The US trade deficit with China will hit a record $300 billion for the year, a big hit to the economy. It’s politically convenient to blame China, particularly its yuan policy. But the driver is a broad strategy by US corporations to shift an increasing range of economic activities to China. And now a trade war has broken out. Politicians, have a word with your corporate sponsors!
Trucks & Cars
Tokyo Tidbit: Superlative Supercar Pileup
by Wolf Richter • • Comments Off on Tokyo Tidbit: Superlative Supercar Pileup
A convoy of 20 supercars was speeding down the Chūgoku Expressway, trying to get to a supercar gathering in Hiroshima. The mere sight of such an apparition can turn heads and cause accidents. The convoy entered a left-hand bend at 90–100 mph, though the posted speed limit was 50 mph. The highway was wet. And the rest was very expensive.
The Consequences When Three Elements Collided
by Wolf Richter • • Comments Off on The Consequences When Three Elements Collided
The China Bubble Makes Contact with A Cactus
by Wolf Richter • • Comments Off on The China Bubble Makes Contact with A Cactus
Bubbles go on much longer than a rational mind can fathom, especially bubbles that are supported by governments and central banks. Everyone benefits, so everyone (except for a few hapless shorts) pushes to keep them going. But when they burst, they wreak havoc. And in China, there are new ominous signs.
The Ugly World Of Auto Sales
by Wolf Richter • • Comments Off on The Ugly World Of Auto Sales
Prying Into the Brain
by Wolf Richter • • Comments Off on Prying Into the Brain
A dream—or nightmare—yields to scientific progress: quantitative models recreate thoughts, and brain signals control mechanical devices. Yet, the brain is an unreliable organ that makes up for shortcomings in data with profuse creativity. It’s going to be a wild ride. And Google and Facebook will have a field day.
China Puts The Screws To BMW
by Wolf Richter • • Comments Off on China Puts The Screws To BMW
And BMW blinks. With sales of new vehicles approaching 18 million units in 2011, China is the largest car market in the world, far ahead of the US. No major car maker would want to miss out on the opportunities in China. Yet, there is a problem: Pressure by the Chinese Government to transfer the newest technologies.