“One area where the Biden administration has set itself apart is in sending weapons to partner countries, and now we’re getting a more complete picture of what the US is sending Israel in the weeks since October 7.
Since Russia invaded Ukraine in February 2022, the US has ramped up its previously minimal military aid to the country to an unparalleled $46.7 billion. Ukraine towers over the other major recipients in bar charts of US security assistance for 2022 and ’23. The US is sending so many munitions there that it has apparently strained American factories and led to a whole-of-government effort to revive military supply chains.
The US is also accelerating arms transfers to Israel in response to Hamas’s October 7 attacks that killed 1,200 people and resulted in the kidnapping of more than 200. Last month, President Joe Biden announced from the Oval Office that he would seek “an unprecedented support package for Israel’s defense” of $14.3 billion. “We’re surging additional military assistance,” he added.
But while Ukraine has never been a traditional recipient of heavy military aid, the US’s most recent support of the Israeli military builds on a long bipartisan American practice. Israel has received about $3 billion annually, adjusted for inflation, for the last 50 years, and is the largest historical recipient of US security aid. The Obama administration in 2016 announced the biggest security assistance package to the country ever, pledging $38 billion for Israel over the next decade. US support has ensured that Israel maintains its qualitative military edge over neighboring Arab countries by having more advanced weapons systems, something Congress wrote into law in 2008.
Israel would not be able to conduct this war without the US, which over time has provided Israel with about 80 percent of the country’s weapons imports.”
“Austria’s continued reliance on Russian natural gas, which accounts for about 55 percent of the country’s overall consumption. Though that’s down from 80 percent at the beginning of 2022, Austria, in contrast to most other EU countries, remains dependent on Russia.
Confront an Austrian government official with this fact and you’ll be met with a lengthy whinge over how the country, one of the world’s richest, is struggling to cope with the economic crosswinds triggered by the war. That will be followed by a litany of examples of how a host of other EU countries is guilty of much more egregious behavior vis a vis Moscow.
The unspoken, if inevitable, conclusion: the real victim here is Austria.
The myth of Austrian victimhood has long been a leitmotif of the country’s bilious tabloids, which serve readers regular helpings of all the ways in which the outside world, especially Brussels and Washington, undermines them.”
“most Austrians only see the upsides to neutrality; yet that’s only because the West has refused to impose any costs on the country for freeriding.”
“Much of the banter surrounding the rise of China’s electric vehicle (E.V.) industry and the implication for the global economy is misleadingly alarmist. When our government gets involved in such narratives, it calls into question the sincerity of its insistence that E.V.s are essential to an existential battle against climate change. If China’s foray succeeds, the world gets cleaner cars and non-Chinese automakers are obliged to improve their own products.”
“any related national security concerns are often rooted in misconceptions about the technologies themselves. It’s important to differentiate between civilian and military technologies. E.V. manufacturing primarily involves civilian tech that’s unlikely to have significant national security implications.”
“Kim had met President Vladimir Putin and visited key military and technology sites, underscoring the countries’ deepening defense cooperation in the face of separate, intensifying confrontations with the West. U.S. and South Korean officials have said North Korea could provide badly needed munitions for Moscow’s war on Ukraine in exchange for sophisticated Russian weapons technology that would advance Kim’s nuclear ambitions.”
“Biden declared a new national emergency and immediately used it as the justification for creating a new screening system that will limit Americans’ ability to invest overseas.
The new rules, which have been in development since last year, will prohibit private equity and venture capital firms from investing in China-based businesses working in a variety of high-tech fields”
“Narrow or not, this is the first time that the U.S. government has targeted outgoing investments in such a manner.”
“There are only two other countries—South Korea and Taiwan—that have outbound investment screening systems”
“it isn’t a time of plenty in the breadbasket of Europe, and not only because Russia, for now, says it won’t continue the arrangement it made with the United Nations and Turkey that for a year permitted 32 million tons of Ukrainian grain to be exported from the country’s massive southern ports. The present war has stunted Ukraine’s grain industry at every stage, beginning months before harvest time.
Though blessed with an abundance of wheat-friendly chernozem — the Russian term for “black earth” — most Ukrainians fertilize their soil. “There’s a great shortage of nitrogen fertilizers,” says Denis Tkachenko, who helps run a trade association of Odesa region farms including about 12,000 acres. Fertilization means more grain enriched with the proteins enabling wheat to be baked into bread; poorer crops can be sold more cheaply for animal feed.”
“there are many fewer fields. More than a quarter of Ukraine’s grain country lies east of the Dnieper River, and has been controlled or threatened by Russia since the February 2022 invasion. Even in the relatively safe southwest, the Ukrainian military has commandeered — thereby disabling — a lot of farmland. Tkachenko says that about 3 to 5 percent of the fields in his region were fortified early in the war against a possible Russian sea invasion. Another farmer in the area tells me that a third of his nearly 10,000 acres have been used for trenches, mining and the like.”
“”China will impose export restrictions on industrial products and materials containing gallium and germanium from August 1 to ensure its national security and interests,” China Daily, a mouthpiece for the Chinese Communist Party, announced this week. “According to the relevant provisions of China’s Export Control Law, Foreign Trade Law and Customs Law, gallium, which is used in the production of semiconductors and optoelectronic devices, and germanium, an important raw material for the semiconductor industry, as well as their related products, cannot be exported without permission after July. Export of other industrial materials such as gallium nitride, gallium oxide and zone-refined germanium ingot have also been prohibited.”
That’s a big deal because, according to the Observatory of Economic Complexity, “in 2021 the top exporters of Gallium, germanium, hafnium, indium, niobium (columbium), rhenium and vanadium: articles thereof, unwrought, including waste and scrap, powders were China ($170M), Chinese Taipei ($53.2M), Germany ($52.4M), Brazil ($43.1M), and South Korea ($32.4M).” China alone is responsible for 29.4 percent of the total (the U.S. is also an exporter, with a 5.47 percent share.)
Specifically breaking out the two restricted minerals, Reuters adds that China produces roughly 60 percent of the world’s germanium and 80 percent of gallium. So, there’s a lot at stake here for computer chip producers and for governments trying to promote domestic producers at the expense of Chinese competitors.”
How Tariffs and the Trade War Hurt U.S. Agriculture Alex Durante. 2022 7 25. Tax Foundation. Tracking the Economic Impact of U.S. Tariffs and Retaliatory Actions Erica York. 2022 4 1. Tax Foundation. Lessons from the 2002 Bush Steel Tariffs Erica York.