Should a Japanese Buyer be Blocked From Acquiring US Steel?
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This week Joe Biden announced his opposition to Nippon Steel’s proposed purchase of US Steel, saying it was “vital” for the American steel company to remain “domestically owned and operated.”
The US House of Representatives passed a bill earlier this week that could see TikTok being banned in the United States due to Chinese ownership. On the same day, British Prime Minister Rishi Sunak laid out plans to change the law to prevent foreign states from buying British news organizations in order to block an Abu Dhabi led deal to buy The Spectator and Telegraph newspapers. To what extent should we worry about foreign ownership?
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39 Comments
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All u see in this video is about DE-GLOBALIZATION which is a good sign , the western countries themselves helped the third world countries to grow and DEPEND every country to eachother to finally bring up a central government for all the countries gradually , but when the C91 was released by china and AGENDA 2o3o was started , the western countries immediately notices the cooperation of these 3rd world countries was rooted inside lots of paid mercenaries inside western countries , and the whole goal was the western DE-INDUSTRIALIZATION !
Lockdowns, climate , energy crisis and etc , all was to destroy industries and economies.
Now both UK and USA are working together to DE-RISK from any threats to their countries , usa protecting taiwan, banning china from chips , hurting the chinese and russian owned cryptos like ETH , focusing on industries inside usa and many more all are the signs that western countries are starting a whole new chapter which is a really great news for all of us this postpone A WORLD WIDE COMMUNISM upto 100's of years !
Anytime someone brings up the CCP's blocking of social media, I just like to point out that's one of the biggest reasons we shouldn't be doing the same. We are not run by the CCP.
Thank you Patrick
What's that giant ball of superheated plasma that never set on the possessions of her majesty Queen Victoria called again?
00:00 🌐 Concerns over foreign ownership of assets are surfacing globally, with recent moves by the US, UK, and Canada indicating a shift towards protectionism.
05:04 📱 The US House of Representatives passed a bill to ban TikTok unless it's sold by its Chinese owner, reflecting concerns over data privacy and national security.
08:07 💼 Joe Biden opposes Nippon Steel's purchase of US Steel, reflecting bipartisan concerns about foreign acquisitions, especially in an election year.
10:29 📰 Rishi Sunak blocks a deal to prevent foreign ownership of British news organizations, possibly driven by electioneering rather than national security concerns.
12:52 💹 Encouraging domestic investment in securities, like in the UK, aims to boost local stock markets but may limit investors' diversification and potential returns.
16:31 🌍 Historically, international trade has grown, but recent geopolitical tensions and economic concerns are causing a retreat from globalization.
19:12 🔄 Countries are redirecting trade and financial flows to align with new incentives and increase supply chain resilience, impacting global economic dynamics.
21:01 💡 Protectionist measures aimed at restricting foreign investment and promoting local markets may not be economically rational in today's interconnected world.
The instinct towards short sightedness and sacrificing the collective good…
Patrick really enjoy your channel, however very curious do you speak from memory or are you reading a teleprompter or cards. Anyway keep up the great work.
The thing with TikTok is that they’ve let Oracle audit their systems and algorithms.
All data going to the app now goes through Oracle Cloud and can be analyzed for suspicious patterns or logic.
And they’re moving all the data of the app to Oracle Cloud, so that all attempts to access the data can be monitored as well.
There’s also the obvious question of whether Bytedance’s global arm is really under the Chinese company or vice versa.
Companies (and investors) don’t usually choose to expose themselves and their profit to headache inducing governments.
TikTok may have been made using the same code as its Chinese counterpart, but its main purpose is generating profit – and keeping it separate is better for that goal.
As for China limiting foreign apps… Google had a project to get back into China by adding in suitable contact filters. The employees rebelled and it died.
But the point is… China isn’t blocking “foreign apps”. It just requires that they conform to local laws.
The laws are a little more demanding than elsewhere, but even in the US, social media contributing to Jan 6 was not received well by the government, and government would like content that opposes its will and causes instability to be suppressed.
Sometimes that’s framed as blocking foreign interference, but in the end, it’s about restricting the spread of ideas that are believed to be against the country’s interests (as judged by politicians)
Changing the choice of words and framing it under “national security”, really puts you in almost the same position as the Chinese… It’s much like seeing religions fight while not actually being all that different.
Additionally, Section 702 allowing easy spying on foreign nationals who have no rights… Seems like US Gov wants to control TikTok so they can do what they say China wants to do.
Quite tragic overall.
Basically… Outside of AI saving us, we’re on a path towards everyone being poorer.
