https://www.reuters.com/article/us-usa-china-comac-military-…
https://www.theverge.com/2021/1/14/22231786/trump-administra…
Interesting - thoughts? I wonder if Biden reverse the decision?
Trump Administration Blacklists Xiaomi as a ‘Communist Chinese Military Company’
ShortyX on 15/01/2021 - 13:59
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Xiaomi shares fall 10% as U.S. adds smartphone-maker to ‘blacklist’
A 10% dip. Is that all? 😆
It's that all? 31 billion dollar market cap - 10% isn't that small
A 10% dip is just another Friday in another market.
A dip is a discount and an opportunity to accumulate more assets. XIACY was 10% cheaper this morning compared to yesterday. Seasoned traders are tripping over themselves trying to pick up cheap stocks from weak 🙌.
Speaking of Chinese companies, where has old mate Jack Ma ended up?
Jack is getting re-educated on how to be a good collective instead of an open minded individual.
he will turn up with a confession about corruption, bribery, usual sort of thing.
Only question now is, does he end up in a re-education camp for a really extended stay, or receive a bullet.
Could be worse. You could be Optus who use Huawei equipment in their enterprise infrastructure.
You mean how Optus is gaining increasing market share due to more competitive pricing, perhaps as a result of more cost competitive infrastructure?
Did I say that? No, that's completely unrelated. Rather why did the government ban Huawei from 5G citing spying concerns when they're allowing the backbone of Optus' infrastructure be Huawei? How do I know? I had to install a lot of it when I worked for a major multinational telecom and the equipment came in from Hong Kong.
Then again Telstra were also using equipment preconfigured from Hong Kong on loan. Except that was Cisco gear.
I think you miss my point. You are looking at this from national security perspective, consumers like me want best bang for buck. I respect your POV but I want to put my forward.
Not to turn this into a political thread, but I don't necessarily believe the Chinese are the only ones tapping (I am pretty sure US taps us as well, but I guess it's dependent on which side one is on I suppose.)
@CptnObvious: Except you started off with you mean… No that's not what I meant at all. My comment was nothing to do with their market share or competitive pricing at all…. that's a whole different topic. It was purely from a national security perspective.
When it comes to infrastructure and pricing Optus has its pros and cons in many areas. In my state their 4G coverage is terrible and I'd never recommend their mobile services. Their NBN service is great due to the wide coverage of FTTP and I have them as both the primary and secondary connection in a lot of places. They are however not my preferred ISP due to local support being outsourced to inadequate contractors.
It's no secret China aren't the only ones who are spying. It's well known that the US, Five Eyes and other countries are participating in this. Edward Snowden is the famous leak of that stuff, just look at what the NSA were doing to Cisco routers. So many companies worldwide are using their equipment.
@Clear: Yep, the "you mean" was friday night sarcasm on my part. All good bro - you have a good sensible point of view.
@CptnObvious: Thanks. It's good to see someone who actually knows how to respond. There's a select few around who like to start arguments and throw insults. Now that's Friday entertainment ;)
All Asia countries practice state owned businesses and many of these are owned by the military of the countries too. The number of times I have travelled to the Philippines, Indonesia, Vietnam, Malaysia for business meetings and end up in the same room with military and govt officials is so normal.
Did you know big brand names like Optus (Owned by Singtel) and Singapore Airlines are actually owned by the Singapore Govt ?
However, these are not common practice in the western world. So people have the idea these govt or military run business are different and setup to do weird stuff like spying. If you want to talk about spying. the 2 largest company that do that today is Google and Apple. Even if you turn Siri and Google functions off, they are still listening and recording. Just read up on Edward Snowden whistleblowing details. But we just choose to accept that as a norm.
It's just sad that the world is caught in the cross fire of the Trump administration and their weird antics.
Did you know big brand names like Optus (Owned by Singtel) and Singapore Airlines are actually owned by the Singapore Govt ?
This reminds me. Telstra had network equipment pre-configured in Hong Kong by a Hong Kong ISP, shipped to Aus and installed in DFAT offices by random contractors. It's a scary if you think about it.
