Podcasts about us china

Michael speaks with Craig Singleton, China Program Senior Director and Senior Fellow at the Foundation for Defense of Democracies, about the new frontiers of the US-China tech competition. Craig explains China's willingness to weaponize its dominance in rare earth magnets and how that leverage has left US assembly lines vulnerable. He also explores the high-stakes debate over semiconductor export controls, including a controversial profit-sharing deal for NVIDIA's H20 chips with the US government. Finally, Craig discusses the Chinese "five lever playbook" used to dominate critical sectors like polysilicon, LIDAR, and display technologies, warning of "strategic kill switches" in US infrastructure and the emerging national security threat of biotech.

Smart Rabbits: American Small Businesspeople, Trade Wars, and the Future of U.S.-China Relations looks at how small businesses navigate the intricate web of U.S.-China relations. Author Douglas Barry captures the voices of entrepreneurs whose daily lives reflect the larger narrative of economic interdependence and geopolitical tension, profiling American small business owners who forge connections, foster trade, and find innovative solutions despite trade wars, policy shifts, and cultural barriers. The book offers insights into how small businesses are affected by and influence global politics, and provides fresh perspectives on the U.S.-China relationship and why bilateral cooperation matters. In an interview conducted on July 21, 2025, Douglas Barry, in conversation with Min Fan, discusses how small businesses are shaping the future of U.S.-China relations. About the speakers  

In this episode of The China Desk, host Steve Yates speaks with US-China Economic and Security Review Commission members Randy Schriver and Mike Kuiken about the Commission's latest annual report to Congress. The conversation breaks down China's rapid advances in space as a warfighting domain, quantum computing and encryption threats, biotechnology competition, and deep vulnerabilities in U.S. supply chains. Drawing on decades of national security experience, the guests explain why technological literacy, allied coordination, and long-term investment are now critical to maintaining U.S. and allied security in the Indo-Pacific. Watch Full-Length Interviews: https://www.youtube.com/@ChinaDeskFNW

In this episode of Gary and Shannon, Gary and Shannon discuss the challenges of the new year, including setting intentions and navigating the complexities of modern life. They dive into the world of steakhouses, where rising costs and profit margins are causing restaurants to get creative with their menus. The conversation also touches on the importance of accountability in politics, with a focus on the US-China tensions and the ongoing conflict in Ukraine. Additionally, they discuss the impact of affordability on everyday life, including the rising cost of groceries and the struggles of small businesses.See omnystudio.com/listener for privacy information.

EI's Paul Lay is joined by Helen Thompson to discuss US–China rivalry, the growing importance of the Western Hemisphere in geopolitics, and the inherent instability of a multipolar world. Image: Russian President Vladimir Putin speaks to Chinese President Xi Jinping at the Victory Parade marking the 70th anniversary of the surrender of Nazi Germany in the Second World War. Credit: Associated Press

