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Here’s a bit of an inside scoop: During the early days of the CHIPS Act, members of the congressional team responsible for drafting the act visited a US ally in East Asia with a substantial domestic semiconductor industry.
Once in a great while, Twitter X can still be a place for interesting discussions instead of breathless political screeching. July 29 was one of those times. I wrote a thread asking why America missed the battery revolution and got a lot of very interesting responses. So I thought I’d redo that thread as a blog post and expand on it a bit.
“I may live badly, but at least I don’t have to work to do it!” — Slacker
In discussions about China’s economy, the issue of demographics comes up quite a lot. In 2022, China’s population began to decrease (and coincidentally, India’s population surpassed China’s). The country’s fertility rate, which had already fallen below replacement levels decades earlier, fell again recently, to just 1.09 — one of the lowest rates in the world, and even lower than Japan.
The big economic news this week was Biden’s very large tariffs on a number of Chinese-made goods. Those tariffs appear to have acted as a catalyst for a bunch of other countries — India, Brazil, Vietnam, Thailand, Mexico, the EU, etc. — to consider their own tariffs on China.
Joe Biden is about to slap 100% tariffs on Chinese-made electric vehicles. A 100% tariff is an absolutely huge tariff. It means that Chinese EV makers would have to sell their EVs in the US at half the price of EVs manufactured elsewhere in order to be competitive. That just isn’t going to happen.
The other day at a fundraiser, Joe Biden made a casual comment that I consider to be the worst gaffe of his entire term as president. He declared that two of America’s most important allies, India and Japan, are “xenophobic”, and placed them in the same category as Russia and China:
Viola Zhou has written an excellent investigative report into the culture clashes and growing pains at the TSMC factory in Phoenix, Arizona.