Saturday , November 16 2024
Home / Mike Norman Economics / RT — Elon Musk now offers his solution to Taiwan issue

RT — Elon Musk now offers his solution to Taiwan issue

Summary:
Musk “reckons that conflict over Taiwan is inevitable,” FT editor Roula Khalaf wrote after the magnate took her to lunch in Texas. The question about China occasioned “the longest silence” of the interview, she noted. While such a conflict will impact Tesla – the Shanghai factory accounts for 30-50% of its total electric car production – other companies like Apple will be “in very deep trouble,” according to Musk. The global economy will take at least a 30% hit, he estimates.“My recommendation . . . would be to figure out a special administrative zone for Taiwan that is reasonably palatable, probably won’t make everyone happy. And it’s possible, and I think probably, in fact, that they could have an arrangement that’s more lenient than Hong Kong,” Musk told Khalaf....That is apparently

Topics:
Mike Norman considers the following as important:

This could be interesting, too:

Mike Norman writes Class

Mike Norman writes Episode 8 (S2) of the Smith Family Manga is now available — Bill Mitchell

Michael Hudson writes Beyond Surface Economics: The Case for Structural Reform

Nick Falvo writes Homelessness planning during COVID

Musk “reckons that conflict over Taiwan is inevitable,” FT editor Roula Khalaf wrote after the magnate took her to lunch in Texas. The question about China occasioned “the longest silence” of the interview, she noted.

While such a conflict will impact Tesla – the Shanghai factory accounts for 30-50% of its total electric car production – other companies like Apple will be “in very deep trouble,” according to Musk. The global economy will take at least a 30% hit, he estimates.

“My recommendation . . . would be to figure out a special administrative zone for Taiwan that is reasonably palatable, probably won’t make everyone happy. And it’s possible, and I think probably, in fact, that they could have an arrangement that’s more lenient than Hong Kong,” Musk told Khalaf....

That is apparently only in the event that China seizes Taiwan. If it leads to a hot war between China and its allies with the US and its allies, all bets are off regarding the global economy. There's no telling what that would bring in terms of destruction and disruption. Oh, and there is already a hot war in progress in Europe, and the Middle East is on the edge, too. Perfect storm.

RT (Russian state-sponsored media)
Elon Musk now offers his solution to Taiwan issue
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

Leave a Reply

Your email address will not be published. Required fields are marked *