China analyst and Momentum Works founder Jianggan joins Jeremy Au to break down how US–China tensions evolved through a year of tariffs, rare earth leverage, supply chain shocks, and fast-moving geopolitical swings. They examine why both sides misread each other, how Chinese companies adapted faster than expected, and why the global system settled into a tactical pause instead of a decisive split. Their discussion shows how on-the-ground China differs from Western narratives, how product iteration and factory conditions changed under competitive pressure, and why neither side can force a quick victory. Jianggan also shares insights from thirteen trips across China as he tracks e-commerce exporters, shifting macro sentiment, and the emerging negotiation patterns that shape 2026. 02:28 US tariffs aimed to hurt China but failed to break its exporters: Chinese firms diversified markets, adjusted production, and kept shipping strong volumes even as analysts expected collapse. 03:08 China deployed rare earths and soybeans as leverage: Beijing used export controls, licensing rules, and supply pivots to respond in structured tit for tat moves that surprised US policymakers. 07:04 A tactical pause replaced escalation: Both sides realized they could not win quickly, creating a fragile equilibrium shaped by low trust but stable expectations. 10:06 Factory floors tell a different story: Air-conditioned warehouses, livestreamed food production, one dollar meals, and rising worker savings show a more complex China than what headlines describe. 21:12 Chinese product cycles sped up dramatically: Exporters improved quality within a year, added more features, and stayed cheaper, putting global incumbents under real pressure. 26:26 Narratives on both sides miss the nuance: Sensational media framing and echo chambers make Americans underestimate China and make Chinese underestimate America. 29:06 TikTok deal shows coexistence is possible: Restructuring turned adversaries into stakeholders and created a template for how cross-border platforms can operate under political pressure. Watch, listen or read the full insight at https://www.bravesea.com/blog/jianggan-li-chinas-counterplay Watch, listen or read the full insight at https://www.bravesea.com/blog/engineering-soft-landings WhatsApp: https://whatsapp.com/channel/0029VakR55X6BIElUEvkN02e TikTok: https://www.tiktok.com/@jeremyau Instagram: https://www.instagram.com/jeremyauz Twitter: https://twitter.com/jeremyau LinkedIn: https://www.linkedin.com/company/bravesea Spotify English: https://open.spotify.com/show/4TnqkaWpTT181lMA8xNu0T Bahasa Indonesia: https://open.spotify.com/show/2Vs8t6qPo0eFb4o6zOmiVZ Chinese: https://open.spotify.com/show/20AGbzHhzFDWyRTbHTVDJR Vietnamese: https://open.spotify.com/show/0yqd3Jj0I19NhN0h8lWrK1 YouTube  English: https://www.youtube.com/@JeremyAu?sub_confirmation=1 Apple Podcast  English: https://podcasts.apple.com/sg/podcast/brave-southeast-asia-tech-singapore-indonesia-vietnam/id1506890464 #USChinaRelations #Geopolitics #ChinaEconomy #TradeWar #RareEarths #GlobalSupplyChains #SoutheastAsiaTech #TariffTalks #MarketDynamics #BRAVEpodcast

Gideon and guests look back at 2025 as well as forward to the year ahead in an FT Live discussion for the Global Boardroom. Donald Trump set the tone of world politics this year from his tariff wars to his efforts to make peace in the Middle East and Ukraine, while also bombing Iran and threatening Venezuela. In a bid to make sense of the contradictions, Gideon is joined by Leslie Vinjamuri, president of the Chicago Council on Global Affairs, Dan Drexner, professor of international politics at the Fletcher school at Tufts university in Boston, and James Crabtree, author of an acclaimed book on Modi's India and a forthcoming book on US-China tensions in the Pacific. Clip: PBSFree links to read more on this topic:When business and democracy don't mixThe AfD's love-in with MagaOpen source could pop the AI bubble — and soonChina is making trade impossibleSubscribe to The Rachman Review wherever you get your podcasts - please listen, rate and subscribe.Presented by Gideon Rachman. Produced by Fiona Symon. Sound design is by Breen Turner and the executive producer is Flo Phillips.Follow Gideon on Bluesky or X @gideonrachman.bsky.social, @gideonrachmanRead a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

The US-China trade war has upended global manufacturing, forcing companies like Chicago-based Learning Resources to fundamentally change how and where its products are made, even as it challenges the tariffs in court. On today’s Big Take Asia podcast, K. Oanh Ha heads to India, where the toymaker has begun shifting production of its popular children’s toys. We examine how the company is managing the complex shift from China – where its toys have been made for decades, what the factory boom means for communities on the ground in India and how all of this will impact toy prices. Further listening: The American Toymaker Suing Trump Over Destructive TariffsSee omnystudio.com/listener for privacy information.

The US accused China of engaging in unfair trade practices in the semiconductor sector, but is declining to impose additional tariffs on chip imports until at least mid-2027. The Office of the US Trade Representative on Tuesday released the findings of a nearly yearlong inquiry into China's chip sector that was launched in the final weeks of the former President Joe Biden's administration, with the expectation the matter would be resolved under President Donald Trump. In the intervening months, Trump struck a truce with Chinese President Xi Jinping to end a trade war that rattled global markets. For more on the relationship in regards to US-China in the technology space, we spoke to Tiffany Hsiao, Portfolio Manager at Matthews International Capital Management. Plus - the US economy expanded in the third quarter at the fastest pace in two years, bolstered by resilient consumer and business spending and calmer trade policies. Inflation-adjusted gross domestic product, which measures the value of goods and services produced in the US, increased at a 4.3% annualized pace, a Bureau of Economic Analysis report showed Tuesday. That was higher than all but one forecast in a Bloomberg survey and followed 3.8% growth in the prior period. We heard from Chris Kampitsis, Managing Partner, Barnum Financial Group.See omnystudio.com/listener for privacy information.

