Biden: Americans working in Chinese tech must quit and come back to US or lose their citizenship

I haven't seen this posted yet. Which I find odd lol.
Apparently Biden came out Friday and has said that Americans working at certain tech firms in China must quit and come back to the US, or risk losing their citizenship. This is a very bold move by Biden. It actually sounds more like something Trump would do, not Biden. Especially since the Biden's are heavily invested in China.
It'll be interesting to see how this plays out. Apparently many have already resigned which is looking like it is causing major disruptions in China.

"Under the latest US technology export rules, US citizens working in Chinese firms might face a tough choice — quit their jobs or risk losing US citizenship.

The latest tech export rules by the Joe Biden administration are an attempt to further regulate the flow of technological know-how from the United States to China and to affect the Chinese ability to produce semiconductors —commonly called chips— which are the bedrock of modern electronic industry and are used in everything from our personal computers to electric vehicles and high-end military technology."


Some of the new rules are as follows:

1. Ban on sending chips for artificial intelligence (AI) and high-performance computing and gear for chip production to China.
2. Chip-making gear restrictions covering production of both logic and memory chips.
3. Rules also effectively prohibit US persons from "supporting" the development or manufacture of chips covered by the restrictions.
4. The rules expand Unverified List that acts as a precursor to the Entity List, which bans exports of US designs and technology to entities such as Huawei.

What do you think this is all about, and why now?

www.outlookindia.com... 18

finance.yahoo.com... ig=AQAAAHiFQJfpv4qcl2NVQnnt9dO9bSD1WtKpCg8HfJTDwKkBWTiTqR3BPb5PFoxK1mVsQLRMFRV1R7isAsQSeh6ytoRwfvUfzkkuBLxI9E5F9s2P7hUKFgR5Efnb9SHkB1-CJ6qd942RgUnVMts pwBNMFLd157bWI8FBe57UhDzuaRwX

Wow!

Is hell freezing over this morning?

The Biden regime is actually doing something I agree with?!?!

a reply to: Roxstar

To somewhat understand who drives the Biden adminstration in policy ideas you need to understand the pack of women who serve as his advisors. See:
www.cnn.com...

This woman, Rana Foroohar is one of them and her "new idea" is to bring manufacturing home. She's written a new book, "Homecoming".

"A sweeping case that a new age of economic localization will reunite place and prosperity, putting an end to the last half century of globalization--by one of the preeminent economic journalists writing today"

"“Foroohar offers fascinating glimpses into the future, describing, among other innovations, farms grown in shipping containers, sustainable homes fashioned by 3D printers, and affordable education programs that provide career paths for students and needed skill sets for regional businesses. Though the obstacles to untangling global interdependencies on oil, grain, and other resources are somewhat underdeveloped, Foroohar lucidly explains complex financial and political matters and draws sharp profiles of imaginative labor organizers, business leaders, and policymakers. This astute survey provides a welcome measure of hope.”
– Publishers Weekly

"A sweeping case that a new age of economic localization will re-moor place and prosperity, putting to an end to the last half century of globalization—by one of the preeminent journalists writing today.

At the dawn of the twenty-first century, Thomas Friedman declared globalization the new economic order in The World Is Flat. But the reign of globalization as we’ve known it is over, argues Financial Times columnist and CNN analyst Rana Foroohar, and the rise of local, regional, and home-grown business is now at hand.

From bare supermarket shelves to the shortage of PPE supplies, the pandemic brought the fragility of global trade and supply chains into stark relief. The tragic war in Ukraine and the political and economic chaos that followed further underlined the fragilities of globalization. The world, it turns out, isn’t flat – in fact, it’s quite bumpy.

The fragmentation has been coming for decades. Our neoliberal economic philosophy of prioritizing efficiency over resilience and profits over local prosperity has produced massive inequality, perilous economic insecurity, and distrust in the institutions of today. This philosophy, which underpinned the last half century of globalization, has run its course.

Now, the pendulum of history is swinging back, powered by place-based economics and a wave of technological innovations making it possible to keep operations, investment and wealth closer to home, wherever it may be. In Homecoming, Foroohar explores both the challenges and the possibilities of this new era, and how it can usher in a more equitable and prosperous future."

So, Biden is bringing chip manufacturing home to the US. See the CNN clip. It is of course, in the short term at least inflationary. In the long term, she argues it will cause wages to rise and that it will reinvigorate the middle class.

If you watch the clip from CNN you'll see that she's arguing that shipping cheap goods from China to the US isn't sustainable after they put in a Carbon Tax thus production of goods will have to be in "local" economies. Goods will be more expensive but she argues that cheap has never really been cheap because of unseen costs shifted to workers in the form of low wages and the environment in terms of excess use of carbon based fuels. She also sees the economies at an inflection point, moving away from cheap capital to and wealth generation to a "work" economy where workers are paid higher wages and labor, probably in the form of Unions can command higer pay.

