Ren Zhengfei, Sleepmore in Seattle, Bernie Sanders, Karl Lagerfeld
Marc Ross Daily
February 20, 2019
Curation and commentary from Marc A. Ross
Reporting from Alexandria, Virginia
Marc Ross Daily = News + Analysis at the Intersection of Globalization + Disruption + Politics
TOP FIVE
✔️ The US cannot crush us, says Huawei founder
✔️ Has Narendra Modi been good for business?
✔️ Farms under the sea could feed the world in 2050
✔️ “Sorry, I’m just trying to get some ranch"
✔️ The Future of Capitalism by Oxford economist Paul Collier
ROSS RANT
"I remember Apple breaking into the creative world. Bringing them out of tech and Tomorrow’s World and into cool." -- Vicki Maguire, chief creative officer, Grey London on Apple '1984.'
GLOBALIZATION
The US cannot crush us, says Huawei founder: BBC reports, Ren Zhengfei described the arrest of his daughter Meng Wanzhou, the company's chief financial officer, as politically motivated. The US is pursuing criminal charges against Huawei and Ms Meng, including money laundering, bank fraud and stealing trade secrets. Huawei denies any wrongdoing.
"There's no way the US can crush us. The world cannot leave us because we are more advanced. Even if they persuade more countries not to use us temporarily, we can always scale things down a bit."
Germany follows UK in casting doubt on US Huawei ban: Nikkei reports, allies not convinced on security threat as 5G rollout looms.
Shanghai to launch first 5G railway station.
China to Combine Africa, Latin America investment funds: Caixin: two Belt and Road-focused funds under foreign exchange regulator to get unified management.
North vs South
Trump eases off hard deadline for China tariffs: WSJ repports, Trump gave his firmest indication yet that the U.S. may not increase tariffs on Chinese goods on March 1, despite statements by his top trade official that the US should stick to a firm deadline.
Reuters: Amid trade talks, China urges US to respect its right to develop, prosper
FX pledge sought as part of deal for Trump and Xi to consider: Bloomberg reports, the US is asking China to keep the value of the yuan stable as part of trade negotiations between the world’s two largest economies, a move aimed at neutralizing any effort by Beijing to devalue its currency to counter American tariffs.
China’s Vice Premier to Washington to chat trade deal: Liu He will hold two-day talks with US negotiators starting Thursday. Vice Premier Liu He scheduled to meet U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Feb. 21-22.
As China talks resume, Trump seeks a win on trade: WSJ reports, as trade negotiations with China resume, the Trump administration is racing to strike a deal that will result in long-term reforms—and prove that tariffs are an effective battering ram to open markets around the world.
Gary Greenberg: Will 2019 see an end to ‘Made in China’? US-China relations continue to be tense and superpower rivalry is here to stay.
"The ongoing US-China trade war and subsequent spotlight on the MIC2025 strategy is merely a symptom of the rising strategic competition between the two nations. The Chinese cannot and will not make the wholesale changes in their political economy that the US is demanding."
China's antics in South China Sea could change deployments for US troops: Military.com reports, the US military is eyeing new spots in the Asia-Pacific region where it could forward-deploy troops and equipment to counter China's rise, the top commander overseeing operations in that region said this week.
Joseph Nye: China will not surpass America any time soon: Exaggerated fears about growing Chinese power are counter-productive.
"No country — including China — is about to usurp the US’s place in the world in terms of overall power."
"If the US were to maintain its alliances, the prospects are slight that China could drive it from the western Pacific, much less dominate the world."
Alexander Görlach: Xi Jinping is taking China down a dangerous path: As the world focuses on developments in China's coastal regions, the one-party state is flexing its totalitarian muscle in the northwest of the country. We should not look the other way.
Shuli Ren: The US, not China, is the real currency manipulator: The yuan has been tracking the dollar, so any volatility begins at home in Washington.
Michael Schuman: Why the US and China Can’t Make a Deal: They’ve turned trade talks into a test of strength, and both are overestimating their own.
Trump + Kim = Meeting number two: Washington and Pyongyang have dispatched several teams to Vietnam ahead of the summit in Hanoi on February 27-28.
End-of-war declaration in sight, but N Korean denuclearization still appears a long shot.
US weighs opening liaison office in North Korea: WSJ reports, the proposal, likely part of a package, comes as President Trump prepares to meet later this month with North Korean leader Kim Jong Un.
Pyongyang ain't Paris.
Has Narendra Modi been good for business? Tough reforms have recharged confidence, but protectionism and demonetization stain his record. https://s.nikkei.com/2SMtMfT
The Times: Eighth Labour MP quits, blaming ‘Corbyn culture of antisemitism’
Brexit = 37 days
Nicola Sturgeon has told French politicians that Scotland must vote for independence because the UK is incapable of accommodating Scottish views.
This city once ruled the Mediterranean. Now it’s eyeing a comeback: In the wake of tragedy, Genoa’s mayor sees an opportunity.https://bloom.bg/2SKuAC0
The Italian Tourist Board spends an astounding 98 percent of its budget on salaries.
Only 13 percent of tourists who come to Italy go to the Mezzogiorno, as the south is known.
Party that promised to clean up Italian politics finds it a messy business: WSJ reports, Italy’s 5 Star Movement rose from a grass-roots campaign against political corruption to an election-winning party. The realities of life in government since last summer, however, are putting it under growing strain.
Italy’s Renzi insists Europe’s populists will not last: FT reports, centrist former PM hails Emmanuel Macron and laments Rome’s loss of influence.
