Despite claims of making good progress in trade talks, there is no let-up in the US economic war on China. In the latest development, the CIA accused Huawei of receiving funding from China’s National Security Commission, the People’s Liberation Army and a third branch of the Chinese state intelligence network.
Whether Uncle Sam's accusation is true has yet to be substantiated. One unique characteristic of Uncle Sam, however, is that he always criticises others but never cares to look at himself in the mirror. Taking another analogy, when a monkey looks for fleas on the bodies of other monkeys, it forgets about the fleas on its own body. The US intelligence needs not look for state-funded companies far away in other countries. It can easily find a lot of such companies nearby in its own country.
One way or the other, many US companies (e.g. Boeing) obtain government contracts, state funds or subsidies from "the United States of subsidies".
The single largest contractor for the federal government in 2016 was Lockheed-Martin (NYSE: LMT), which raked in more than $43 billion in contracts last year (2016). That was far more than any other contractor received: No. 2 Boeing (NYSE: BA) hauled in just $26.5 billion in contracts.
According to the government's Federal Procurement Data System (FPDS), 58 companies received at least $1 billion worth of government contracts last year, with the top 100 contractors getting over $262 billion combined. What might be surprising is just how dependent some companies are on government spending for their existence.
What does Uncle Sam hope to gain by accusing others of something which he himself is guilty of? Before Uncle Sam accuses others of subsidizing or funding their own companies, he had better look at himself in a puddle of water if he cannot find a mirror.
Whether Uncle Sam's accusation is true has yet to be substantiated. One unique characteristic of Uncle Sam, however, is that he always criticises others but never cares to look at himself in the mirror. Taking another analogy, when a monkey looks for fleas on the bodies of other monkeys, it forgets about the fleas on its own body. The US intelligence needs not look for state-funded companies far away in other countries. It can easily find a lot of such companies nearby in its own country.
One way or the other, many US companies (e.g. Boeing) obtain government contracts, state funds or subsidies from "the United States of subsidies".
The single largest contractor for the federal government in 2016 was Lockheed-Martin (NYSE: LMT), which raked in more than $43 billion in contracts last year (2016). That was far more than any other contractor received: No. 2 Boeing (NYSE: BA) hauled in just $26.5 billion in contracts.
According to the government's Federal Procurement Data System (FPDS), 58 companies received at least $1 billion worth of government contracts last year, with the top 100 contractors getting over $262 billion combined. What might be surprising is just how dependent some companies are on government spending for their existence.
What does Uncle Sam hope to gain by accusing others of something which he himself is guilty of? Before Uncle Sam accuses others of subsidizing or funding their own companies, he had better look at himself in a puddle of water if he cannot find a mirror.
