https://fortune.com/2019/06/17/ubs-china-pig-paul-donovan/
That one wasn't even anything apparently political, just absurd snowflake-scale sensitivity on the part of a whole country:
Donovan made the “Chinese pig” comment on Wednesday as he attempted to explain why the country’s swine flu outbreak shouldn’t concern investors eyeing the international inflation outlook.
“Does this matter? It matters if you are a Chinese pig,” Donovan said. “It matters if you like eating pork in China. It does not really matter to the rest of the world. China does not export a lot of food. The only global relevance would be if Chinese inflation influenced politics and other policies.”
Somehow the second sentence got interpreted as an insult - or was it just part of a trend of throwing weight around, as you suggest?
One of China’s biggest state-owned infrastructure companies excluded UBS Group AG from a bond deal after the bank’s global chief economist sparked a furor with his use of the phrase “Chinese pig.”
The comment was condemned by two Communist Party publications and by trade groups representing Chinese brokerages. Haitong International Securities Group, which competes against UBS for China-related business, said on Friday that it had suspended its activities with the bank.
Honestly, having watched this sort of stuff for years my own business interest in China is dead. Yes, it's a big market. But you can live very comfortably serving the rest of the world. Facebook and Google are banned there, they still mint more money than they can spend. Ignoring that market completely seems like a recipe for a much simpler life.
There's just no sensible explanation for why anyone would get upset by that statement.
what about sourcing manufacturing?
this is the crux.
Instead, we've played ourselves for absolute suckers, and as China's economy and military muscle continues to rapidly expand and the rest of the world is increasingly dependent on its products and markets, they're beginning to throw their weight around. All the pearl-clutching over Trump's tariffs and attempt at a renewed industrial policy (however poorly executed) elided the question of what exactly anyone else was proposing to do, with the default being the continuation of business-as-usual.
People need to wake up and realize China is a far greater geopolitical threat than the USSR ever was. They have a massive population and they've melded together free-ish market strategic industrial capitalism with a totalitarian panopticon state unlike anything the world has ever seen. Their military is rapidly catching up with if not in some areas surpassing our own, and we're sitting on our asses arguing over idiotic domestic squabbles assuming the unipolar post-cold war world will continue on forever. Because Muricuh!
Frankly, thank god this is finally bleeding out into popular culture, because maybe average citizens will start to realize what a straight-line projection of our current situation is going to look like in a decade or two.
orr.. gotten over the sino-soviet split and bolshevized europe and latin america, leaving the US without a leg to stand on geopolitically.
We had the Blizzard/War of Omens thing [1], and the Houston Rockets remark being rescinded [2], and the South Park cancellation [3], and now this, all in the span of about a week.
[1] https://www.cnet.com/news/blizzard-removes-blitzchung-from-h...
[2] https://www.cnbc.com/2019/10/07/houston-rockets-gm-morey-del...
[3] https://www.reddit.com/r/worldnews/comments/dek3kl/south_par...