DISRUPTION
The ocean is the new farm: Farms under the sea could feed the world in 2050 (video): http://bit.ly/2SQzde0
30 legendary startup pitch decks: http://bit.ly/2SMNA2C
Stomach-churning challenges: Greenhouse gas emissions from livestock are presenting the food industry with many challenges. Here’s one: gassy cows. “Burping cows are more damaging to the climate than all the cars on this planet,” Barclays said in a report.
Sleepmore in Seattle: A study in Seattle shows the power of starting the day later. The study is already having an impact. School boards in Orlando and Philadelphia are already looking at this example to see if it should make similar changes. In France, backed by advocates pushing the study’s findings, Parisian teenagers will be allowed an extra hour’s sleep before school in a move to improve their health.
South Korea’s cosmetics industry takes aim at the super young: WP reports, the effort by the industry — known as K-beauty — to reach out to girls as young as 4 is stirring concerns that touch on many core social debates in South Korea, a country that is famous for its exacting beauty norms and has one of the highest rates of plastic surgery in the world.
POLITICS
NYT: Inside Trump’s two-year war on the investigations encircling him
A Times examination revealed the extent of President Trump’s sustained, secretive assault on the machinery of federal law enforcement.
Trump’s efforts have exposed him to accusations of obstruction of justice in the inquiry by the special counsel.
Judge Andrew Napolitano on FNC: If NYT report is accurate, Trump may be implicated in attempted obstruction.
Biden’s polling lead shaky ahead of 2020 decision: Politico reports, new surveys question whether the former vice president is a real front-runner or just has big name-recognition.
@nytimes: Breaking News: Senator Bernie Sanders is running for president again, saying his 2016 policy ideas now have support from many more Americans
Bernie's cash: Sen. Sanders (I-VT) raised more than $4 million on Tuesday from almost 150,000 individual donors after announcing another White House run, according to his campaign.
Politico: ‘Are you with us?’: Bloomberg calls in his chits
The billionaire looks to his philanthropic network for support as he considers 2020 bid.
Michael Bloomberg’s philanthropy has given away $6.4 billion and earned the love and respect of progressive-minded activists across the country.
LAT - Editorial: Relax: Bernie Sanders and the Democrats aren't trying to turn the US into Venezuela
Election 2020 campaign mantra: “Sorry, I’m just trying to get some ranch"
The campaign trail for president is just one long slog to get better condiments.
So you’re running for president in 2020 — now what? A guide to campaigning in South Carolina: Post and Courier reports, not only does the Palmetto State get to call itself the first-in-the-South primary, it will also be a pivotal test for the most diverse field of Democratic candidates in history. And it will happen on Feb. 29, 2020 — just three days before Super Tuesday when California, Massachusetts, North Carolina, Texas and a slew of other states weigh in on who they want to keep running.
LAT: Trump administration to cancel $929 million in California high-speed rail funding
Veep (2019) final season - official trailer http://bit.ly/2SIDa4e
THOUGHT LEADER TACTIC OF THE DAY
Get interviewed on a podcast - do this five times in 2019
COMMERCE
Ericsson chief warns Huawei fears will add to Europe’s 5G delay: FT reports, Focus on Huawei, regulation and high costs risk region falling further behind, says Börje Ekholm.
Hong Kong Disneyland posts $6.88 million loss in last fiscal year, its fourth straight year in the red.
Can capitalism be fixed? In his new book, The Future of Capitalism, Oxford economist Paul Collier lays out a path to restore the ethical foundations of the free-market system in the US and Europe. http://bit.ly/2SNylXt
"The US economy is on the verge of its longest expansion ever, and unemployment sits at a half-century low. Yet public discontent remains high. More than 60 percent of Americans think the country is on the wrong track."
"Europe and the US as riven with geographic, educational, and moral ruptures that have eroded a sense of common destiny. Economic gains, are increasingly monopolized by degree-carrying urbanites whose distinctive morality privileges minorities while less educated rural dwellers languish."
Holman Jenkins: Airbus’s lesson for young socialists: Its A380 debacle shows how hard it is for state planners to outguess markets.
$28 billion = The size of the US toy industry.
Amazon said it aims to make sure that half of its shipments are carbon neutral by 2030.
Apple to target combining iPhone, iPad, and Mac apps by 2021.
Glencore vows to cap global coal production: FT reports, trading and mining group has faced investor pressure over polluting fossil fuel.
CULTURE
Karl Lagerfeld, the prolific fashion designer who turned around the fortunes of Chanel and Fendi, has died in Paris.
@voguemagazine: Karl Lagerfeld, one of the most prolific and widely popular designers of the 20th and 21st centuries, has died in Paris at 85.
RIP Karl Lagerfeld: Eccentric fashion designer known as ‘Kaiser Karl’ who reinvented Chanel.
AFP: New Universe map unearths 300,000 more galaxies
Lara Logan, who joined CBS News as a foreign correspondent in 2002, left the network last year.
SPORT
The Daytona 500 earned a 5.3 rating and 9.2 million viewers on FOX, per Nielsen fast-nationals — flat in ratings and down 1% in viewership from last year (5.3, 9.3M) and down 20% and 23% respectively from 2017 (6.6, 11.9M).
Chelsea has reportedly identified Derby County manager Frank Lampard and Real Madrid boss Zinedine Zidane as potential replacements for Maurizio Sarri.
Manchester City's owners have bought a stake in Chinese third-tier club Sichuan Jiuniu FC - their 7th club.
Soccer Matches: Champions League - Round of 16 - Leg 1 of 2:
Atletico Madrid v Juventus @ 3:00 pm ET
Schalke 04 v Man. City @ 3:00 pm ET