Economic sanctions

**OhOh** · 24-11-2022, 12:30 PM

Netherlands signals it won't follow US' chip ban on China, move set to bolster Japan, South Korea's resistance to Washington

Move likely to bolster Japan's, South Korea's resistance to US coercion: analysts

By Li Xuanmin

Published: Nov 23, 2022 07:34 PM

"The Netherlands will defend its economic interests when it comes to the sales of chip equipment to China, a senior Dutch official said, sending a strong signal that the European country - home to world-leading chip company ASML - will not cave in to the US coercion despite the latter's stepped-up pressure.

The move, coming after South Korea's reported emphasis on not ruining exports to China as a precondition for joining the US-led "Chip 4" alliance, will likely bolster Japan's and other relevant members' resistance in following US' dictates, as they learned that bowing to Washington's pressure reaps no gain but risks giving up one of the world's most lucrative semiconductor markets to competitors, and would even create discord in bilateral economic relations with Beijing, industry insiders said.

Dutch Foreign Trade Minister Liesje Schreinemacher told lawmakers on Tuesday that the Netherlands will make its own decision regarding ASML's chip gear sales to China amid trade rule talks with the US, Bloomberg reported.

"It is important that we defend our own interests - our national safety, but also our economic interests," Bloomberg quoted Schreinemacher as saying.

Schreinemacher noted that the Netherlands would be "worse off" if the country "put that (interests) in an EU basket and negotiates with the US, and in the end it turns out we give away deep ultraviolet lithography (DUV) machines to the US."

The response came after the Biden administration ramped up pressure on allies including Japan and the Netherlands, pressuring them to align with a sweeping ban it issued in early October that bars a wider range of advanced chip exports to China.

Netherlands-based semiconductor manufacturer ASML said in a statement sent to the Global Times on Wednesday that it does not want to speculate or comment on the matter. "This is a discussion between governments".

Industry observers said the Dutch government's comment is a critical one, because it explicitly gives voice to the rising dissatisfaction toward the US, which has been reverberating among its allies, and is set to reinforce other countries' decisions not to succumb to the US coercion.

Analysts also said the move is partly inspired by the tough stance of South Korea in joining the "Chip 4" alliance, a US-led small semiconductor circle with the ultimate aim of creating a "semiconductor barrier" against the Chinese mainland.

In August, Seoul reportedly laid out conditions for joining the alliance, which largely played down the small clique's anti-China undertones. According to a report by Korean news portal Pulse News, Seoul reasoned that the four members "should respect the one-China policy and not mention any export barriers on China."

"The actions by US allies carry special significance in terms of how China could avoid the turmoil of the US-led lingering tech war and expand international business cooperation," Ma Jihua, a veteran telecommunication industry analyst, told the Global Times on Wednesday.

Ma added that the Netherlands' open remarks showed that the benefits of resisting US pressure "far outweigh" surrendering, which would provide a demonstration effect and make more US allies such as Japan follow suit.

ASML is not selling its extreme ultraviolet lithography (EUV) to China as it complied with a former US ban. But in terms of less-advanced DUV, the stakes related to the Chinese mainland market are high and a "decoupling" could cut off the bulk of profits of the company and undermine its research and development investment in future technologies, according to analysts.

According to ASML's 2021 financial statement, the Chinese market was its third-largest, accounting for 14.7 percent share of its global revenue last year. In 2021, its equipment shipments to China accounted for a 16 percent global share.

"Unlike EUV, where ASML has a near-monopoly, competition in the DUV industry is quite intense. If ASML withdraws, the gap will soon be filled by other rivals in South Korea and Japan. Chinese chip firms have also made major breakthroughs in chip manufacturing, and they are close to providing homegrown substitutes," Ma said, which could mean a "permanent loss" for ASML.

A Chinese industry official, who spoke on condition of anonymity, told the Global Times on the sidelines of the 5th China International Import Expo in Shanghai that a large foreign semiconductor industry player "quickly" demonstrated its lithography machines as ASML came under the spotlight amid escalating US tech restrictions on China.

The struggle of ASML is not unique. Industry observers said that if the new measures are strictly implemented, it could put as much as 30 percent of some US and global chip industry giants' total revenue at risk, as China accounts for one-third of their total revenues.

At a regular press briefing in early November, Zhao Lijian, a spokesperson for the Chinese Foreign Ministry, stressed that the formation and development of the global chip industry chain is the result of the combined effect of market laws and corporate choices.

"A certain country has repeatedly abused its national power, politicized, instrumentalized and weaponized sci-tech and trade issues, and maliciously suppressed China, which will not only seriously undermine global trade rules, but also damage the stability of the global industrial chain," Zhao said."

Netherlands signals it won't follow US' chip ban on China, move set to bolster Japan, South Korea's resistance to Washington - Global Times

**harrybarracuda** · 24-11-2022, 03:14 PM

Originally Posted by panama hat

You're full of shit, as usual

Well he's not, it's just the chinky bullshit he swallows like Buttplug down a dark alley.

