Trump Trade War Backfires Again, China Sanctions Lockheed, Boeing, and Raytheon

China Sanctions Lockheed Martin, Boeing, and Raytheon

Business Insider reports Industrial stocks tank after China sanctions Lockheed Martin, Boeing, and Raytheon over Taiwan sales.

Industrial stocks dragged major indexes lower on Monday after China announced it will sanction US defense firms over planned weapons sales to Taiwan.

The announcement drove a sharp sell-off of the involved companies’ stocks that broadly pulled industrials into a hefty intraday loss. The corresponding S&P 500 sector sat 2.9% lower as of 12:50 p.m. ET, trailing only energy stocks in what’s poised to be the worst day for stocks in a month. Within the industrials sector, aerospace and defense stocks fell more than 3%.

Boeing fell as much as 4.4%. Raytheon and Lockheed Martin fell 4.3% and 3.2% at their respective intraday lows.

China Accuses Trump of Trade Deal Violation

Please consider Foreign Ministry Spokesperson Zhao Lijian’s Regular Press Conference on October 26, 2020
regarding US military sales to Taiwan.

Zhao Lijian: As China pointed out on multiple occasions, the U.S. arms sales to Taiwan severely violate the one-China principle and the three China-U.S. joint communiqués, and seriously undermine China’s sovereignty and security interests. China firmly opposes and strongly condemns it. 

To uphold national interests, China decides to take necessary measures to sanction U.S. companies involved in the arms sales to Taiwan including Lockheed Martin, Boeing Defense, Space & Security (BDS) and Raytheon, as well as the U.S. individuals and entities who played an egregious role in the process. 

Once again we urge the United States to strictly observe the one-China principle and the three China-U.S. joint communiqués, and stop selling weapons to Taiwan or having any military ties with it. We will continue taking necessary measures to safeguard national sovereignty and security interests.

Three Communiqués

The Three Communiqués or Three Joint Communiqués (Chinese: 三个联合公报) are a collection of three joint statements made by the governments of the United States and the People’s Republic of China (P.R.C.). The communiqués played a crucial role in the establishment of relations between the U.S. and the P.R.C. and continue to be an essential element in dialogue between the two states.

  1. The first communiqué (February 28, 1972), known as the Shanghai Communiqué, summarizes the landmark dialogue begun by President Richard Nixon and Premier Zhou Enlai during February 1972. Some of the issues addressed in this communiqué include the two sides’ views on Vietnam, the Korean Peninsula, India and Pakistan and the Kashmir region, and perhaps most importantly, the Taiwan (Republic of China) issue (i.e., Taiwan’s political status). Essentially, both sides agreed to respect each other’s national sovereignty and territorial integrity. The United States formally acknowledged that “all Chinese on either side of the Taiwan Strait maintain there is but one China”.
  2. The second communiqué (January 1, 1979), the Joint Communiqué on the Establishment of Diplomatic Relations, formally announces the commencement of normal relations between the United States and the People’s Republic of China. In so doing, the United States recognized that the government of the People’s
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This is what “war in space” probably would look like in the near future

Anti-Satellite Weapons from Mission Shakti are displayed during Republic Day Parade on January 26, 2020 in New Delhi, India.
Enlarge / Anti-Satellite Weapons from Mission Shakti are displayed during Republic Day Parade on January 26, 2020 in New Delhi, India.

Ramesh Pathania/Mint via Getty Images

The creation of the US Space Force has conjured up all manner of fanciful notions about combat in space. Will military satellites act like X-wings and Tie Fighters, zipping around and shooting at one another? Or perhaps will larger ships akin to the USS Enterprise fire photon torpedoes at enemy warbirds?

Hardly. But even those with more realistic expectations for what could happen if nations went to war in space—perhaps satellites using orbital kinetic weapons to attack other satellites?—may not fully appreciate the physics of space combat. That’s the conclusion of a new report that investigates what is physically and practically possible when it comes to space combat.

Published by The Aerospace Corporation, The Physics of Space War: How Orbital Dynamics Constrain Space-to-Space Engagements lays out several basic concepts that are likely to govern any space combat for the foreseeable future. All of the physical constraints suggest battles will need to be planned far in advance.

Unlike a war on Earth, which typically involves an effort by opposing forces to dominate a physical location, satellites in orbit do not occupy a single location. Therefore, the report authors Rebecca Reesman and James Wilson write, controlling space does not necessarily mean physically conquering sectors of space.

Rather, control over the high ground involves reducing or eliminating adversary satellite capabilities while ensuring one retains the ability to freely operate their own space capabilities for communications, navigation, observation, and all the other increasingly essential ways in which militaries rely on space.

When considering how to control space, the authors lay out the ways in which space combat is counter-intuitive for policymakers and strategists.

  • Satellites move quickly, but predictably:  Satellites in commonly used circular orbits move at speeds between 3km/s and 8km/s, depending on their altitude. By contrast, an average bullet only travels about 0.75km/s. They are here, and then gone.
  • Space is big: The volume of space between low-earth orbit and geostationary orbit is about 200 trillion cubic kilometers. That is 190 times larger than the volume of Earth.
  • Timing is everything: Within the confines of the atmosphere, airplanes, tanks, and ships can nominally move in any direction. Satellites do not have that freedom. Due to the gravitational pull of Earth, satellites are always moving in either a circular or elliptical path, constantly in free-fall around the Earth. Getting two satellites in the same spot is not intuitive. Therefore, it requires careful planning and perfect timing.
  • Satellites maneuver slowly: While satellites move quickly, space is big, and that makes purposeful maneuvers seem relatively slow. Once a satellite is in orbit, it requires time and a large amount of delta-V to perform phasing maneuvers.

Given all of this, for engagements in space, maneuvers and actions will have to be planned far in advance, Reesman said in an interview. “Any conflict in space will be much

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