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Trump’s new economic war
Trump’s new economic war
Saudi Arabia and other producers must cut oil prices, global central banks “immediately” needed to slash interest rates, and foreign companies must ramp up investments in US factories or face tariffs. The EU — which came in for particular opprobrium — must stop hitting big American technology companies with competition fines.
Trump’s demands came amid a frenetic first week in office in which the president launched a blitzkrieg of executive orders and announcements intended not just to reshape the state but also assert America’s economic and commercial supremacy. Tariffs of up to 25 per cent could be slapped on Canada and Mexico as early as February 1, riding roughshod over the trade deal Trump himself negotiated in his first term.  China could face levies of up to 100 per cent if Beijing failed to agree on a deal to sell at least 50 per cent of the TikTok app to a US company, while the EU was told to purchase more American oil if it wanted to avoid tariffs. Underscoring the new American unilateralism, Trump pulled the US out of the World Health Organization, as well as exiting the Paris climate accord for a second time.
This proposal throws a “hand grenade” at international tax policymaking, says Niels Johannesen, director of the Oxford university Centre for Business Taxation at Saïd Business School. The move suggests a determination to “shape other countries’ tax policy through coercion rather than through co-operation”, he adds.
“Those around Trump have had time to build up a systematic, methodological approach for protectionist trade policy and it shows,” says former UK trade department official Allie Renison, now at consultancy SEC Newgate. The approach will be to build up a case file of “evidence” against countries, she says, and then use it to extract concessions in areas of both economic and foreign policy.
The question remains how far Trump is willing to go. The danger of trampling on the rules-based order, says Jeromin Zettelmeyer, head of the Bruegel think-tank, is a complete breakdown in the diplomatic and legal channels for settling international disputes. If Trump were to pull out of a wider range of international frameworks, such as the WTO or the IMF, he warns, then the arrangements that help govern the global economy could get “substantively destroyed”.
Some caution against being awestruck by Trump’s threats or his espousal of capitalism without limits, because his agenda was so incoherent. “What we are seeing is huge doses of American hubris,” says Arancha González, dean of the Paris School of International Affairs at Sciences Po. “We are blinded by the intensity of all the issues put on the table and by Trump’s conviction. But we are not looking at the contradictions. It’s like we are all on an orange drug
·archive.is·
Trump’s new economic war
Arrival (film) - Wikipedia
Arrival (film) - Wikipedia
When Banks is able to establish sufficient shared vocabulary to ask why the aliens have come, they answer with a statement that could be translated as "offer weapon". China interprets this as "use weapon", prompting them to break off communications, and other nations follow. Banks argues that the symbol interpreted as "weapon" can be more abstractly related to the concepts of "means" or "tool"; China's translation likely results from interacting with the aliens using mahjong, a highly competitive game.
·en.wikipedia.org·
Arrival (film) - Wikipedia
‘Silicon Values’
‘Silicon Values’
York points to a 1946 U.S. Supreme Court decision, Marsh v. Alabama, which held that private entities can become sufficiently large and public to require them to be subject to the same Constitutional constraints as government entities. Though York says this ruling has “not as of this writing been applied to the quasi-public spaces of the internet”
even if YouTube were treated as an extension of government due to its size and required to retain every non-criminal video uploaded to its service, it would make as much of a political statement elsewhere, if not more. In France and Germany, it — like any other company — must comply with laws that require the removal of hate speech, laws which in the U.S. would be unconstitutional
Several European countries have banned Google Analytics because it is impossible for their citizens to be protected against surveillance by American intelligence agencies.
TikTok has downplayed the seriousness of its platform by framing it as an entertainment venue. As with other platforms, disinformation on TikTok spreads and multiplies. These factors may have an effect on how people vote. But the sudden alarm over yet-unproved allegations of algorithmic meddling in TikTok to boost Chinese interests is laughable to those of us who have been at the mercy of American-created algorithms despite living elsewhere. American state actors have also taken advantage of the popularity of social networks in ways not dissimilar from political adversaries.
what York notes is how aligned platforms are with the biases of upper-class white Americans; not coincidentally, the boards and executive teams of these companies are dominated by people matching that description.
It should not be so easy to point to similarities in egregious behaviour; corruption of legal processes should not be so common. I worry that regulators in China and the U.S. will spend so much time negotiating which of them gets to treat the internet as their domain while the rest of us get steamrolled by policies that maximize their self-preferencing.
to ensure a clear set of values projected into the world. One way to achieve that is to prefer protocols over platforms.
This links up with Ben Thompson’s idea about splitting twitter into a protocol company and a social media company
Yes, the country’s light touch approach to regulation and generous support of its tech industry has brought the world many of its most popular products and services. But it should not be assumed that we must rely on these companies built in the context of middle- and upper-class America.
·pxlnv.com·
‘Silicon Values’