Wednesday, February 22, 2023
Manufacturing In China And Exporting Globally "No Longer Viable": Kyocera
“It works as long as [products are] made in China and sold in China, but the business model of producing in China and exporting abroad is no longer viable,” Hideo Tanimoto, president of Kyocera, said in an interview with the Financial Times. “Not only have wages gone up, but obviously, with all that’s happening between the United States and China, it’s difficult to export from China to some regions.”
Kyocera is building its first factory in Japan in almost 20 years.
On Oct. 7, 2022, the U.S. Department of Commerce announced new export restrictions on chip manufacturing and advanced semiconductors in a bid to prevent American technology from being used in the development of the Chinese military.
Tanimoto admitted that the U.S. export controls were a reason why the firm cut down its operating profit forecast for the year by 31 percent. Kyocera commands a 70 percent market share globally in ceramic components used in chip-manufacturing equipment.
“If chip equipment makers stop shipments to China, our orders will be somewhat affected … They are now even [being] asked not to ship their non-cutting-edge tools,” Tanimoto said.
Back in 2019, when the Trump administration had imposed tariffs on China, Kyocera had moved the manufacturing of copiers for the U.S. market from China to Vietnam.
Moving Production Out of China
Many companies have moved production out of China or plan to do so. In April last year, for example, Apple began manufacturing its iPhone 13 in India at a site owned by Foxconn, its Taiwanese contract manufacturer. In addition, Apple is sending the production of iPads and AirPods to Vietnam.
Samsung shifted production to Vietnam back in 2019. The company has also decided to manufacture its flagship Galaxy S23 smartphones in India for local sale. Amazon has shut down its Kindle facility in China and now produces FireTV devices in India.
Footwear brand Dr. Martens has been reducing its manufacturing dependence on China. Since 2018, the company has shifted 55 percent of total production out of the nation.
“The big message is reducing reliance on China,” Dr. Martens’ chief executive Kenny Wilson said in November, according to the Financial Times. “You don’t want all of your eggs in one basket.”
Declining Investment in China
An analysis by Investment Monitor, a network of B2B websites, shows that greenfield foreign direct investments (FDIs) in China have been falling over the past few years.
Greenfield investment is a type of FDI whereby a parent company sets up a subsidiary in a different nation and builds its business from the ground up, including setting up production facilities, offices, distribution hubs, and so on.
In 2022, greenfield FDI levels into China had halved compared to 2019, according to...
The 90 Miles Mystery Video: Nyctophilia Edition #1301
Before You Click On The "Read More" Link,
Please Only Do So If You Are Over 21 Years Old.
If You are Easily Upset, Triggered Or Offended, This Is Not The Place For You.
Please Leave Silently Into The Night......
The 90 Miles Mystery Box: Episode #2001
You have come across a mystery box. But what is inside?
It could be literally anything from the serene to the horrific,
from the beautiful to the repugnant,
from the mysterious to the familiar.
If you decide to open it, you could be disappointed,
you could be inspired, you could be appalled.
This is not for the faint of heart or the easily offended.
You have been warned.
Tuesday, February 21, 2023
Republicans Say Air Force Released Their ‘Sensitive Data’ To Dem Operative
A researcher for the consulting firm Due Diligence Group requested Bacon’s service records, saying he needed them for “employment and benefits.” The Air Force does not believe that any Air Force employee acted with “malicious intent,” Major General Troy Dunn wrote in a Feb. 7 letter to Bacon. The Air Force began investigating the alleged leaks after the branch improperly released the service records of GOP candidate and veteran Jennifer-Ruth Green to the Due Diligence Group, Politico reported Tuesday.
“I understand the evidence has been turned over to the Department of Justice and I expect those who break the law to be prosecuted,” Bacon told Politico. “This was more than just ‘dirty tricks’ by Democrat operatives, but likely violations of the law.”
“The recent targeting of Members of Congress’s personnel military records [and] the breach of sensitive data … taken by political hacks isn’t only a violation of public trust — it’s criminal,” Nunn added.
The Air Force’s letter to Bacon named Abraham Payton, an analyst with the Due Diligence Group, as the individual who improperly requested Bacon’s information. Payton had access to Bacon’s Social Security number, according to the letter, and the branch subsequently released information to him that should have been protected by the Privacy Act of 1974.
Twelve Air Force veterans, including Bacon and Nunn, currently serve in the House of Representatives. The Air Force did not respond to the Daily Caller’s request for comment on whether or not the eight unnamed individuals whose records were released ran for the House during the 2022 midterms. Air Force spokeswoman Ann Stefanek told Politico that “virtually all” of the records were released to...
Biden's Inflation Is Crushing the Middle Class, No Matter What Stupid Lies He Tells
At least I’m not in the market for a new car, something most Americans used to look forward to, but which is increasingly out of reach for millions. Fortune reported last week that “new cars are now toys for the rich,” as “the average price for a new vehicle in the US has jumped to almost $50,000.”
That’s up 30 percent since just 2019. Worse, rising interest rates — a harsh necessity to tame inflation — have caused monthly payments to rise even faster. That shiny new car you might have had your eye on will now cost an eye-watering $777 in base payments alone.
“Every aspect of buying and owning a car has gotten more expensive and outpaced the rate of inflation so it’s important to be more knowledgeable,” CarEdge expert Zach Shefska told Buffalo’s WHRZ News last week.
The average monthly loan payment for a used car is up to $544. As a young lad of 19, way back when, I once spent $700 on a good enough used car, if barely. Not $700 monthly. Total.
There is a silver lining to Biden’s dark cloud of inflation — if you’re a car manufacturer, that is. Car sales might be down — 8% since 2021 — but profits are going nowhere but up. “Ford’s gross profit rose 4.4% in 2022 from a year earlier,” according to that Fortune report, “while GM’s adjusted earnings grew by about $200 million to reach $14.5 billion.” Tesla made an annual profit of $12.6 billion in 2022, with revenues up 51 percent over 2021, “despite missing its sales forecast.”
Must be nice.
Did you want to fill’er up, too? Gas prices are “primed to rise in a few weeks,” according to GasBuddy. They’re already on the way up in the West where I live. Here in Colorado, the average price for a gallon of regular is back up over $4 after briefly dipping to around $3 last year. Californians are closing in on $5 once more, already at nearly $4.75.
Somehow though, a gallon of gas in California is still less than a dozen eggs almost anywhere. “The average price of a dozen large Grade A eggs ran at $4.82 in January,” according to the Bureau of Labor Statistics last week. Not only are those eggs more expensive than the most expensive gallon of regular in the country, it’s more than the price for a pound of ground beef — that’s the first time eggs have eclipsed ground beef since BLS started tracking those prices more than 40 years ago.
In states like Colorado, where Democrats have passed strict laws regulating how chickens are kept, prices are even higher. My local Kroger-owned grocery store’s house-brand large white eggs are $4.99. Jumbo size will cost you more.
Home price inflation continues, albeit more slowly than before. Prices rose “only” 7.7 percent annually last November, down from October’s hectic 9.2 percent annualized increase. Nevertheless, monthly payments are going up unabated — just like monthly car payments — due to rising interest rates. “Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate rose to 6.32% from 6.12% last week,” according to ABC News. “The average rate a year ago was...
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