Even if Huawei finds alternatives to U. The House intelligence committee made its views clear back in : using Huawei-made components in critical networks poses an unacceptable national security risk. But U. The new blacklisting is a far more aggressive tool. Though it still lacks a 5G plan.
Huawei smartphones and wireless infrastructure rely on U. Europe has been thrust in the unenviable middle because of its deep economic ties with China. If it stays there, there will be profound and dangerous implications for security. For the UK and Germany to invest in secure 5G infrastructure, it would mean rejecting the cheaper Huawei alternative. In some cases, it would also mean voiding political promises of national connectivity tied to rural economic development.
Extricating Huawei from European 5G networks is an enormous financial and political undertaking. The speed with which companies announced their withdrawal from Huawei following the Commerce department restriction serves as a reminder of the power of government policy to influence corporate behavior—even in the world of high-tech, where it sometimes feels impossible. Second, the United States needs a 5G plan — or even a 6G plan — that it can sell to its allies in place of the Huawei model.
There will be financial costs and likely delays in rollouts. This week, President Trump personally relays the anti-Huawei message across the Atlantic: Intelligence sharing over 5G networks that are one security update away from sending information to the Chinese Communist Party are not viable means of communicating U. By using this service you agree not to post material that is obscene, harassing, defamatory, or otherwise objectionable.
Although Defenseone. Subscribe Receive daily email updates: Subscribe to the Defense One daily. Be the first to receive updates. Most Read 1. Don't Miss. Show Comments Loading Hide Comments. Close [ x ] More from DefenseOne. God make us daring! My grandchildren are Canadian. That equity will search for good returns by promoting its intensive use. Have the pushers now moved to Wall Street? I am not an absolutist against legalization of cannabis. A successor regime would need to reduce the enormous role the military plays in all areas of the public sector.
It would have to start from scratch in restoring basic services in health care, education, and law enforcement. It would have to rebuild the oil industry and stimulate growth in other economic sectors. It would need to get rid of the drug dealers, prison racketeers, predatory miners, wealthy criminal financiers, and extortionists who have latched on to every part of the state. And it would have to make all these changes in the context of a toxic, anarchic political environment and a grave economic crisis. That to me is unacceptable.
After all the blood, sweat and tears Venezuela has had to spill during the last decades, it really deserves a brand new future. Here are eight tweets that imbed my action plan and dreams for my country. In , as a 24 years old recently graduated MBA, I was appointed to be the first diversification manager in the Venezuelan Investment Fund that was being created to manage the oil revenues from the oil boom of those days.
I resigned after only two weeks, the same day my desk arrived, already convinced by outside pressures exerted, that oil revenues redistribution profiteers would never allow the Fund to have the independence needed. No luck, the crony statism interest of concentrating these revenues in the hands governments, were they could be more easily exploited, proved much too strong for me. Now Venezuela has a golden opportunity to free itself from the most malignant part of its oil curse, the excessive concentration of power in its government.
I pray it is able to keep away any neo-redistribution profiteers.
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Let us make sure that having fallen this low we Venezuelans will aim for the stars… that way we will, as the Chinese saying goes, at least reach higher than if aiming at something seemingly more reachable. The idea of requiring banks to hold less capital equity against what is perceived, decreed or concocted as safe, like sovereigns, the AAArisktocracy and residential houses, than against what is perceived as risky, like SMEs and entrepreneurs, is absolutely cuckoo.
As a result clearly, sooner or later, the safe are going to get too much bank credit causing financial instability and the risky have, immediately, less access to it causing a weakening of the real economy. I wish they stopped finding energy in the screams of SMEs and start using their laughter instead. Yes, we sure do! But perhaps the activists depicted are not into that kind of arguments. Those in Monsters Inc. That caused the crisis. I am against protectionism Are not nations who retaliate against the imposition of tariffs by imposing their own tariffs just as protectionist as those who started imposing tariffs?
Is it perhaps because bank regulators allow banks to hold Italian debt against the least capital, meaning they can leverage it the most, meaning they can earn the highest expected risk adjusted returns on equity on it? As matters stand, the financial sector is too closed, and it provides too little funding and support for new ventures.
Could it be because regulators require banks to for instance hold more capital against loans to entreprenuers than against residential mortgages? But the challenge lies in unlocking it, which will require several things to happen. The best of the Winter Olympics for me was seeing Sofia Goggia singing her Italian national anthem with such enthusiasm. There was not one bit of Europe present in her voice… and that is an indication Europe is not going in a European direction.
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Was she a populist? Americans dream they are American. Few if no Europeans, dream they are Europeans.
The euro has done nothing to solve the challenges posed by the use of the euro, and in many ways, like what it did to Greece , it has behaved more as a Banana Union. Just in case you are curious, the worst for me at the WO was to suffer with Egvenia Medvedeva when not winning gold. The whole Cambridge Analytica affair, which came about when some limited Facebook data on 87 million people was presumably misappropriated, seems now used a lot to hide the fact that the existence at Facebook of much more detailed data on 2.
Since regulations might come, whether we like it or not, like many I have been giving some thoughts on how to regulate Facebook. This is what I have come up with. First of all, let us avoid many complicated hard to understand rules and go for some very simple few ones. Prohibit all data collection on truly private matters such as political, religious or sexual preferences.
