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A Prisoner of Trade War

Both sides of the American-Chinese trade war are now declaring a temporary cease-fire and trying to calm the global stock markets, but the arrest of someone named Meng Wanzhou, who is the chief financial officer of some Chinese company called Huawai, seems likely to complicate the armistice negotiations.
We’re embarrassed to admit that we’d not previously heard of of Huawai, which has only a tiny share of America’s lucrative “smart phone” market, but it’s apparently such a major player in the even more lucrative global market that it’s often called “China’s Apple.” Of course we’d also not previously heard of Meng, but apparently she’s the daughter of the Huawai’s founder and its presumptive next chief executive officer, so her arrest on charges of violating export controls and sanctions on Iran and other countries is being likened to China locking up Steve Jobs’ daughter and the presumptive CEO of Apple, which we figure would be a pretty big deal here.
Meng was arrested by Canadian authorities while on business in that country, but it was at the request of American authorities, and her extradition to this jurisdiction will likely be quickly expedited, so the metaphorical ball is now literally in America’s courts. So far as we can tell the charges meet the prima facie standard for an indictment, but most of our allies and President Donald Trump himself also stand credibly accused of playing fast and loose with international sanctions, so we’ll hold to faint hope that America’s judicial branch properly sorts out all the legal issues.
As for the geopolitical and international economic implications, those seem too complex to calculate and too much to hope for. Meng might prove such a formidable bargaining chip that the Chinese fold, to borrow a poker metaphor, but it’s also possible those inscrutable Chinamen will gladly sacrifice a mere daughter to save face, to borrow a grotesquely racist stereotype yet undeniably plausible outcome. Chinese dictator Xi Jinping doesn’t have to worry much about a pesky free press and an independent judiciary and public opinion, and perhaps cares even less about some capitalist pig dog’s daughter, while Trump can only wish for such freedom from constitutional restraints. All of Trump’s casinos went bankrupt despite house odds, and this Xi fellow seems an inscrutably wily Chinaman, if you’ll forgive the poker and racist metaphors, and we don’t expect this Meng woman’s fate to figure too significantly in the outcome.
The American stock markets dropped alarmingly on Tuesday, then took a day off on Wednesday to honor the funeral of President George H.W. Bush and his bygone era of American greatness, and then dipped deeply again on Thursday after the news of Meng’s arrest. By the end of the day the stock markets were reassured by some carefully reassuring language about the generally healthy economy from both XI and Trump and the heads of the Federal Reserve Board and the International Monetary Fund and the rest of the globalist financial establishment, and two of the major indices were largely unchanged and the third was ever so slightly up, so for now the smart money is holding out hope.
We’re holding out hope that things will muddle along, too, but we don’t expect that anyone ever will claim a complete victory.

— Bud Norman

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Taking a Kick at Soccer

We know little about soccer, having grown up on wholesome American games that allow the use of hands, as God and Abner Doubleday intended, but even we knew that the sport’s international governing body is corrupt. It was therefor no surprise to hear that legal action is being taken against them, but we were a bit startled that it was America’s Department of Justice that is doing it.
The Federation Internationale de Football is not based in America, as the foreign name and its galling misuse of “football” would suggest, and so far as we can gather from numerous press reports none of its alleged crimes took place here. Authorities in Switzerland, where the organization is based, and where the alleged crimes seem to have allegedly occurred, and where the populace presumably cares more about soccer than do Americans, are also taking action, so it’s hard to see why America’s legal system should be bothered. All of the 14 FIFA official indicted on charges of racketeering, wire fraud, and money laundering conspiracy are from other other countries, there’s going to be a lot of fuss over extradition, it complicates foreign relations with the numerous countries involved to the point that we have to admit Vladimir Putin has a point when he calls it “another case of illegal extra-territorial implementation of American law,” and none of the bribes they’re said to have accepted for awarding international tournaments seem to have been paid by Americans, who won’t be hosting any FIFA tournaments in the near future in any case, so the only point seems to be cleaning up a sport that few Americans bother to watch.
The smart fellows over at the Powerline web site are avid soccer fans, which strikes us as odd given their usually sound political opinions and excellent taste in music, and they contend that the Department of Justice is still sore that FIFA awarded the 2022 World Cup to Qatar despite the long trip to Zurich and personal lobbying of former Attorney General Eric Holder. It won’t be the least bit surprising if it is eventually proved in court that the Qataris prevailed by means of millions of dollars of illegal bribes, as such things are a feature of Arab culture and there is no other plausible explanation for awarding the world’s most-watched sporting event to such a remote and backwards desert hellhole as Qatar. The country’s pledge to air-conditioned stadia large enough to accommodate a soccer field and many thousands of spectators in the 100-plus degree summers has already been reneged on, the tournament has thus been moved to winter during the middle of the seasons of the professional leagues that supply the players, and the Indian, Sri Lankan, and Bangladeshi laborers who have been imported to build the vast infrastructure that FIFA absurdly requires have died at the rate of one per day. Nor would we be surprised if this is all about Holder holding a grudge, as he always struck as that sort of guy.
Besides, the Obama administration was still smarting from its snub by the International Olympic Committee way back in ’09 when it award its games to Rio de Janeiro over of Chicago. Obama personally flew to Denmark to make the pitch, bringing along Oprah Winfrey, who might or might not be a big deal in Denmark, and giving a speech about how Chicago was his kind of town and recalling how “Nearly one year ago, on a clear November night, people from every corner of the world gathered in the city of Chicago or in front of their televisions to watch the results of the presidential election,” and basically suggested that having the Olympics culminate his eight years in office and welcome the world to his transformed America would give the games new meaning. All the press speculated that of course the deal was already done or no president would put his prestige on the line by making the trip, so when the Olympics went to an even more crime-ridden kleptocracy than Chicago it was the first bad press that the administration got after all the messianic treatment in ’08, and although the loss of the 2022 World Cup went entirely unnoticed we’re sure it still stung.
The blow to Obama’s and Holder’s egos notwithstanding, and despite the lucrative deals that Valerie Jarret’s Chicago buddies would have made preparing for the Olympics, and whatever deals might have been made for a World Cup, these are two games we’re glad America lost. These big international sporting events are lucrative to whatever network makes the sufficient bribes, and they transfix much of the world for a brief time, but they’re usually a severe burden on the communities that get stuck with them and the useless stadia they paid for. Even in soccer-mad Brazil there were riots in response to lavish sums that poverty-stricken country doled out to host the most recent World Cup, and the police are gearing up for more of the same during those ’16 Olympics that Chicago wanted. The only Olympics that we can recall proving profitable for a host was the ’02 winter games in Salt Lake City, and that was due to the organizational skills of Mitt Romney, which the public apparently found less impressive than that soaring “on a clear November night” rhetoric of Obama. The Olympics have lost much of their appeal since the end of the Cold War, not to mention all believable rumors about the IOC’s shenanigans, but they’re still a bigger deal to the real American sports fan than some FIFA contest with a bunch of foreigners kicking a ball around a “pitch” — we know that, too, along with with the corruption of the governing body — to a 1-0 score after some incalculable amount of time.
A country such as Qatar might decide that the millions in bribes and billions in soon-to-be-useless stadia and the daily deaths of Indians, Sri Lankans, and Bangladeshi is well worth the prestige of hosting a highly-rated sports event, along with all the hooligans that soccer somehow always attracts, no matter how remote the backwards hellhole, but we’d like to think the United States of America can still earn its international prestige elsewhere.

— Bud Norman