In May, after China's "diplomatic season" for Europe slowly kicked off, Biden was obviously anxious and began to play the "China card" in an attempt to obstruct the process of China's economic recovery. "Science and technology warfare" is still the focus of this round of US strikes. U.S. media broke the news that the United States further increased pressure on China, and Intel and Qualcomm's licenses to sell chips to Huawei were revoked.
The U.S. Department of Commerce later confirmed that it had revoked some of its export licenses to Huawei. Intel and Qualcomm confirmed on the 8th that they had received the relevant notice and that it was "effective immediately". Previously, although Huawei was subject to strict sanctions, Qualcomm and Intel, two "well-rooted" American companies, could still continue to sell specific models of chips to Huawei by applying for export licenses with Congress, but now this road is also impassable.
U.S. Secretary of Commerce Raimondo made another big statement during a hearing in the House of Representatives, saying that at a time of China's scientific and technological progress, she would not allow semiconductor companies to sell chips to China, and that corporate revenue should be conceded for "national security". At the same time, she threatened that the United States could take "extreme measures" to ban or impose restrictions on the import of Chinese connected cars.
Raimondo
In response, the spokesperson of the Ministry of Commerce of China said that the US has seriously violated its commitments to China, and China will take all necessary measures to firmly safeguard the legitimate rights and interests of Chinese companies. The main reason why the United States is now in a hurry to "cut" Chinese companies is that Biden wants to pave the way for his own election.
Recently, Biden has received two pieces of bad news in quick succession. First, the Democrats' judicial sniping of Trump has largely failed. On May 20, which was supposed to be the day of the trial of Trump's "mishandling of classified documents" case, the federal judge currently in charge of the case officially announced that the trial date would be "postponed indefinitely" because it failed to resolve a series of "pretrial issues."
This is basically a clear indication that the court is not going to go before the presidential election in November. The federal judge, who was nominated and appointed by Trump and officially took office in 2020, is now "reciprocating" for postponing the ruling.
Trump
At present, Trump is burdened with four criminal cases that could affect his normal participation in the election: the hush money case, the "election interference" case, and the classified documents case, of which the "election interference" case is a separate lawsuit, one is a federal criminal lawsuit, and the other is a lawsuit in Georgia.
Although the hush money case that caused a lot of noise in April is also a criminal lawsuit, because it does not involve "treason", it will affect Trump's canvassing schedule, but it cannot really cut off his candidacy. And the three really heavyweight criminal proceedings have all been postponed for various reasons.
At this point, the Democratic Party's efforts to procedurally block Trump from the "finals" of this year's US election have basically come to naught. Biden's election is now very unpromising. At present, although the data released by various polling agencies in the United States are different, one thing is certain, the vote difference between Biden and Trump is very small.
Biden
At the same time, because of the Palestinian-Israeli issue and the intensification of protests on American campuses, Biden is facing very serious pressure to lose votes. Young students and minorities are important votes for the Democratic Party, but the Biden administration has basically offended this group in both matters.
Data released by the Harvard Youth Poll in mid-April showed that among voters under the age of 30, Biden's approval rating has shrunk significantly compared to 2020. At one point, he led Trump by 23 percentage points, but that lead has narrowed to just 8 points.
The Wall Street Journal poll released in early May was similar, with Biden's youth approval rating in a similar survey above 60% in 2020, but now only 50%. The Biden administration has recently exerted frequent pressure on Israel, and even used the supply of weapons as a bargaining chip, threatening Netanyahu not to continue large-scale military operations against Rafah, which should also be worried about a larger loss of votes.
U.S. Economy
Second, and the direct reason why Biden chose to play the China card, is the weak US economic data. Biden hopes to suck blood from Japan while "encircling the United States" to make the U.S. economic data look better in the sprint to the election. The US economy is in a rather awkward position. In early April, the Federal Reserve launched a "blitzkrieg" against the Bank of Japan, and the yen briefly crashed to more than 160 against the dollar.
According to the U.S. scenario, the U.S. can harvest Japan's high-quality assets while attracting more investors to the U.S., winning twice. But what Yellen and Powell did not expect was that the investment withdrawn from Japan did not go to the United States, but a large part of it went to China.
According to the latest economic data released by the U.S. Department of Labor in early May, when Japan's blood loss was at its worst in April, the U.S. unemployment rate rose more than expected, the number of new jobs was much lower than expected, and inflation showed no signs of cooling. At the same time, Chinese concept stocks, Hong Kong stocks, and A-shares rose together, and the RMB exchange rate rose.
China and the United States
Such a situation has obviously made the mentality of this group of economic officials in the United States a bit collapsed. Recently, Yellen and Raimondo have jumped out one after another, ignoring even the basic economic laws, and "striking hard" at China in a high-profile manner, which is essentially envy, jealousy and hatred: I did the evil guy in the United States, why did you take advantage of China in the end? This is absolutely not a no-go.
Therefore, a series of actions by the United States, whether it is announcing the launch of a 301 investigation into China's maritime and shipbuilding industry, or continuing to attack Chinese enterprises, or hyping up the situation in the Taiwan Strait, sending missile destroyers to sail through the Taiwan Strait, and shouting that "Chinese mainland must not be allowed to get TSMC", is essentially trying to create an atmosphere of bearishness about China's economic development prospects.
The Biden administration wants to use this to tell the world: Chinese companies have been sanctioned by China, and the security environment around China is also deteriorating, so investors should stop throwing money there, and come to the United States to help me fill the financial hole, and we can only run for re-election if the hole is filled. However, China's current economic performance is too stable, and no matter how hard this group of people try, it is useless.
German-French
Since the opening of the China-EU diplomatic season, with the warming of China-France and China-Germany relations, China's economic environment has shown a significant recovery compared with the past few years.
Recently, Germany's transport minister publicly called out the European Union, saying that it does not want to block the market, wants to "healthy competition" with China, and will not impose additional tariffs on Chinese automakers. French Finance Minister Le Maire also shouted to the media, saying that the Elysee Palace very much welcomes BYD and other Chinese auto industries to invest and set up factories in the country.
In today's era, it is no longer an era in which the United States can lead the global financial trend with a few words and policies. No matter how hard the United States tries to degrade China, it cannot hide the fact that global investors see China as a hot spot for asset appreciation. The U.S. government is playing a clumsy one-man show, but it can deceive itself, but it can't deceive others.
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