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Mike Norman Economics

Duncan Green — Book Review: The Road to Somewhere, by David Goodhart

Populism versus elitism in the UK, with implications for elsewhere. Links to other reviews at the end.It's anecdotal rather than based on sociological and poli sci studies, but it's worth a look anyway.There are parallels in other countries and not necessarily close ones since the differences are large.For example, the liberal Western elite projects its values not only on fellow countrymen, which is turning out to be disproven at the polls, but other countries with very different cultures....

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China Plus — Largest quantum facility to equip stealth submarines

Dual-use technology development. The report suggests the scientists will be working on the development of "quantum metrology," a process which could help improve submarine's stealth operations.… The South China Morning Post is also reporting the facility in Hefei will be used to develop a quantum computer capable of decoding encrypted messages within seconds.... China.org.cnLargest quantum facility to equip stealth submarines China Plus

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Tyler Durden — “It’s Not Worth Fighting” – Hedge Funds Are Dumping Their China Shorts

Same people that shorted US Treasuries on the announcment of QE and rode it to the bottom? Just last week, Corriente Advisors’ Mark Hart announced the end of a seven-year options position that would’ve seen a massive payoff if the yuan dropped 50%. As we noted, he’d spent $240 million rolling over the options.... ROFLMAO.Zero Hedge"It's Not Worth Fighting" - Hedge Funds Are Dumping Their China ShortsTyler Durden

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Bill Gertz — China’s Great Leap in space warfare creates huge new threat

China is building an array of high-technology space arms – anti-satellite missiles, lasers, GPS jammers and killer satellites – that Beijing says will give its military strategic advantage in a future conflict with the United States. The People’s Liberation Army now has the capability of attacking, destroying or disrupting the 500 US satellites circling the earth at heights of between 1,200 miles and 22,000 miles, according to a new study by a US think tank, the National Institute for...

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Global Times — With many Chinese talents returning home, China gets set to overtake the U.S. in technology breakthroughs

A recent report by Goldman Sachs indicated that China has the resources and ambitious, high-level government plans to support artificial intelligence (AI) development and machine learning over the next few years. In the report, the investment bank identified four key factors for the growth of the AI industry - talent, data, infrastructure and computing power. By now, China already has the first three factors needed to fully embrace AI. Some talents who studied and worked overseas shared...

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Reuters — Treasury’s Mnuchin: China may face new sanctions on North Korea

“If China doesn’t follow these sanctions, we will put additional sanctions on them and prevent them from accessing the U.S. and international dollar system, and that’s quite meaningful,” Mnuchin said. This comes immediately after Russia and China signed on to new sanctions on North Korea.You think the Chinese leadership is not planning how to teach the US a lesson immediatey after hearing this on the news? Or that US businesses going to sit quietly while their Chinese operations go down...

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Democrats Follow Bernie Sanders’ Lead on Single-Payer — Aaron Mate interviews Adam Gaffney

 Well, what Clinton said will never, ever happen is now looking more and more possible. A number of prominent Democrats are lining up behind it, Sanders' bill for single-payer. Last week, Senators Elizabeth Warren and Kamala Harris jumped on board. Now, Senators Cory Booker of New Jersey, Jeff Merkley of Oregon, and Kirsten Gillibrand of New York are signing on as well. Bernie Sanders is set to unveil his Medicare for All Bill on Wednesday. Adam Gaffney is an Instructor in Medicine at...

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