Thomas and Prof. Slav Hermanowicz first met in Shenzhen earlier this year, during a seminar on technology, sustainability, and productivity. A few conversations later, it was clear we could not leave it at that. So we invited him to join us on the podcast and continue the discussion in more depth.In this Christmas Special, Slav shares his perspective after more than 25 years working between China, Europe, and the US. As a Professor at UC Berkeley with deep ties to Chinese universities and research institutes, he talks about how China has changed on the ground. From environmental engineering and clean water to electric mobility, AI, and systems thinking, he explains what China does differently and where it is already ahead.We also talk about education, startups, and what the rise of AI means for engineers, universities, and society as a whole. Happy holidays everyone!Guest: Slav HermanowiczKeywords: China engineering, China vs US technology, China vs Europe innovation, environmental engineering China, China sustainability technology, AI in engineering, industrial AI China, systems thinking engineering, China infrastructure development, Shenzhen innovation ecosystem, engineering education China, US China university collaboration, global engineering competition, China technology leadership, clean energy transition ChinaSend us a textasiabits hier abonnieren: asiabits.com Damians Team kontaktieren: www.genuine-asia.com Moderatoren & Hosts: Damian Maib & Thomas Derksen Schnitt & Produktion: Eva Trotno

Almost every serious discussion about options to constrain the development of advanced AI results in someone raising the question: “But what about China?” The worry behind this question is that slowing down AI research and development in the US and Europe will allow China to race ahead.It's true: the relationship between China and the rest of the world has many complications. That's why we're delighted that our guest in this episode is Kayla Blomquist, the Co-founder and Director of the Oxford China Policy Lab, or OCPL for short. OCPL describes itself as a global community of China and emerging technology researchers at Oxford, who produce policy-relevant research to navigate risks in the US-China relationship and beyond.In parallel with her role at OCPL, Kayla is pursuing a DPhil at the Oxford Internet Institute. She is a recent fellow at the Centre for Governance of AI, and the lead researcher and contributing author to the Oxford China Briefing Book. She holds an MSc from the Oxford Internet Institute and a BA with Honours in International Relations, Public Policy, and Mandarin Chinese from the University of Denver. She also studied at Peking University and is professionally fluent in Mandarin.Kayla previously worked as a diplomat in the U.S. Mission to China, where she specialized in the governance of emerging technologies, human rights, and improving the use of new technology within government services.Selected follow-ups:Kayla Blomquist - Personal siteOxford China Policy LabThe Oxford Internet Institute (OII)Google AI defeats human Go champion (Ke Jie)AI Safety Summit 2023 (Bletchley Park, UK)United Kingdom: Balancing Safety, Security, and Growth - OCPLChina wants to lead the world on AI regulation - report from APEC 2025China's WAICO proposal and the reordering of global AI governanceImpact of AI on cyber threat from now to 2027Options for the future of the global governance of AI - London Futurists WebinarA Tentative Draft of a Treaty - Online appendix to the book If Anyone Builds It, Everyone DiesAn International Agreement to Prevent the Premature Creation of Artificial SuperintelligenceMusic: Spike Protein, by Koi Discovery, available under CC0 1.0 Public Domain DeclarationC-Suite PerspectivesElevate how you lead with insight from today's most influential executives.Listen on: Apple Podcasts Spotify

