economic strain that will reflect on world economy