And foremost a total prohibition on handing over any data to government agencies. I am from Venezuela, and I have seen enough damage having been caused by governments taking over traditional media, to want to think about these being able to exploit social media. Can you imagine Maduro using our Facebook data to decide with much more precision, who to give his food-boxes to? Of course I would love to see some of the advertising revenues we allowed Facebook to earn, return to us whose data is being exploited, perhaps by means of helping to fund a Universal Basic Income.
Where would the stock market value head? Where would the interest rate, for instance on public debt go?
Where would the prices of houses head? It is amazing how much discussions there are about the need to redistribute wealth without any consideration to what that redistribution would entail. Could that be because that is not in the interest of any redistribution or polarization profiteers? As I see it there is much more to be gained by capturing more income before it has been converted into wealth assets. Just redistributing existing wealth is a one-shot unsustainable top-down approach.
Much better is a very modest starting Universal Basic Income where you little by little begin to build up a societal dividend that will keep the redistribution and polarization profiteers at bay. And that is of course why the latter hate UBI… as it eats into the value of their franchise. And of course, in order to fund that UBI you must find sustainable sources of income…l ike on the advertising revenues of Facebook and alike … like a special tax on revenues generated under the protection of an intellectual property right … l ike a special tax on revenues generated by those benefiting from close to monopoly high market shares … like a tax on whatever causes pollution and otherwise threatens our pied-a-terre … and so on.
Nobel Prize winner Joseph E. It targeted extraordinary returns on equity made possible by the process of securitization teaming up with extremely lousy bank regulations. A part of the financial sector targeted originating and packaging very lousy high interest rate mortgages into AAA rated securities, because that is how you make real big money in the process of securitizing.
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In , bank regulators approved that if those securities had an AAA rating, or if an AAA rated corporation AIG had sold a default guarantee on such securities even if it had worse credit ratings, then banks needed to hold only 1. Professor Stiglitz having served in as the chairman of the U.
Commission on Reforms of the International Monetary and Financial System, where he oversaw suggested proposals and commissioned a report on reforming the international monetary and financial system, should know all that very well, and so he should be ashamed of himself for doing so. That implies bureaucrats know better what to do with credit than entrepreneurs. It is a great type of Hallmark flick, made by and for anti their establishment progressive activists.
Problem : Our economy, much because of regulatory distortion of the allocation of bank credit, has over ingested an unproductive debt. The sole redistribution of wealth is clearly not the answer, since all after tax income that produced the wealth, is now frozen in assets. Problem : Student debt is a great problem. If I was a newly elected first time European Union parliamentarian, the following is what I would ask in order to leave a clean historical record of my presence there:. In the foreword we read:. So Mario Draghi, as president of the European Central Bank since , what have you done about it, or is it your intention to leave that very hot potato to your successor?
Thursday, May 09, I have some ideas about what could compete with Facebook. Monday, April 08, A brief comment on Joseph E. Tuesday, March 26, Three tweets on the Greek Tragedy. You expected our governments to resist the temptations of too easy credit. And now you want our children and grandchildren to pay for all the need of bailing out your banks?
Friday, February 01, There are two de facto class wars, which seemingly shall not be named. Sunday, January 27, Redistribution profiteers have a vested interest in hindering people from reaching the pot they promise will be there waiting for them, at the end of their Marxists rainbow.
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I do not agree. That societal dividend would have to absolutely meet two criteria:. Be large enough to help you out of bed but never large enough to allow you stay in bed. We citizens need a clear global definition on what constitutes odious credits to sovereigns. A letter to the Washington Post not published. Sunday, October 28, Redistributing wealth is not as straightforward as redistribution profiteers want us to think. We can just pray that something of that main-street-purchasing-power comes into the hands of the few risk-taking entrepreneurs who, with luck, help catapult our world forward.
Monday, October 22, Five tweets and four PS: When shares and houses will want or need to transition from here to there, what will happen? Thursday, October 18, Investors want to promote the use of the products they have invested billions in; and that goes for cannabis-marijuana-marihuana-pot too. Wednesday, October 17, Having fallen so low, Venezuela should take that golden opportunity to try reach the stars. But they conclude in that:. That mission impossible sounding reads like placing all responsibility on the government to fix it all by going back and repeat, this time differently, all that got Venezuela to where it is today.
These tweets are not just based on current realities. Tuesday, October 09, Bank regulators behave like the scarer employed at the energy-producing factory Monsters, Inc. Friday, September 21, Deciphering my tweet. Tuesday, September 18, My tweets on protectionism. Friday, June 08, Was Sofia Goggia singing her national anthem with such fervor just being another Italian populist? Why is that?
One reason for that is that the option to restore competitiveness by means of devaluing its currency was closed when the Euro was adopted, and the EU authorities have been too busy with other minutia over the last 20 years so as to concentrate on how to solve the immense challenge with creating a union by pushing a common currency instead of a common currency resulting from a union. Wednesday, April 11, Keep your eyes on the ball, Cambridge Analytica is not it. Among these I would suggest:.
Have Facebook respect our very scarce attention span by limiting the ads it generates to a maximum of 3 per person on a per hour on line basis. We "The Resistance", might urgently need to create alternative underground social media. Saturday, March 17, Professor Joseph E. Older Posts Home. Subscribe to: Posts Atom. To contact me I have no time to monitor comments on the blog but if you want to make a comment you can always do so at: perkurowski gmail.
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Subscribe To Posts Atom. All Comments Atom. All Comments. Yes, I am aware I have more grey hair now And some more wrinkles A very poor menu Latin American is currently living the tragedy of having been trapped into a dilemma of believing it needs to pick between Bush and Chavez. Tilakaratna 1 Karen J.