beijingwalker
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Jim Cramer claims US leaders 'sold us out' in allowing China to corner N95 mask market
by Spencer Neale
| March 27, 2020 11:39 AM
A top market analyst criticized congressional leaders for making "a deal with the devil" which has caused medical supply shortages in the face of the deadliest worldwide pandemic in a century.
Jim Cramer, the host of CNBC's Mad Money and a noted skeptic of the Chinese Communist Party, sent a flurry of tweets Friday morning claiming U.S. leaders allowed the Chinese government to gain manufacturing dominance and hoard key medical equipment, including N95 masks, as the United States attempts to slow the rising numbers of patients infected with COVID-19, the disease stemming from the coronavirus.
"Remember 3M N-95 masks in China," Cramer tweeted. "I imagine they have millions that should be put on Fedex and UPS planes right now and then when they get here we can talk trade. Same with ventilators . they have them; we need them."
N95 masks are respiratory protective devices used to cover the mouth and reduce the spread of infectious diseases such as the coronavirus. Global supply chains have struggled to meet the demand, especially in medical industries such as pharmaceuticals. It has been estimated that up to 80% of active pharmaceutical ingredients used to produce drugs in the U.S. come from the Asian nation.
"You think i want the Chinese help? But they have tens of millions of masks that we need," Cramer said. "We can't cut off our nose to spite our faces. It is very unfortunate.. Our leaders sold us out!!!"
On Wednesday, Tennessee Sen. Marsha Blackburn decried U.S. dependence on manufacturing from China, saying "madmen in Beijing" don't care who they hurt as long as they can retain political power.
To combat the shortage of masks, some people are fabricating masks out of drapes, bra straps, shower curtains, and a number of other household goods.
https://www.washingtonexaminer.com/...t-in-allowing-china-to-corner-n95-mask-market
by Spencer Neale
| March 27, 2020 11:39 AM
A top market analyst criticized congressional leaders for making "a deal with the devil" which has caused medical supply shortages in the face of the deadliest worldwide pandemic in a century.
Jim Cramer, the host of CNBC's Mad Money and a noted skeptic of the Chinese Communist Party, sent a flurry of tweets Friday morning claiming U.S. leaders allowed the Chinese government to gain manufacturing dominance and hoard key medical equipment, including N95 masks, as the United States attempts to slow the rising numbers of patients infected with COVID-19, the disease stemming from the coronavirus.
"Remember 3M N-95 masks in China," Cramer tweeted. "I imagine they have millions that should be put on Fedex and UPS planes right now and then when they get here we can talk trade. Same with ventilators . they have them; we need them."
N95 masks are respiratory protective devices used to cover the mouth and reduce the spread of infectious diseases such as the coronavirus. Global supply chains have struggled to meet the demand, especially in medical industries such as pharmaceuticals. It has been estimated that up to 80% of active pharmaceutical ingredients used to produce drugs in the U.S. come from the Asian nation.
"You think i want the Chinese help? But they have tens of millions of masks that we need," Cramer said. "We can't cut off our nose to spite our faces. It is very unfortunate.. Our leaders sold us out!!!"
On Wednesday, Tennessee Sen. Marsha Blackburn decried U.S. dependence on manufacturing from China, saying "madmen in Beijing" don't care who they hurt as long as they can retain political power.
To combat the shortage of masks, some people are fabricating masks out of drapes, bra straps, shower curtains, and a number of other household goods.
https://www.washingtonexaminer.com/...t-in-allowing-china-to-corner-n95-mask-market
