Huawei will have to wait until after November before Beijing makes a move against U.S. companies, if at all.
Jerry Seinfeld told us in the good ole 1990s, “We all want the hand. Hand is tough to get. You’ve got to get hand right from the opening.” For those who never saw that episode of the Seinfeld sitcom, having upper hand can be very important in a relationship. It’s like being a buyer who can walk away, versus the seller who cannot. The U. S. has the upper hand in its ongoing trade war with China. The U. S. government has targeted TikTok, the most popular social media app China has ever produced, and Huawei, the Chinese teleco that’s the world’s biggest producer of 5G wireless telecommunications equipment. The U. S. alleges Huawei’s technology opens the door to massive Chinese espionage of Americans, including military personnel. And becomes a source of data collection it can mine for free, sell and package at a hefty price. The Chinese government has made a concerted effort to save their economy by “playing nicer” with the U. S. and American companies they rely on for their economic survival, the Daily Proof newsletter authors wrote on Friday. The Daily Proof is most famous for its ex-Goldman Sachs central bank critic Nomi Prins, and perennial uber bear and gold bug James Rickards.