Not to mention, our banks and telco outsource their call centers to India and Philippines and the news has already came out that those call centers copies the user information they can access and sell it… probably why we get so many scam calls from overseas who have our details.
I swear there's an inside job happening with Telstra. Over the last 7 years nearly every single time a big business is getting a new Telstra NBN connection, they get a call from someone pretending to be Telstra to scam them. They know everything about the connection and customer that only someone inside would know, but our Telstra account managers insist it's "not possible".
Did you know big brand names like Optus (Owned by Singtel) and Singapore Airlines are actually owned by the Singapore Govt ?
Not strictly correct.
Singapore Airlines are 58% owned by Temasek, the Singapore Government's sovereign wealth fund. Similarly, Singtel is 52% owned by Temasek. So yes, it can be argued that indirectly, the Sg government has a controlling interest in both companies.
However the remaining shares are mostly held by non Sg government entities, and both are publicly traded companies on the stock exchange. Anyone can buy shares in both companies.
Temasek also own 51% of Capitaland, the largest diversified property group in Asia, and owner of most of the malls in Singapore and other Asian cities.
If only Australia had a sovereign wealth fund like Temasek. We could solve so many problems like our shitty nbn, antiquated railways, hospitals, schools, etc etc, if we invested in our infrastructure. And yes, I have gone off topic.
To borrow a quote from the response "the Sg government has a controlling interest in both companies".
That is just semantics isn't it ? with majority shareholding, the final say is with the major shareholder, i.e. the Govt, hence my point abt "Govt owned" or maybe I should have just used "Govt has the controlling say".
My point is all these Asian Govt owned (or majority owned) entities are setup the same way, i.e. Govt either directly or indirectly through a 100% Govt owned Investment arm like Temasek owns the majority share. All of them are listed on the stock exchange where the balance shares are open to public / private equity. Happens throughout Asia. Korea, China, Japan, India, Thailand, Indonesia, Philippines, Singapore, Malaysia, Vietnam, etc.
However, we all know that other than the share ownership, all these companies operate like any other company, for profit of the shareholder. Nothing like the insidious nature our media like to paint them as.
On whether Australia should have a sovereign wealth fund. It's another interesting topic. I have a slightly different perspective that setting up a govt wealth fund wouldn't really solve our issue on the lack of infrastructure investment. The Govt has directly pumped tax money into AusGrid, NBN, Transport even Telstra. But the performance or ROI is just crap. I feel the main problem is the lack of long term leadership, i.e. in most countries, the govt has a 10/15 year plans and the entities are setup to deliver to the plan. Any year they dun delivery, the entire management team is kicked-out. But in Australia, govt is only looking at short term soundbites.
Government-owned enterprises create monopolies, is anti-competitive, subject to corruption and the bribery of officials.
Happens throughout Asia. Korea, China, Japan, India, Thailand, Indonesia, Philippines, Singapore, Malaysia, Vietnam, etc.
All of these countries rank low on the CPI. In other words, dodgy as.
https://www.transparency.org/en/cpi@whooah1979: Private owned enterprises also create monopolies, is anti-competitive, subject to corruption and the bribery of officials. Look at who caused the subprime financial crisis that brought the rest of the world into a global recession, Lehman Brothers, Merrill Lynch, Fannie Mae, Freddie Mac, etc. Were any of the executives convicted for causing that ? Nope.
@whooah1979: Singapore is listed as no.4 of the top 5 on the list for most transparent and least corrupt. Does that really mean anything ? It also has it's share of scandals using bribery to conduct business. That's just a fact of how the business world operates. Unless we all live in another reality, this is just the way of the world. That businesses whether it's Govt owned or private are "for profit".
Is there any evidence that Xiaomi is a CCP/Chinese Military corp?
Does Trump present evidence for anything he claims ? 🤣
"Xiaomi’s presence on this blacklist simply prevents investors based in the US from investing in Xiaomi. It won’t affect Xiaomi’s supply chain and won’t prevent US-based firms from selling equipment and materials to Xiaomi.It will, however, cause Xiaomi’s stock to drop. It will also cause the company to lose a lot of liquid capital, as American investors will need to sell their stock in Xiaomi by November 11, 2021"
Source : Android Authority
Xiaomi stock has already taken a hit today.