September 2022 | 296 comments (296 topical, 0 editorial, 0 hidden)

"greatest political self-own " NEW! (none / 1)

U.S. considers China sanctions to deter Taiwan action, Taiwan presses EU, 13 Sep

The Sources® said the deliberations in Washington and Taipei's separate lobbying of EU envoys were both at an early stage -- a response to fears of a Chinese invasion which have grown as military tensions escalate in the Taiwan Strait.
[...]
Reuters was unable to learn details on what specific sanctions were under consideration, but some analysts suggested China's military could be the focus.
"Big picture, initial sanctions conversations will likely revolve around curtailing China's access to certain technologies required to sustain a military operation against Taiwan," said Craig Singleton at the Foundation for Defense of Democracies.
[...]
Taiwan had already broached sanctions with European officials after Russia's invasion of Ukraine, but China's recent military exercises have seen Taiwan's position harden, Six Sources® briefed on the Taiwan-Europe discussions told Reuters.
Top Taiwanese officials' calls for sanctions preparations have intensified in recent weeks. A recent Chinese white paper, which withdrew a promise not to send troops or administrators to Taiwan if Beijing takes control of the island, has prompted a redoubling of their efforts with Europe.
Taiwan has not asked for anything specific, only for Europe to plan what actions it may take if China attacked, one source briefed on discussions said, and has asked Europe to warn China privately that it would face Consequences™.

• yahoo! New Voice of Ukraine | EU fails to agree Russia [embargo] gas price [fix and bid-rigging], but will introduce windfall tax on energy companies, 9 Sep
• euractiv | Ukraine calls for more Western arms after Russia pullback, 13 Sep
Feed me Seymour!

by Cat on Tue Sep 13th, 2022 at 11:15:20 PM EST
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Re: "greatest political self-own " NEW! (none / 1)

Market Watch | U.S. plans new ~~curbs on~~ sanctions against exports of chips, chip-making tools to China: report, 9/11

The Biden administration plans to expand export restrictions for U.S. chip companies to China, according to a new report. ...The ~~restrictions barred those companies from~~ sanctions against exporting semiconductor equipment to Chinese chip makers that were making sub-14-nanometer processes, unless first approved by the Commerce Department, according to Reuters.

Reuters | Tesla considering lithium refinery in Texas, seeks tax relief, 9 Sep

The report said the new curbs would also codify restrictions sent last month to Nvidia Corp. NVDA, -0.93% and Advanced Micro Devices Inc. AMD, -1.17% against shipping certain AI chips to China. Nvidia shares sank to a 52-week low after disclosing the restrictions. The broader restrictions could impact a number of other major tech companies, including Intel Corp. INTC, -0.38%, Dell Technologies Inc. DELL, -0.24% and Hewlett-Packard Enterprise Co. HPE, 0.35%, according to the report.
Reuters also said other restrictions may be added.

USGS | Mineral Commodity Summaries, lithium, Jan 2022
"The only lithium production in the United States was from one brine operation in Nevada."
McKinsey | These countries are driving lithium production, 25 May 2022
GRAPHIC WARNING: USGS color-coded top 10 reserves by geo-concentration
INN | Lithium Market Update: Q2 2022 in Review, 4 Aug China's supply chain discipline? RLY?

At the end of 2021, most analysts agreed that demand would outpace supply in 2022, and they were forecasting a deficit ahead. Even though a supply response is expected from the market, which could alleviate the current tightness, demand for lithium is still expected to be higher as EV sales continue to increase in key markets.

archived "Stabbed in the back", CHIPS for America Act of 2022, Economics for Taiwan Chips Industry, US, Europe's tech supply chain is at risk, EC bid for strategic autonomy, ASML: Lynchpin In Chips

CHIP 4 (USC 2022): US, JP, CN-tw, *KR
PBP (2022 NGO): US, UK, NZ, JP, EU
IPEF (2022 NGO): US, AU, JP, IN, NZ, KR, ID*, BN*, MY*, PH*, SG*, TH*, VN*

by Cat on Thu Sep 15th, 2022 at 02:23:48 PM EST
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Re: "greatest political self-own " NEW! (none / 1)

QUAD (2007 mil): US, AU, JP, IN (2021), KR* (2022)
IPEF (2022 NGO): US, AU, JP, IN, NZ, KR, ID*, BN*, MY*, PH*, SG*, TH*, VN*
CHIP 4 (2022): US, JP, CN-tw, *KR

parity watch
USD:KRW, 1:1,385
EUR:KRW, 1,387
RMB:KRW, 1:198
JPY:KRW, 1:9.6

Hankyorah | Economic ministers of S. Korea, China sign flurry of MoUs to bolster cooperation, 29 Aug

Both Choo and He expressed their agreement on the strongly complementary nature of the South Korean and Chinese economies and their close linkage in supply chain terms....

