China Telecom - Its getting serious

[Teken]

The FCC has revoked China Telecom’s license and has 60 days to wind down their operations in America. The company has operated in the USA for more than 20 years. If stories are true several other large Chinese companies may be banned and told to cease operations in America.

I don’t know how many people are employed by this company in America. But this will obviously impact quite a few for sure.

I also wonder how it will impact competition in the various markets and the cost to the end consumers.

FCC votes to halt China Telecom operations in U.S., citing national security concerns

The company's U.S. subsidiary is "subject to exploitation, influence, and control by the Chinese government," the FCC said.

flip.it

 

[user8963]

Its too late.

Just look up china investments in 1st/2nd/3rd world countries. they bought them. they bought everything.
china controlls large amounts of raws and companies.


Then their home-made developments.
A few years to go, then good bye USA.

 

[Arjun]

Now I know why I get "scam/spam" calls for an extended car warranty

 

[Flintstone61]

Chafrica?

 

[Arjun]

Coincidentally, China has a huge presence in Africa in respect to laying out Africa's infrastructure (i.e. bridges, roads, rail, bus/air/rail projects, etc). Progress?
Ever got an email from a Nigerian prince?

Chafrica?

 

[IAmATeaf]

China is handing out billions of dollars in loans to African countries to help build infrastructure. I went on holiday to Kenya a few years ago and most of the main highways there have banners and flags with Chinese writing all along the side of the roads. They’ve also built the main railway between Nairobi and Mombasa.

Why are they doing this when they full well know that they most likely won’t get a return on their loans, because in the grand scheme of things they will collect their debts via other means, I’ve heard rumours that as Kenya has been unable to keep up payments the latest plan is try and take over Mombasa port or build another major port in Mombasa!

I suppose in business people or nations will get hurt but loan shark loans come to mind.

 

[mat200]

China is handing out billions of dollars in loans to African countries to help build infrastructure. I went on holiday to Kenya a few years ago and most of the main highways there have banners and flags with Chinese writing all along the side of the roads. They’ve also built the main railway between Nairobi and Mombasa.

Why are they doing this when they full well know that they most likely won’t get a return on their loans, because in the grand scheme of things they will collect their debts via other means, I’ve heard rumours that as Kenya has been unable to keep up payments the latest plan is try and take over Mombasa port or build another major port in Mombasa!

I suppose in business people or nations will get hurt but loan shark loans come to mind.

FYI - this is called Debt Diplomacy ... ( or Debt Trap Diplomacy )

China then comes in and takes a piece of the country for 99 years if they can not pay ..

 

[user8963]

China then comes in and takes a piece of

Yep.. but many already burnt their fingers in africa with this model. Some parts of Africa are not stable and the next government will come..

 

[Smilingreen]

The US currently has almost 29 trillion dollars of debt. China owns about 1.3 trillion of the US debt. We are slaves to China and nothing will change that until our country quits adding 3 or 4 trillion dollars per year of debt and raising the debt ceiling. We need to stop now, abolish all the social project spending, fire everyone in Congress and start with a clean slate of people who are focused on reducing our countries debt to other countries and will work like the rest of us, for a 5 figure salary, have them pay for their own health insurance and ban all of the special interest groups.

 

[mat200]

The US currently has almost 29 trillion dollars of debt. China owns about 1.3 trillion of the US debt. We are slaves to China and nothing will change that until our country quits adding 3 or 4 trillion dollars per year of debt and raising the debt ceiling. We need to stop now, abolish all the social project spending, fire everyone in Congress and start with a clean slate of people who are focused on reducing our countries debt to other countries and will work like the rest of us, for a 5 figure salary, have them pay for their own health insurance and ban all of the special interest groups.

 

[user8963]

Except if you are a country with taxation power.. then its the problem of the citizen

 

[IAmATeaf]

The US currently has almost 29 trillion dollars of debt. China owns about 1.3 trillion of the US debt. We are slaves to China and nothing will change that until our country quits adding 3 or 4 trillion dollars per year of debt and raising the debt ceiling. We need to stop now, abolish all the social project spending, fire everyone in Congress and start with a clean slate of people who are focused on reducing our countries debt to other countries and will work like the rest of us, for a 5 figure salary, have them pay for their own health insurance and ban all of the special interest groups.

That only works if you have all the resources the country needs and can self sustain, maybe even going back to the good old barter system. Wonder if the US public would be up for it?

 

[weigle2]

Any fan of 'Firefly' TV series and Serenity knew of China's grand plan back in 2002. The characters speaking Chinese throughout numerous episodes was the giveaway. The writers/creator of the series knew what the future would bring, even then.

 

[Smilingreen]

That only works if you have all the resources the country needs and can self sustain, maybe even going back to the good old barter system. Wonder if the US public would be up for it?

You have to start somewhere. Getting more credit cards because you have maxed our all the other ones is not the answer. We are not paying down our debt, we are barely making just the interest payments.