One of her more compelling arguments is that this shift can be seen as one that is best for national security. Arguably true, it does raise the spector of authoritarianism where Biden, as an example, as POTUS could claim that unemployment is a threat to National Security, thus.....if you're not working, you will be put to work in National Service to reduce the threat to National Security.

a reply to: watchitburn

Ya blew my mind too!!
I wonder where this will lead to. Will that tempt China to invade Taiwan?

a reply to: watchitburn

Hell may not be freezing over, but it's raining here for the first time in the Texas Hill Country; first time in 3 months.

could this be a reaction to the realization that the mid terms are going to bring lots of investigations, and Joey wants to appear to not be holding XI's junk?

a reply to: TonyS

I think it's a smart move to bring it all back to the US. Too easy for spies to infilitrate our organizations. I'm just amazed that Biden would actually do it.

originally posted by: network dude
could this be a reaction to the realization that the mid terms are going to bring lots of investigations, and Joey wants to appear to not be holding XI's junk?

Ya the timing is definitely interesting, especially just before the midterms

originally posted by: watchitburn
Wow!

Is hell freezing over this morning?

The Biden regime is actually doing something I agree with?!?!

No. What he is doing is creating a cause for even more shortages and at the same time providing a narrative as to why those shortages are happening all the while expecting most people will fall for it and have the same reaction you just did.

Every single thing they have done for nearly 3 years now was to cause shortages, financial pain, and push the reset forward. Everything. And every single time they come up with a "narrative" as to why those things are happening to try and make it appear as if these things are happening organically and not because of what their intentions are. And almost every single time, people just believe the narrative and fall in line.

originally posted by: awhispersecho

originally posted by: watchitburn
Wow!

Is hell freezing over this morning?

The Biden regime is actually doing something I agree with?!?!

No. What he is doing is creating a cause for even more shortages and at the same time providing a narrative as to why those shortages are happening all the while expecting most people will fall for it and have the same reaction you just did.

Every single thing they have done for nearly 3 years now was to cause shortages, financial pain, and push the reset forward. Everything. And every single time they come up with a "narrative" as to why those things are happening to try and make it appear as if these things are happening organically and not because of what their intentions are. And almost every single time, people just believe the narrative and fall in line.

Interesting take on this. I would not put it past the Biden team to have some sort of sinister agenda behind this.

a reply to: Roxstar

It is a smart move. But we have to understand, it isn't "Biden" doing it. He doesn't do anything except what he's told to do. These policy shifts are the result of the Obama advisory team that makes the moves behind the scenes.

www.gatestoneinstitute.org...

On many days, Biden then summons his brain trust, including Klain and top advisers Mike Donilon, Anita Dunn, Bruce Reed, Steve Ricchetti and Cedric L. Richmond. These sessions rarely have a formal agenda; Biden simply declares, "Here's what I want to talk about," or the aides raise subjects they have discussed in advance for Biden's consideration.

As much as I'd love manufacturing in the USA -- it's just not realistic.

We can't compete.

I think people will give up their US citizenship rather than come back under force.

originally posted by: watchitburn
Wow!

Is hell freezing over this morning?

The Biden regime is actually doing something I agree with?!?!

Really. Did Beijing miss a payment to Biden's offshore bank account?

You can't take away a US citizens status as a citizen.

He has zero power to do that.

You can barely revoke the citizenship of a naturalized citizen even in some extreme circumstances.

What Biden is saying, if this is a true story, amounts to nothing.

Certainly interesting. I'd love to see more manufacturing in the states. It's more job opportunity for me.

I'd love to work in a new manufacturing facility where the equipment isn't decades old and everything is held together by duct tape and zip ties, because parts are no longer made and the comoany won't pay for new equipment or for a machine shop to make parts.

a reply to: Annee

That's a corporate trope that has been circulated for decades to make people believe that cheap slave labor in other nations is preferable to a domestic labor market.

We absolutely can and must if we are to secure our nation in the future from supply chain shocks like we've been seeing.

China is missing quarterly reports and refusing to even give a date of when they will make reports. We can't rely on foreign dictatorships to make out products forever.

While I don't believe anyone would "give up" their citizenship over this. I don't believe Biden has the power to take anyone's citizenship either. It's an empty threat and a stupid one at that. So stupid that I have trouble believing this is actually coming from the administration.

originally posted by: Annee
As much as I'd love manufacturing in the USA -- it's just not realistic.

We can't compete.

I think people will give up their US citizenship rather than come back under force.

Lmao. What are you smoking Anneee?
My family runs a bunch of manufacturing plants.
...In the US none the less.
Care to elaborate on your experience?

What's with the "we" nonsense?
Do you have a mouse in your pocket?
Are you mixing up we and I?

a reply to: AutomateThis1v2

Until we start making our own steel and processing our own raw materials again, the manufacturing sector is going to suffer.

We don't even mold our own plastics for prototyping or limited runs let alone full-tilt manufacturing; this includes heavily regulated industries like medical device manufacturing not just plastic Tupperware and trinkets.

We have a long way to go but I do hold out hope that we can one day have a robust manufacturing sector again.

originally posted by: watchitburn
Wow!

Is hell freezing over this morning?

The Biden regime is actually doing something I agree with?!?!

Nah, it's just election time... the Biden regime is all bark no bite.

a reply to: Roxstar

I'm not a fan of Joe's, but you can't use investing to determine where one's loyalties lie. I've been heavily invested in China at times and wouldn't hesitate to do something that harms them.