Russia impounds Goldman Sachs assets worth 36 million dollars

[Revoltingest]

It is largely myth that China does not honour international patents .

Opinions vary.

China Continues to Fall Short of Promises to Protect Intellectual Property, U.S. Says (Published 2022)

American officials said that they were monitoring China’s progress in meeting the terms of a 2020 trade deal, but that intellectual property owners had expressed concerns.

www.nytimes.com

Until recently Huawei was not charging for use of its 5G patents. Of which it holds the large majority in the field.
If China was not holding to patents then the American high tech restrictions on them woul have no effect. As it is, it has forced them into billions of $ of research and development to create their own supply chains. It is largely in the field of duv chip foundry technology, that they are still behind the Dutch who are the world's sole supplier of leading edge Duv litho machines.

As the USA has banned Huawei from using Google services on their phones. Huawei have developed The Harmony operating system and its own 5G chips, and is once again able to make high end phones. It is the only operating system to cover the entire gamut of devices, natively integrating everything from home devices to cars to super computers and everything in between (the internet of things)
From that point of view it has been a blessing for them in disguise.
(China never has used Google services on the mainland)

China has its own. Equivalent to the GPS navigation system called BeiDeu. and now mostly uses the Petal equivalent to Google maps. You can use Petal on any phone (I have it on mine, and it is equally good and in many respects better.)
Petal is Huawei developed software based on the, Dutch Company, TomTom's data and services.
I do not know if Petal links with the more accurate BeiDou or only uses the older GPS technology.
TomTom is capable of centimeter accuracy in its autonomous driving applications.
.

I use a Garmin Dezl 770.
It's great for planning routes that are safe & legal.

 

[Terrywoodenpic]

Opinions vary.

China Continues to Fall Short of Promises to Protect Intellectual Property, U.S. Says (Published 2022)

American officials said that they were monitoring China’s progress in meeting the terms of a 2020 trade deal, but that intellectual property owners had expressed concerns.

www.nytimes.com

I use a Garmin Dezl 770.
It's great for planning routes that are safe & legal.

I do not have a nytimes account so can not read that article.

However if the intellectual property owners have a case they should pursue it.
There is a difference between patents and intellectual property rights. Which covers any thing from writings and photographs to academic papers.
These are poorly protected anywhere. Even in the USA.

Many American Tec companies have been using Huawei patents with out payment.
To be realistic , patents are a minefield, and often are a barrier to progress, and innovation. They can block entire fields of research and development. This was never their intent.
.

 

[Revoltingest]

Many American Tec companies have been using Huawei patents with out payment.
.

Good.
Honoring patents shouldn't be a 1-way street.

 

[TagliatelliMonster]

And why this Ukrainian War broke out.

Conspiracy mumbo-jumbo

 

[TagliatelliMonster]

I would not choose to live under either.

You failed to answer. If you have to chose one to live under, which one would you pick and why?

 

[Terrywoodenpic]

You failed to answer. If you have to chose one to live under, which one would you pick and why?

I did answer, I said if push came to shove I would probably go with China. though it is not something that I need to decide right now.

China is on the rise and the USA is on a downward spiral, and virtually bankrupt. it would be totally unable to settle its international debts if they were called in.

A majority of countries are already cashing in their US treasury bonds. and moving to Gold and, or, joining BRICS. and some trading in The Yuan or national currencies. There is talk of BRICS establishing a Gold standard trading currency.

 

[Terrywoodenpic]

K

I don't think that potentially losing $36 million will bother Goldman Sachs very much. It's just a rounding error to them.



They want to impose a single world system on the planet. Banking, finance, governance, trade etc. They call it "democracy" and the "rules based order", but of course they and not inferior little voters steer the ship and all the rules are written by them in New York, Washington, Brussels and London, for their own benefit.

Russia is still big enough to matter, especially in the energy and natural resources space. And the Ukraine War and the US/European reaction to it by sanctioning Russia (isolating them from the world system and hopefully bringing Moscow to its knees) is pushing Russia into the waiting arms of China. Together with the BRICS (Brazil, Russia, India, China and South Africa, there's a growing threat of a second Beijing-centric world system emerging with upstart powers writing new rules to suit themselves.

What is the problem with new rules being written or having a new Chinese led world.
It could hardly be worse than the present American dominated one, that sucks in wealth from everyone else and sets the rules for its own benefit.

 

[Terrywoodenpic]

J

Good.
Honoring patents shouldn't be a 1-way street.

It never has been. China honours all patents. And pays American companies billions each year in fees.

However there probably are any number of small companies around the world who both ignore and are ignored by rights holders. It is not worth anyone's while to collect small sums. Even on the large scale Huawei did not bother to collect patent fees from other giant corporations. At best they came to joint sharing patent partnering arrangements. Which benefitted everyone. The companies still wish to continue this arrangement as it prevents bottlenecks in all scientific progress, but are now prevented from doing so by the American government.

 

[TagliatelliMonster]

What is the problem with new rules being written or having a new Chinese led world.

You mean, aside from the authoritarianism, the legalized exploitation of the workforce, the censorship, the zero-tolerance for any and all criticism,... etc?

It could hardly be worse than the present American dominated one, that sucks in wealth from everyone else and sets the rules for its own benefit.

The present china regime does exactly that in exponentially worse fashion.
I don't see nets surrounding american factories to prevent workers from throwing themselves off the roof.

 

[TagliatelliMonster]

China honours all patents.

LOLOLOLOLOL!

You have GOT to be joking!

And pays American companies billions each year in fees.

Tell it to Microsoft. I happen to know this for a fact because I've seen the internal statistics.
About 70% of windows pc's in china use pirated windows. And it's not just consumers.

Ironically that's also what caused the rampant spread of WannaCry in that country. You can't auto-install security patches on pirated platforms, after all...

However there probably are any number of small companies around the world who both ignore and are ignored by rights holders.

But in China it's not just "small companies". It's almost national policy. It's near impossible for a western company to protect your IP in that country, because the country itself doesn't play by the international rules that are required to be able to do so.

It is not worth anyone's while to collect small sums.

70% pirated windows in a country with a popultion of over a billion. This is not "small sums". This is billions and billions of dollars.

 

[Revoltingest]

It never has been. China honours all patents. And pays American companies billions each year in fees.

Is this just an invented controversy?

China Continues to Fall Short of Promises to Protect Intellectual Property, U.S. Says (Published 2022)

American officials said that they were monitoring China’s progress in meeting the terms of a 2020 trade deal, but that intellectual property owners had expressed concerns.

www.nytimes.com

 

[JIMMY12345]

Russian Court Freezes $36 Million in Goldman Sachs’s Assets

A Russian court froze shares of companies worth around $36 million owned by Goldman Sachs Group Inc. after Otkritie Bank claimed it refused to honor a swap contract due to sanctions over the war in Ukraine.

www.bloomberg.com

Now I understand why certain banking and financial élites profoundly hate Putin and his entourage.


They demand to do their activities in Russia too..

You need to read Bill Browder Freezing assets and Red notice. He details how this money is not used for the good of ordinary HONEST Russians but stolen by officials to buy luxury homes and cars. They know if they keep it Russia .When their kids spend it the honest FSB and Ukrainian intelligence will confiscate the lot (as does China and loads of other countries).The money gets sent abroad to shell companies in Nevada and Cyprus etc.THE BOOKS are a must read. One chapter had Putin telling Mr Trump he wanted Browder and the the US Ambassador extradited to Russia. Trump did say the equivalent of saying "Ok Boss" .There are still Republicans and Democrats left who do not roll over and the move was blocked.