China Daily | 13th China-Japan-ROK Culture Ministers' Meeting kicks off in Qufu, 29 Aug

[Minister of Culture and Tourism] Hu also called for the three countries to set up a model of cultural industrial cooperation, explore new models of intangible cultural heritage cooperation and dissemination, and strengthen exchanges and deepen communication among the young people from the three countries....

Kyodo | Japan eager to hold foreign ministerial talks with China in Sept., 2 Sep

Hayashi said, "Nothing has been decided" with regard to a possible meeting with the Chinese foreign minister on the sidelines of the General Assembly, which will hold its annual general debate from Sept. 21 through 27.

Hankykoreh | 70% of Korean semiconductor experts see sector as in or nearing crisis, 6 Sep

Uncertainty has been on the rise with the fall in semiconductor prices as a result of weak demand connected with global inflation. Another concern is the US' increased export restrictions targeting China, including restrictions on semiconductor materials and software.
Some experts are even predicting a total price collapse in the fourth quarter....

US State | United States of America-Republic of Korea Extended Deterrence Strategy and Consultation Group (EDSCG), 8 Sep

The EDSCG provides an opportunity for the two governments to discuss peace and security on the Korean Peninsula and in the Indo-Pacific. President Joseph R. Biden and President Yoon Suk Yeol of the Republic of Korea agreed to re-establish the EDSCG at the May 2022 Summit in Seoul. This will be the first EDSCG meeting since 2018.

Hankyoreh | Yoon's foreign policy acumen to be put to test by flurry, 14 Sep

Yoon Suk-yeol is about to embark on two weeks of back-to-back diplomatic engagements, starting with his meeting with Li Zhanshu, chairman of the Standing Committee of the National People's Congress of China, and including trips to the UK, the US and Canada. Whether he will be able to showcase his diplomatic ability by solving conundrums facing South Korea ...

Yonhap | Yoon, Biden could discuss currency swap at summit: officia16 Sep

When pressed to clarify whether the subject could be discussed between the two governments, [Sr Secretary for economic affairs] Choi [Sang-mok] stressed that he expected such discussions only because the two leaders had agreed to cooperate on the matter in May.

DOD | Joint Statement on the [EDSCG], 16 Sep

...The United States reiterated its ironclad and unwavering commitment to draw on the full range of its military capabilities, including nuclear, conventional, missile defense, and other advanced non-nuclear capabilities, to provide extended deterrence for the ROK. The United States and the ROK made clear that any DPRK nuclear attack would be met with an overwhelming and decisive response. Both sides also confirmed their will to continue and strengthen close Alliance consultation regarding U.S. nuclear and missile defense policy....

Reuters | China, AUKUS countries clash at IAEA over nuclear submarine plan, 16 Sep

by Cat on Sat Sep 17th, 2022 at 08:38:13 PM EST
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"greatest political self-own " : BONUS (none / 0)

Yonhap | Maryland Gov. Hogan expects 'compromise' over controversial law on inflation after midterm elections, 17 Sep

He raised the possibility of a breakthrough on the controversial matter after the November midterm elections, speaking at a press conference in Seoul. The governor highlighted his commitment to efforts to insulate Seoul-Washington relations from the negative impact of the Inflation Reduction Act (IRA). But he pointed out the realistic difficulty of "totally reversing" the legislation before the elections ....

With focus on testing, Maryland buys 500,000 coronavirus test kits from South Korea, April 2020
Critics Say Hogan Should Have Acknowledged Problems With Korean Test Kits, Dec 2020
Audit: Hogan Administration Spent $11.9 Million on South Korean COVID Tests, Apr 2021
archived "Maglev" Hogan has spoken (approved by Yumi), market making

by Cat on Sat Sep 17th, 2022 at 09:04:58 PM EST
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Re: "greatest political self-own " NEW! (none / 0)