After a year tangled in political drama, AI hype, and regulation battles, the TWiT crew explains how many of tech's "biggest stories" simply fizzled into nothing or left us with new headaches by year's end. • Year-end tech trends: AI, politics, and security dominated 2025 • Major stories faded fast: TikTok saga, political tech drama, DOGE scandal • TikTok's ownership battle—Oracle, Trump donors, and US-China tensions • China tech fears: banned drones, IoT vulnerabilities, secret radios in buses • Rising political pressure for internet privacy and media literacy reform • Surveillance and kill switch concerns in US grid and port infrastructure • Convenience vs. privacy: Americans trade data for discounts and ease • Age verification, surveillance, and flawed facial recognition across countries • Discord's ID leak highlights risks of rushed compliance with privacy laws • Social media's impact on kids pushes age-gating and verification laws • ISPs monetize customer data, VPNs pitched for personal privacy • Global government crackdowns: UK bans VPN advertising, mandates age checks • The illusion of absolute privacy: flawed age gates and persistent tracking • AI takes over: explosive growth, but profits elusive for big players • Arms race in LLMs: DeepSeek's breakthrough, OpenAI/Meta talent bidding war • Ad-driven models still rule; Amazon's playbook repeated in AI • Humanoid robots and AGI hype: skepticism vs. Silicon Valley optimism • AI-generated art, media, and the challenge of deepfake detection • Social platforms falter: Instagram and X swamped by fake or low-value content • Google's legal, regulatory, and technical woes: ad tech trial, Manifest V3 backlash • RAM price spikes and hardware shortages blamed on AI data center demand • YouTube overtakes mobile for podcast and video viewing, Oscars move online • The internet's growth: Cloudflare stats, X vs. Reddit, spam domain trends • Weird tech stories: hacked crosswalks, Nintendo Switch 2 Staplegate, LEGO theft ring • Sad farewell: Lamar Wilson's passing and mental health awareness in tech • Reflections on the year's turbulence and hopes for a better 2026 Host: Leo Laporte Guests: Mikah Sargent, Paris Martineau, and Steve Gibson Download or subscribe to This Week in Tech at https://twit.tv/shows/this-week-in-tech Join Club TWiT for Ad-Free Podcasts! Support what you love and get ad-free audio and video feeds, a members-only Discord, and exclusive content. Join today: https://twit.tv/clubtwit Sponsors: expressvpn.com/twit zscaler.com/security Melissa.com/twit ventionteams.com/twit auraframes.com/ink

After a year tangled in political drama, AI hype, and regulation battles, the TWiT crew explains how many of tech's "biggest stories" simply fizzled into nothing or left us with new headaches by year's end. Year-end tech trends: AI, politics, and security dominated 2025 Major stories faded fast: TikTok saga, political tech drama, DOGE scandal TikTok's ownership battle—Oracle, Trump donors, and US-China tensions China tech fears: banned drones, IoT vulnerabilities, secret radios in buses Rising political pressure for internet privacy and media literacy reform Surveillance and kill switch concerns in US grid and port infrastructure Convenience vs. privacy: Americans trade data for discounts and ease Age verification, surveillance, and flawed facial recognition across countries Discord's ID leak highlights risks of rushed compliance with privacy laws Social media's impact on kids pushes age-gating and verification laws ISPs monetize customer data, VPNs pitched for personal privacy Global government crackdowns: UK bans VPN advertising, mandates age checks The illusion of absolute privacy: flawed age gates and persistent tracking AI takes over: explosive growth, but profits elusive for big players Arms race in LLMs: DeepSeek's breakthrough, OpenAI/Meta talent bidding war Ad-driven models still rule; Amazon's playbook repeated in AI Humanoid robots and AGI hype: skepticism vs. Silicon Valley optimism AI-generated art, media, and the challenge of deepfake detection Social platforms falter: Instagram and X swamped by fake or low-value content Google's legal, regulatory, and technical woes: ad tech trial, Manifest V3 backlash RAM price spikes and hardware shortages blamed on AI data center demand YouTube overtakes mobile for podcast and video viewing, Oscars move online The internet's growth: Cloudflare stats, X vs. Reddit, spam domain trends Weird tech stories: hacked crosswalks, Nintendo Switch 2 Staplegate, LEGO theft ring Sad farewell: Lamar Wilson's passing and mental health awareness in tech Reflections on the year's turbulence and hopes for a better 2026 Host: Leo Laporte Guests: Mikah Sargent, Paris Martineau, and Steve Gibson Download or subscribe to This Week in Tech at https://twit.tv/shows/this-week-in-tech Join Club TWiT for Ad-Free Podcasts! Support what you love and get ad-free audio and video feeds, a members-only Discord, and exclusive content. Join today: https://twit.tv/clubtwit Sponsors: expressvpn.com/twit zscaler.com/security Melissa.com/twit ventionteams.com/twit auraframes.com/ink

