China now has the green light to destroy American tech companies


From the first days of June, the RTS index began to show sideways dynamics. Many investors are now on vacation, the MSCI Emerging Markets Index is also showing sideways dynamics due to lack of funds inflow. Last week, the minutes of the June meeting of the US Federal Reserve was published. Some leaders of the US Central Bank see the possibility of an earlier than expected cut in stimulus by the Federal Reserve against the background of the rapid growth of economic activity in the United States. At the last meeting, the regulator noted that it expects the interest rate to remain at the current level in 2021 and to increase by 2023. The next meeting is scheduled for July 27-28.

Tensions between the United States and China continue. The urgent evacuation of US troops from Afghanistan demonstrated the political weakness of the US. The United States has left the pro-American government to its own devices. The situation repeated when the USSR gave up supporting Najibula and left. World respect for the USSR did not increase after this step. US attacks Chinese companies for human rights abuses. The US Department of Commerce said 14 companies were added to its list of organizations for their activities in Xinjiang and five more for helping the Chinese military.

The moment for the offensive was not chosen very well – the United States is losing its position as an economic and political superpower. Even a loyal ally, Ukraine, is reorienting itself to China. Now the US should wait for a “response” from China. The ancient Chinese book The Art of War says that you should avoid the strengths of your opponents and attack their weaknesses. At one of the car dealerships, a Chinese woman stood on the roof of a Tesla car and shouted: “Tesla has failed brakes.” Now there will be many such Chinese women (figuratively speaking) and they will have American smartphones and other goods from the USA in their hands. The US has unleashed a war and China now has the green light to slowly destroy American tech companies. China on Sunday said it would take “the necessary steps” to respond to the US blacklisting Chinese companies for their alleged role in abuses against Uighurs and other Muslim ethnic minorities.

Reporting season kicks off this week. Banks will be the first to publish their quarterly results. For Q2 2021, the S&P 500 Index’s projected earnings growth rate is 63.6%. I look forward to the market opening without significant changes.

  • Investors will be awaiting reports from US banks this week.
  • The situation on the oil market has stabilized.
  • Asian markets are growing.
  • The Central Bank of China has lowered reserve rates for banks.
  • Eurozone finance ministers meet today on fiscal policy for 2022, corporate restructuring in post-covid recovery.
  • The deterrent for the growth of stock quotes is the rapid spread of the new variant of the Delta coronavirus and the low rates of vaccinations in Africa. For example, in South Africa, only 2.3% of the population is currently vaccinated, and the coronavirus does not recognize borders. San Francisco Federal Reserve Bank President Mary Daly believes low vaccination rates in some parts of the world pose a threat to US economic growth.
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