US Inflation Reduction Act: currency manipulation w/e 24 Sep

Mainichi | Japan's intervention unlikely to stem yen's slide, 23 Sep

The dollar briefly plummeted below 141 yen from a 24-year high near 146 yen Thursday after the government stepped into the market to stem the yen's slide. The action took the market somewhat by surprise, even though repeated warnings by Finance Minister Shunichi Suzuki against the yen's recent rapid decline to 24-year lows against the U.S. currency had left the market nervous, said Masahiro Yamaguchi, head of investment research at SMBC Trust Bank.
[...]
The Swiss National Bank on Thursday raised its benchmark interest rate by 0.75 percentage point, marking the end of an era of negative rates [NIRP] in Europe.
[...]
Analysts say Japanese authorities could act again if the dollar climbs to around 145 yen, as seen in Thursday's intervention, and market players will be nervous about crossing that line.
Masato Kanda, vice finance minister for international affairs, told reporters after the intervention that the ministry "will continue to watch foreign exchange movements with a sense of urgency."
Analysts say yen-buying intervention is more difficult than yen-selling as authorities have to rely on foreign reserves to sell in the market. Japan's foreign reserves, mainly composed of securities and deposits denominated in foreign currencies, stood at $1.29 trillion at the end of August, according to official data.

Hanyoreh | As exchange rate soars, will US Fed agree to currency swap with S. Korea?, 22 Sep

the size of the currency swap that is being requested by South Korea and the current attitude of the Fed remain unknown. In the past, the Fed has made decisions on currency swaps based purely on economic and financial logic, such as when many countries face difficulties securing dollar liquidity.
[...]
The Fed currently has a "permanent" currency swap agreement in place with five partners, namely the EU, Japan, the UK, Canada[,] and Switzerland [CHF] and and has also signed temporary emergency currency swap deals (for six months) with other countries when deemed necessary....

Yonhap | S. Korea vows steps to stabilize bond market over growing volatility, 23 Sep

South Korea plans to take measures to stabilize the bond market [ASEAN+3] if necessary as market volatility has grown over the U.S.' recent rate hikes, a senior finance ministry official said Friday.

Yonhap | Presidential office defends Yoon over apparent use of foul language, 22 Sep hot mic

In the video, Yoon is seen talking with U.S. President Joe Biden at a fundraiser for fighting infectious diseases in New York on Wednesday. As he turns away to leave, he appears to tell his aides with vulgar language that it would be embarrassing for Biden if the National Assembly did not approve of something unspecified.
[...]
"He wasn't speaking publicly on the stage but in passing, and although I don't know who recorded it and how, I actually think it should be verified," the official told reporters in New York.
[...]
"It's quite regrettable that a diplomatic disaster is being talked about over something like that when he is doing everything to complete a demanding schedule in the national interest of the Republic of Korea."...

Hankyoreh | Yoon's hot mic moment was reference to Korean opposition parties, not Biden, says spokesperson, 23 Sep

by Cat on Fri Sep 23rd, 2022 at 05:45:01 PM EST
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Re: "greatest political self-own " NEW! (none / 0)

Politico.com | Biden administration scales back student debt relief amid legal concerns, 29 Sep

The agency said it would still provide debt relief to borrowers "who have applied to consolidate into the Direct Loan program prior to Sept. 29, 2022." But the department said that path is no longer available to borrowers after the new guidance.

The Hill | Biden's student borrower forgiveness program updated to exclude private loans, 29 Sep

As of Thursday, borrowers with federal student loans not held by the Education Department are no longer eligible to obtain one-time debt relief by consolidating those loans into Direct Loans, the guidance said.
[...]
The White House [downplayed the CBO report], saying it's unlikely that 90 percent of eligible borrowers will take advantage of the program. Biden's plan also faced the ~~first~~ second of its legal challenges this week.

The Hill | Judge denies student debt cancellation lawsuit, 29 Sep

A federal judge on Thursday denied a challenge to President Biden's student debt forgiveness plan filed by the Pacific Legal Foundation (PLF).

Pelosi: "We have a shortage of workers in our country. In Florida, some of the farmers and the growers are saying 'why are you shipping these immigrants up North? We need them to pick the crops down here.'" pic.twitter.com/uCXgz0AXSB
— Greg Price (@greg_price11) September 30, 2022

Nebraska Atty Gen | Six States File a Challenge to the Biden Administration's Student Loan Cancellation Program, 29 Sep

Today, six states [NE, MO, AR, IA, KS, SC] filed a challenge to the Biden Administration's student loan cancellation program in federal court in Missouri. In it, they ask the Court for an immediate temporary restraining order pausing the program. Prompt relief is being sought because the Biden Administration has indicated it will start cancelling loan balances as early as next week.

My House colleagues and I are very concerned that the deeply flawed and unfair policy of blanket student loan forgiveness will also weaken our most powerful recruiting tool at the precise moment we are experiencing a crisis in military recruiting. https://t.co/vGEfKq0PRC
— Rep. Don Bacon 🇺🇸 (@RepDonBacon) September 19, 2022