America chip company problem is not due to apple but rather import substitution by China....this news is good for China chip shares and bursa IT shares
May 3, 2023 The Federal Reserve’s decision about whether to continue raising interest rates comes at a fraught economic moment for the United States, with President Biden and Republicans in Congress locked in a standoff over how to raise the nation’s debt limit.
High inflation and instability in the banking system continue to weigh on the United States economy, but a more pressing concern is the prospect of a default. The federal government could be unable to pay all of its bills on time as soon as June 1, Treasury Secretary Janet L. Yellen warned this week, setting the stage for a self-inflicted economic calamity.
Analysts and economists have increasingly warned that a default could send financial markets plunging and tip the United States, and perhaps the global economy, into a recession.
A Treasury official pointed to the debt limit as a top risk facing the economy, saying that failure to raise the borrowing cap would cause a financial crisis of “historic proportion” and a sharp economic contraction that would leave millions of Americans facing unemployment. It would also probably trigger a spike in borrowing costs and prevent Social Security and Medicare beneficiaries from receiving their benefits.
China chip maker want to IPO leh. Wanna raise billions from the market and prepare the chest war to fight US sanctions leh. Haiyoh. Correct? ==========
as far as China is concern, die or survive depends on chips innovations.
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Mikecyc
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Posted by Mikecyc > 2023-05-05 21:01 |
Post removed.Why?