**bsnub** · 25-11-2022, 05:30 PM

So much for the argument of the useful idiots that the sanctions are not working...

Sanctions against Russia are very much working [updated with latest data] • Real GDP, retail trade and vehicle manufacturing are all dropping off a cliff • Russia is heading towards ~4% recession in 2022 and in 2023, complicating financing of war in Ukraine

Russia is going down the dumper.

**sabang** · 26-11-2022, 02:07 AM

And Ukraine is thriving. [followed by gratuitous laughie]

**bsnub** · 26-11-2022, 06:22 AM

Originally Posted by sabang

And Ukraine is thriving.

Compared to Russia, it is. I thought the sanctions were not working, dippy? What happened?

**sabang** · 26-11-2022, 06:28 AM

Ask Ukraine- GDP down near 40%. Ask Russia- GDP down less than 5%, far less than western calculations. Ask the EU and UK, now in recession. No need to ask me.

**sabang** · 26-11-2022, 07:15 AM

What is a mystery to me is all of these confident assertions that Russia is losing, in spite of sitting on close to 20% of what was Ukraine, in spite of the decimation of the Ukrainian economy and displacement of it's population, and in spite of the fact the western economic sanctions have boomeranged massively.

**bsnub** · 26-11-2022, 03:12 PM

Originally Posted by sabang

What is a mystery to me is all of these confident assertions that Russia is losing, in spite of sitting on close to 20% of what was Ukraine

The Ukrainians have liberated 50% of the territory Russia occupied after Feb 24th. So your numbers are way off as usual.

Originally Posted by sabang

in spite of the decimation of the Ukrainian economy and displacement of it's population

You are clearly happy about that, aren't you? You miserable little cretin.

Originally Posted by sabang

in spite of the fact the western economic sanctions have boomeranged massively.

Total BS propaganda. As proven in the graphic I posted above, the Russian economy is tanking hard, and it is only going to get worse in the coming months.

**helge** · 26-11-2022, 04:41 PM

Originally Posted by bsnub

Compared to Russia, it is. I thought the sanctions were not working, dippy? What happened?

Are you serious ?

**helge** · 26-11-2022, 04:43 PM

Originally Posted by panama hat

Has anyone claimed this? Ukraine was attacked by the 2nd largest military power in the world and fought back. Why is this a mystery to you?

No mystery there

**bsnub** · 26-11-2022, 05:11 PM

Originally Posted by helge

Are you serious ?

Ukraine will quickly recover when this war is won. The EU is and will continue to pour money into Ukraine. Russia on the other hand is going to be fucked for decades for a multitude of reasons aside from just sanctions.

**helge** · 26-11-2022, 05:17 PM

So it isn't thriving compared to Russia, but will be ?

That's a possibility

**bsnub** · 26-11-2022, 05:43 PM

Originally Posted by helge

That's a possibility

I think it will become a forgone conclusion. Russia is in a real bad place, and it is only going to get worse. Currently, they do not have access to ball bearings and can not manufacture them domestically. That will affect all the industry in the nation. That is just one of many factors that will drive Russia into the abyss.

Ukraine on the other hand will see a resurgent tech sector, a growing defense industry, and further domestic development as it heads to inevitable EU membership and soon after that NATO.

**helge** · 27-11-2022, 04:46 AM

Spinning my comment a bit there, old buddy ?

**sabang** · 27-11-2022, 04:47 AM

Actually it has lost a fraction of the land it occupied, even more fractional if you account for the land it has annexed.

**bsnub** · 27-11-2022, 05:46 AM

Originally Posted by sabang

Actually it has lost a fraction of the land it occupied, even more fractional if you account for the land it has annexed.

Prove it, clown boy.

So, if we exclude these additional occupied regions and the Russian advances (which never materialized into permanent territorial control), at its peak Russia controlled around 90,873 sq km of Ukrainian land.
If we divide this figure by the number of Ukrainian counteroffensive successes, it appears that Russia has ceded somewhere between 47-48 percent of its gains made since the start of the invasion.

Fact Check: Has Ukraine Taken Half of Territory Back Since Russia Invaded?

Putin is having his ass handed to him on a plate. You have more humiliation coming.

Originally Posted by panama hat

Of course it is losing the war, it failed to meet its objectives and has lost most of the land it occupied.

It is about to lose a bunch more in the next couple of months when the winter offensive kicks off.

**OhOh** · 29-11-2022, 01:26 PM

27 Nov, 2022 10:25 Home Business News

Egyptian mercantile exchange to launch with Russian wheat

The new trading hub is expected to help attract foreign capital to the country

"The Egyptian Mercantile Exchange (EMX), which is set to open on November 27, will begin with Russian wheat being offered, the country’s deputy minister of internal trade and supply, Ibrahim Ashmawy, announced on Saturday.

