Il giorno delle locuste di sabato 13/04/2024

·22 min·2 clips

Janet Yellen's velvet words mask a heated commercial war between the US and China over TikTok and technology exports.

The episode opens by framing the week's tensions, both international and national. It immediately focuses on the renewed commercial war between the United States and China, referencing US Treasury Secretary Janet Yellen's recent diplomatic visit. Despite official statements of productive dialogue, the underlying conflict is described as heated, fueled by US actions against TikTok and Chinese plans to restrict technology exports. An opinion from Giuliano Noci is cited, noting the reciprocal protectionist policies. The analysis highlights Yellen's expressed concerns about Chinese industrial overcapacity, particularly its impact on American workers and businesses, and links this to European anxieties over Chinese electric vehicle exports. The discussion pivots to Italy's automotive sector crisis. It details the internal government conflict, with Transport Minister Salvini criticizing the shift to electric vehicles as suicidal while Made in Italy Minister Urso threatens Stellantis with opening the market to Chinese automakers. This is set against Stellantis's ongoing reduction of its Italian production footprint. A stark contrast is drawn with Exor, the Agnelli family holding company, which reported 4.2 billion euros in net profit for 2023 and saw its assets grow significantly. The episode then critiques Italy's recently presented Documento di Economia e Finanza (DEF) for 2024. Professor Alessandro Santoro explains its unusual format, lacking the customary programmatic section that outlines future government interventions. The justification given is the pending definition of the new European Stability and Growth Pact rules. The tendential section shows slowing GDP growth around 1%, a public debt-to-GDP ratio trending upward toward 140%, and a deficit remaining above 3-4%. Key uncertainties for future planning are identified: the eventual European accounting treatment of over 200 billion euros in building tax credits (the superbonus) and the political discretion in applying the new EU pact's debt reduction flexibility. The episode closes by promoting a campaign to defend Italian law 185/90 on arms export controls, announcing a permanent presidium in Rome.

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