(Bloomberg) -- The Biden administration is warning Germany and other European nations not to let China take control of companies in strategic sectors, a senior US official said, pointing to a recent move to whittle down China’s stake in the Hamburg port as a successful outcome.Most Read from BloombergMusk Plans to Eliminate Half of Twitter Jobs to Cut CostsPowell Sees Higher Peak for Rates, Path to Slow Tempo of HikesHow a Mysterious China Screenshot Spurred $450 Billion RallyLottery Winner Keep
Really seems to keep building the contradiction of the supposed might of the “free market” that we are always told matters more than us. We aren’t allowed to have bailouts of the masses. But private companies are allowed to become “too big to fail” and get bailouts without strings attached. The Chinese have been for my entire life the whipping boy for “took our jobs” along with Mexico and other financially poorer nations. But never any real rage at the rich fucks that made the choice to send jobs outside the US. China and other nations didn’t hold CEOs at gun point and force them to send jobs to them. But it is always spun as hostile actions when China does its own exporting of tech or when they freely spend money to buy shares of things.
A state playing by the rules of the all powerful “free market” should be able to buy whatever they want if it is being sold. But we see the “does as I say and not as I do” mantra in action when the US does shit like this. The US refuses to nationalize any of our industries (which could be used to fund stuff that helps people) all because it goes against privatization. Funny thing about that is that it means all anyone has to do to fuck everything up is get 51%. It is so obvious but somehow gets hand waved away due to corp greed (which has zero loyalties to any one nation as long as money comes in). The US is all the worst parts of any choices due to wanting so badly to have its cake and eat it too.
“Inaction until overreaction”. That slogan should replace every instance of “In God we trust”.