Now a discussion on the clean Energy Benefits of the Inflation Reduction Act and how it affects local communities around the country. State and local lawmakers highlighted several topics from Green Energy Jobs to funding for disaster recovery. Hosted by the elected officials to protect american network, this is nearly one hour and 10 minutes. Good morning, everyone. My name is alex quinn and im president of elected officials to protect america. Eopa is a nonpartisan network of elected officials who are deeply committed to protecting our planet from the dangers of the climate crisis. Ensuring land and water production and democracy and helping to ensure environmental justice. We are here today to highlight the historic investment of the Inflation Reduction Act. It is a historic investment in our security, prosperity and health. I first saw the importance of this when i was deployed out with the marine corps in iraq. It was one of those blistering hot days, when you touch the rifle, mari
Always a pleasure to see you. This is a company that almost collapsed two years ago. Why is it filing for bankruptcy in the United States . I think it is a legal move. The Debt Restructuring Talks were already going on with hong kong, cayman islands, word has holding companies. The advantage for evergrande to file for bankruptcy in america is a gives it some protection against us creditors for the duration of that Court Process. I5 creditors for the duration of that Court Process Court Process. Is there a lot of exoosure Court Process. Is there a lot of exoosure for Court Process. Is there a lot of exposure for foreign Court Process. Is there a lot of. Exposure for Foreign Companies Court Process. Is there a lot of exposure for Foreign Companies here . I think there is a certain amount of exposure. There are enormous amounts of debts, large amounts of the offshore bonds have lost their value and i believe many of the less risk taking investors already sold their offshore bonds a couple
Bankruptcy protection in the us under chapter 15 which governs Foreign Companies in the us, protecting them from creditors that might want to sue them. You have probably heard of chapter 11. That typically governs American Companies but it is chapter 15. According to Court Filings these negotiations are ongoing in hong kong, canaanite and British Virgin islands. We have reached out to evergrande that have not had conversation. To those who have wondered if they have ever thought of evergrande before it is chinas huge property giant. They have about 1300 projects across 280 different cities in china and they invest in everything, not just property. They have an electric vehicle maker and a football club, but as i mentioned, 2021 was when we saw the Company Default on its debts, sending shockwaves across the Global Financial system and triggering a string of defaults from builders who owed money to evergrande or expected them to complete some contracts. We have seen 40 or the companies t
You know, an iphone sold in the us or europe might be designed in california and built in india using Semiconductors Made in taiwan from Raw Materials provided by china. So if any link in that supply chain breaks, it sets up big problems for the rest of the chain. And thats true for smartphones, as it is for pcs, and especially in Battery Production for those Electric Vehicles were buying more and more of. So what if one country decides to make it harderfor others to get hold of some of those critical Raw Materials . Well, thats what china announced just last month. Translation the Chinese Government implements i Export Controls on gallium and germanium related items in accordance with the law to ensure that they are used for legitimate purposes in order to safeguard National Security and better fulfil our international obligations. For quite some time now, the us side has been abusing Export Control measures to continuously strengthen its crackdown on chinas semiconductors and artific
Credit. Is he right . Guest i would say, the criticism you hear from the left, the far left as well as some republicans, is that many incentives in the law do not help to render. [indiscernible conversations] good morning, everyone. My name is alex quinn and im president of elected officials to protect america. Eopa is a nonpartisan network of elected officials who are deeply committed to protecting our planet from the dangers of the climate crisis. Ensuring land and water production and democracy and helping to ensure environmental justice. We are here today to highlight the historic investment of the Inflation Reduction Act. It is a historic investment in our security, prosperity and health. I first saw the importance of this when i was deployed out with the marine corps in iraq. It was one of those blistering hot days, when you touch the rifle, marines can sometimes be overzealous and we tried to do competitions. Who can touch it longest in the heat . Unfortunately, someone tried to