Jim Cramer: Apple’s had to walk the tightrope in China (video)

In the face of today’s New York Times front-pager, Cramer praises Tim Cook’s surefootedness.

Aired Tuesday on CNBC.

Cue the video:

My take: I was living in lower Manhattan the day Philippe Petite walked between the old World Trade Center towers, and I had the privilege of watching him do it from the roof of my apartment building on Sullivan Street. I’ve been watching Tim Cook run Apple for nearly a decade now, and his performance is just as impressive.

P.S. I suck at Photoshop.

8 Comments

  1. David Emery said:
    Hard to do Photoshop while riding your bike 🙂 🙂

    0
    May 18, 2021
  2. Jerry Doyle said:
    Our media & news organizations up until recently were accomplices in a series of disasters in history especially in promoting China for acceptance into the WTO. The NYT refuses to do as the last generation of news workers who were the obedient tools, mouths & tongues of the Party. Western leaders are naive in understanding China. China long has known a fact that Western leaders now are only beginning to grasp: that the Chinese Communist Party (CCP) and its leaders never have wanted to be the West when they grow up. China will retain & maintain a tight grip over its peoples to ensure the CCP remains in power & foreign companies wanting access to China’s 1.4B peoples will need to kowtow to the CCP’s beckon call in some form or differential fashion. China is winning its battle for the foreseeable future to bestride the world as a colossus on their own implacable terms; and, it is this inconsistency in Apple’s willingness to embrace China under these implacable terms that Mark Zuckerberg leverages to his advantage.

    1
    May 18, 2021
    • David Emery said:
      (political theory is probably on the edge of ‘relevant’)

      I believe China doesn’t “want to be us”, they want to be “the alternative to us” In particular, they promote what I’m calling “totalitarian capitalism” (TC) as an alternate basic political system to ‘Western liberal democracy.” (WLD) That’s characterized by a relatively open economy, but strict government controls over social programs, freedoms and similar. And I think this has a lot of appeal in the 3rd world, where there isn’t the philosophical roots for ‘WLD’, and ruling autocrats like the idea of a system where they retain political power, and collect taxes and exert control over a vibrant economy. I’d even characterize Singapore as closer to TC than WLD in many respects. )

      The question for every multinational is whether they will agree to the C part of TC. So far, it seems the answer is “yes”, and the alternative to “yes” is not financially -or politically viable-. Apple abandoning China would be catastrophic for Apple, and by extension have significant impact on the US economy.

      2
      May 18, 2021
      • Bart Yee said:
        @David I’ll also add that, IMO, the American consumer, for all the bluster about wanting to “buy American, bring American jobs back, employ Americans, I’ll pay more for American products, etc.” still grumble and in most cases still votes with their wallets/pocketbooks in choosing the cheapest, least expensive products, usually made overseas, Far East, China or other third world countries. How else can Walmart, Target, Amazon, etc. keep reporting higher overall revenue and profits without exploiting supplier cost savings and product availability?

        IMO, for many American consumers and companies, they walk “the tightrope” of saying America First” while doing “whatever saves me money and benefits me”, conveniently feigning ignorance of action. Smaller business owners have a legitimate concern over how living wages and higher minimum wages affect their bottom line, but their consistent desire to pay as little as possible wages for as long as they can exposes where they really want to be – using the lowest wage they can get away with for the workers they can get.

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        May 18, 2021
  3. Michael Goldfeder said:
    The NYT was the first publication to pull out of the Apple News Stand plus service as it wasn’t going to provide them with the money they needed.

    They’ve been another Apple hater ever since that day IMO. Good riddance.

    2
    May 18, 2021

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