Central Banks Are Driving Us Toward A Stagnant Global Zombie Economy
A new op-ed in Bloomberg Quint has noted what the United States should really be worried about regarding Beijing’s intentions after a year of tense China-US Navy encounters in the South China Sea. This potential threat, which is “far harder to discern,” involves the world’s some 380 underwater cables carrying more than 95% of all data and voice traffic between the continents. Could China be stealthily hacking them? It is certainly now in a better position to do so. The piece details how the Chinese conglomerate Huawei Technologies — already at the center of a broader US-China dispute over theft of trade secrets and unlawful dealings with sanctioned regimes like Iran — now has contracts to construct or improve nearly 100 submarine cables globally.