The past (nation states) is trying to block humanity’s opportunities for progress.
Humans should ideally not be owned by countries anyway… Although moving beyond such limitations on freedom would be tough.
On the plus side, international decoupling might also protect world cultures some from countries that are going increasingly nuts… So it could be a path towards saving humanity’s future. lol
Separately, it is worth wondering If the increasing conservatism (in the sense of trying to fall back towards and recreate the past) isn’t a byproduct of politicians becoming increasingly old.
MC: 🎤BOYLE in the house 🔊🔊
actually china allow us social media and searching app to open in their country if they accept the censorship policy. just ask how microsoft doing in china.
I do think there's a key problem with foreign ownership in some economies – Some economies have major sectors completely owned by foreign investors, which means profits don't stay in the local country – it means local funds don't get the profits, which means both local mom-and-pop investors don't get the profits, but also local wealthy people don't get the profits and so there's no shower of gold trickling down onto the poor, either.
International investment is obviously a good thing for diversification, but it doesn't work when a country is so poor it can't itself benefit from owning foreign stock. The result is neocolonialism, wherein developing countries end up with next to no sources of public funds or private local capital because EVERYONE gets to be a member of the exploited working class.
If Tik Tok is really that free and out of the hands of Xi winnie the pooh Jinping, then everyone should post about free Tibet, Hong Kong, Aksai Chin and more videos of Winnie the pooh. If theose gets removed then you know who to blame😂
Thanks Patrick, out of all of the globally recognised and hyper cool rappers that I follow you are definitely the most informative. The subtleness of your bling is more than compensated with your global economic evaluations so please keep it up you boujee mo-fo. 🤘😎
7:35 Make a video about Tiannenmen Sqaure Massacre and you'll find out……….
Ban this trash app
Only reason this is happening is google is lobbying against them, they are taking way too much google cash from google.
Google has so much more data on people and probably sell it..
Do you think China buying up American farmland is alright? They could cut off or hinder our access our food supply and also could dictate what is being planted too……TIK TOK is poison to US youth! STOP SELLING AMERICA TO OVERSEAS INTERESTS AND DESTROY COMPETITION! The CHIPS ACT was definitely needed for American and International businesses alike = isn't like 90% of all semiconductor production currently in Taiwan?????? If China ever makes a move on Taiwan = the whole world is going be affected!
Yes
The irony of saying they are doing this for us, the murican people. Clownish.
Only the US government and their cronies are allowed to sell American companies to foreign nations.
Yes. China is flooding US with real estate purchases and our river are in danger of being claimed by foriegn billionaires.
How is this different to Bluescope Steel from Australia buying up chunks of America's steel industry. No one had anything to say about that.
There are many essential industries we should always keep in our country, this is only one of them. No critical national defense or infrastructure, ie, transportation, medical, power and food production should have any foreign investment: this is not a world that has the best interests of any US citizens at heart. When it comes down to them or us, and they own it, it will be them not us.😮
Answer to the title question: Absolutely YES!!
Reason: WWII
I love your content Patrick and gain very important insights from your videos, but must say that to blink is human and doing so would not reduce the power of your content in the least. Be well and keep up the great work!
Not to mention that the UK had no problem with Japan's Nikkei purchasing the very previously UK Pearson owned FT in 2015….
Yes
The countries that did well in ww2 had large steel capacity. Dont allow japan to buy us steel.
Anything that anyone from the government says about how they want to protect the American steel industry will forever ring untrue. Source: I grew up in Birmingham, AL, which was at one point known for its steel production. That wasn't providing enough kickbacks, however…
It political to block this however Nippon isn’t that smart not to wait until after the election to try to acquire. Nippon should have went for a joint venture that may not get pushback.🤔
The idea of a foreign government, especially an Islamic one, buying local media is absolutely insane. I am glad the UK is blocking it.
Also, free trade only works if nations play by the rules. China has repeatedly shown that they will not.
i guess just have to focus on being good fundamentally and the other stuff would come.
VOTE LETTUCE!!!
All DESERT DWELLERS cant go home because they would tear each other apart.
Isn't this the steel blocking what triggered the Pacific WW2 war… USA doesnt want to skip a chance for the ww3
Domestic steel has always been a touchy thing for the US government, so I'm not surpirsed at all that the Feds would object to the idea of US Steel being sold to Japan of all choices
First they promised cheap products by moving and coercing everone moving production out of west and europe. Now they are saving industries by selling them to foreign countries. Doesn't seem a pattern here? Leave west without any means, bare and dependent.