This major bank just issued a stern warning about Communist China’s control over Apple that should terrify every working-class American

Oct 31, 2023

The American economy is teetering on the edge of collapse under Joe Biden’s failed economic policies.

But it’s the anti-American actions of greedy corporate elitists that could trigger a full-blown economic meltdown.

And now this major bank just issued a stern warning about Communist China’s control over Apple that should terrify every working-class American.

The albatross around Apple’s neck

It’s no secret that Apple, the world’s most valuable company with a current market cap of over $2.6 trillion, has been in bed with Communist China for decades now.

From the time founder and CEO Steve Jobs returned to save the company – and take it to a level previously thought impossible – in 1997, Apple increased its reliance and dependence on Chinese manufacturing in order to cut their labor and parts costs while also keeping up with the insane levels of worldwide demand for their products.

As of today, 20% of Apple’s total revenue comes from China, and some 95% of its products are manufactured in the Communist nation, according to The Financial Times.

And that’s after current Apple CEO Tim Cook – who essentially built the company’s international operations and supply chains as Jobs’ COO – has undertaken a massive effort to unravel the company’s deep ties to Communist China amidst rising global tensions between the U.S. and China, as well as the Communist regime’s efforts to control every company that operates within its borders while punishing anyone who dares challenge them.

As such, many Wall Street analysts and financial experts have sounded the alarm, warning that Apple could be in major trouble should the wrong geopolitical domino fall.

Now, Bank of America (BoA) is stepping up to sound that alarm, warning that Apple’s heavy reliance on Communist China poses significant risks that are only being amplified by the devolving situation unfolding between the U.S. and China over Taiwan.

Bank of America’s analysts noted that despite Cook’s efforts to expand Apple’s manufacturing outside of China, the fact that the company’s parts suppliers are largely in the Communist nation makes moving the bulk of their production extremely difficult.

“Although assembly is moving to other regions, the supplier base remains largely in China, which makes it hard to move all elements out of China,” the BoA analysts wrote. “Over time, we expect Apple to incorporate more vertical integration and system-on-chip designs to enable higher automation in assembly.”

“China could create many headwinds, including around production, demand, competition, etc,” the analysts added. “While competitive risk is easier to quantify, the other risks can be very fluid and would need to continue to be managed well.”

The issues Apple is facing have undoubtedly been exacerbated by the Communist regime’s authoritarian policies, as the company saw its market capitalization drop by some $200 billion after the Chinese Communist Party (CCP) issued an order forbidding workers from using iPhones for work.

Key Apple ally “disappears” in Taiwan

But it’s the situation in Taiwan that could truly threaten the future of the world’s most valuable company.

One of Apple’s biggest suppliers is Foxconn, a Taiwanese multinational electronics manufacturer that operates heavily in Communist China and reportedly assembles 70% of all iPhones.

And thanks to the fact that Foxconn’s billionaire founder, Terry Gou, has launched a third-party campaign in Taiwan’s 2024 Presidential election, the Communist regime has launched tax and land-use investigations into the company’s operations across China, per The Wall Street Journal.

“Communist tax authorities are looking into the company’s facilities in Guangdong province and eastern Jiangsu,” TheBlaze reported. “Natural resource authorities are investigating Foxconn’s land use in Henan and Hubei provinces.”

This comes despite the fact that Gou supports the Communist regime and its One China policy – which states that Taiwan is part of China and not a sovereign nation – as the CCP reportedly fears that his candidacy would take votes away from its chosen candidate in the Taiwanese Presidential race, and has decided to attempt to force him out of the race.

Additionally, since the investigation was announced, Gou has also been missing from the campaign trail, having not been seen in public for at least a week – a bone-chillingly common occurrence for anyone in the region who dares defy the CCP’s orders.

Put simply, the American economy is already on the brink thanks to President Joe Biden’s failed so-called “Bidenomics” agenda.

And the last thing the American economy – much less the global economy – needs is for the greed of corporate elitists to squeeze out every penny in profit that they can to end up tanking the most valuable company in the world.

But thanks to Apple’s dependence on Communist China, that’s exactly the situation that is beginning to play out.

Read All About It will keep you up-to-date on any developments to this ongoing story.

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