It’s Monday, so there’s another set of new capital controls out of China to tell you about. One caveat is Gou’s reputation for making big promises that often don’t materialize.
SECOND GALAXY SUBPLOT MISSING SCHOLAR TV
At the same time, the move looks like an effort to breathe life into TV maker Sharp, which Foxconn bought last year. Foxconn, which is based in Taiwan and manufactures largely in mainland China is acutely vulnerable to trade frictions between China and the U.S., and local manufacturing will mitigate some of that risk. Gou said the project could take $7 billion in investment and create between 30,000 and 50,000 jobs. Fortuneįoxconn founder Terry Gou outlined plans to make large display panels in the U.S., in what could be the biggest example yet of globalization going into reverse under pressure from the new administration. Trump has said any profits from such payments will go to the U.S. Elsewhere, the New York Times reported that a group of law scholars and former White House ethics lawyers will file suit against the President today for allowing his businesses to receive payments from foreign government officials. A CNN poll in October found that 73% of registered voters thought they should be released. Conway argued that “people didn’t care” and were more focused on what their tax returns would look like over the next four years. Trump had said during the campaign that he would release them once the IRS finished its audits, breaking a tradition of pre-election disclosure by candidates that went back over 40 years. President Donald Trump has changed his mind and will not release his tax returns, senior advisor Kellyanne Conway said Sunday. That admonition now has to be extended to cover his inaugural address, too. The CEO of one of the nation’s largest companies advised me last week to watch what the President does, and ignore what he tweets. But if he leads the world into a new era of global protectionism, then the effects on U.S.
companies now locked overseas by high taxes, and to continue to lean on companies to invest more in the U.S., then the CEOs optimism may well be justified.
If this means that President Trump plans to repatriate the earnings of U.S. “For many decades, we’ve enriched foreign industry at the expense of American industry” and have “made other countries rich while the wealth, strength and confidence of our country has disappeared over the horizon.” In the new administration, “we will bring back our jobs” by following “two simple rules: we will buy American and hire American.” Leaving aside the absence of humility, poetry and generosity towards his predecessors, the speech presented a zero-sum view of the global economy. Bush’s first inaugural address, which you can read here.īut this was different. I have been moved by every one I’ve witnessed since 1976. I’m usually a sucker for inaugural addresses, which are filled with hope and promise.
They downplayed his anti-trade and anti-immigration sentiments, and emphasized the potential for reducing corporate taxes and regulation.īut that was before the speech. CEOs in Davos were strikingly optimistic about prospects for the upcoming Trump administration.
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