“Tomorrow the Egyptian Mercantile Exchange will be launched, its work will begin with wheat trading,” Ashmawy said, as cited by the local Sada El Balad TV channel, adding that “the department for the supply of goods is a seller, and it will start trading with offers of Russian wheat.”

The official stressed that “the launch of a commodity exchange in Egypt will be a great addition to the country's trading system,” adding that the EMX is designed to ensure Egypt's “entry onto the global stage of commodity trading” and to help attract foreign capital to the country.

The exchange will also help “provide goods at a fair price, ensure the protection of small farmers, end monopolies in the industry and achieve price stability.”

At the initial stage of the trading hub’s operation, a certain amount of imported wheat is expected to be offered from the exchange's stocks at auctions twice a week.
Egypt announced the establishment of the commodity exchange back in 2019, but its launch had been postponed. Earlier this year, Ashmawy said that cotton and gold may also be traded on the EMX."

Egyptian mercantile exchange to launch with Russian wheat — RT Business News

28 Nov, 2022 15:16

Home Business News

Demand for Russian wheat surges on Egyptian exchange

Trading was launched for the first time on Sunday

"The demand for Russian wheat exceeded supply by nearly 65% on the first trading day of the newly-launched Egyptian Mercantile Exchange (EMX), Egypt’s internal trade and supply ministry said in a statement on Monday.

According to the ministry, 12,000 tons of the product went on sale at 9,750 Egyptian pounds ($398) per ton.

“Demand for wheat imported from Russia exceeded the ministry's initial supply by 64.83% on the first day of the commodity exchange operation,” the ministry told the Al-Yaum Al-Sabia news portal.

According to the statement, the trading hub received 28 requests for almost 20,000 tons of wheat from Russia, with 18 contracts concluded.

Trading on the EMX was launched for the first time on Sunday, and kicked off with offers of Russian wheat. The ministry earlier said that gold, cotton, rice and steel may also be traded on the hub in the future.
At the current stage of EMX’s operation, auctions are expected to open twice a week. The next trading day is scheduled for November 30."

https://www.rt.com/business/567324-r...gypt-exchange/

**HermantheGerman** · 29-11-2022, 02:00 PM

No news in the Chinese media about the protests.
Are the communist bastards sanctioning the news?
Maybe OhOh can explain

**helge** · 29-11-2022, 02:05 PM

Originally Posted by HermantheGerman

No news in the Chinese media about the protests.

As I understand it, there is no protests today.

Police are out in great numbers, jamming internet etc.

Folks are scared

From danish media

**HermantheGerman** · 29-11-2022, 03:05 PM

Originally Posted by helge

As I understand it, there is no protests today.
Police are out in great numbers, jamming internet etc.
Folks are scared
From danish media

The "BIG STICK" is the only thing they understand. Who ever said all men are created equal?

Keep them rounded up Xi & Ping.
Probably better this way

**OhOh** · 30-11-2022, 11:32 AM

Originally Posted by HermantheGerman

No news in the Chinese media about the protests.
Are the communist bastards sanctioning the news?
Maybe OhOh can explain

Discussed in the appropriate TD thread.

https://teakdoor.com/speakers-corner...ml#post4455191 (The View, from China)

**OhOh** · 30-11-2022, 11:35 AM

Economic sanctions-637aded5498ea27454b9efa1-jpg

**OhOh** · 30-11-2022, 02:37 PM

CEO confidence drops to an all-time low in H2 2022

Pessimism dominates, but European business leaders hold firm on green transition investments

Brussels, 23 November 2022:

"The results of a new survey released today reveal the latest sentiments for the economic and business outlook among European business leaders and reflect the challenges facing some of Europe’s most significant companies.

The Conference Board Measure of CEO Confidence™ for Europe polls corporate leaders and Members of the European Round Table for Industry (ERT) – the CEOs and Chairs of some of the best known European industrial and technology companies with operations worldwide. This 11th edition of the semi-annual survey gauged sentiment among the Members of ERT on a range of topics, including economic outlook, investment, energy transition & climate targets and the business and geopolitical implications of the war in Ukraine. The survey was conducted during October.

I’m not surprised by the findings of this latest survey. I have already seen for myself the impact of the energy crisis on Europe’s energy-intensive industries and the ripple effect throughout the value chain. This is why ERT issued an Industrial Competitiveness Alert* calling for action already last month.

We are still at real risk of a wave of deindustrialisation, as ongoing high energy costs undermine the global competitiveness of European production sites. The results of this latest survey indicate that this is a trend that will probably continue."

Continues at:

CEO confidence drops to an all-time low in H2 2022 - ERT

**harrybarracuda** · 01-12-2022, 08:10 AM

Originally Posted by OhOh

Discussed in the appropriate TD thread.

https://teakdoor.com/speakers-corner...ml#post4455191 (The View, from China)

So why do you keep posting chinky shit in this thread then?

**sabang** · 01-12-2022, 10:06 AM

Wow, German FDI up 95%. UK up 40%. Who are they supporting in this war? Or is it just about the survival of their reeling economies?

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