After a year tangled in political drama, AI hype, and regulation battles, the TWiT crew explains how many of tech's "biggest stories" simply fizzled into nothing or left us with new headaches by year's end. Year-end tech trends: AI, politics, and security dominated 2025 Major stories faded fast: TikTok saga, political tech drama, DOGE scandal TikTok's ownership battle—Oracle, Trump donors, and US-China tensions China tech fears: banned drones, IoT vulnerabilities, secret radios in buses Rising political pressure for internet privacy and media literacy reform Surveillance and kill switch concerns in US grid and port infrastructure Convenience vs. privacy: Americans trade data for discounts and ease Age verification, surveillance, and flawed facial recognition across countries Discord's ID leak highlights risks of rushed compliance with privacy laws Social media's impact on kids pushes age-gating and verification laws ISPs monetize customer data, VPNs pitched for personal privacy Global government crackdowns: UK bans VPN advertising, mandates age checks The illusion of absolute privacy: flawed age gates and persistent tracking AI takes over: explosive growth, but profits elusive for big players Arms race in LLMs: DeepSeek's breakthrough, OpenAI/Meta talent bidding war Ad-driven models still rule; Amazon's playbook repeated in AI Humanoid robots and AGI hype: skepticism vs. Silicon Valley optimism AI-generated art, media, and the challenge of deepfake detection Social platforms falter: Instagram and X swamped by fake or low-value content Google's legal, regulatory, and technical woes: ad tech trial, Manifest V3 backlash RAM price spikes and hardware shortages blamed on AI data center demand YouTube overtakes mobile for podcast and video viewing, Oscars move online The internet's growth: Cloudflare stats, X vs. Reddit, spam domain trends Weird tech stories: hacked crosswalks, Nintendo Switch 2 Staplegate, LEGO theft ring Sad farewell: Lamar Wilson's passing and mental health awareness in tech Reflections on the year's turbulence and hopes for a better 2026 Host: Leo Laporte Guests: Mikah Sargent, Paris Martineau, and Steve Gibson Download or subscribe to This Week in Tech at https://twit.tv/shows/this-week-in-tech Join Club TWiT for Ad-Free Podcasts! Support what you love and get ad-free audio and video feeds, a members-only Discord, and exclusive content. Join today: https://twit.tv/clubtwit Sponsors: expressvpn.com/twit zscaler.com/security Melissa.com/twit ventionteams.com/twit auraframes.com/ink

After a year tangled in political drama, AI hype, and regulation battles, the TWiT crew explains how many of tech's "biggest stories" simply fizzled into nothing or left us with new headaches by year's end. Year-end tech trends: AI, politics, and security dominated 2025 Major stories faded fast: TikTok saga, political tech drama, DOGE scandal TikTok's ownership battle—Oracle, Trump donors, and US-China tensions China tech fears: banned drones, IoT vulnerabilities, secret radios in buses Rising political pressure for internet privacy and media literacy reform Surveillance and kill switch concerns in US grid and port infrastructure Convenience vs. privacy: Americans trade data for discounts and ease Age verification, surveillance, and flawed facial recognition across countries Discord's ID leak highlights risks of rushed compliance with privacy laws Social media's impact on kids pushes age-gating and verification laws ISPs monetize customer data, VPNs pitched for personal privacy Global government crackdowns: UK bans VPN advertising, mandates age checks The illusion of absolute privacy: flawed age gates and persistent tracking AI takes over: explosive growth, but profits elusive for big players Arms race in LLMs: DeepSeek's breakthrough, OpenAI/Meta talent bidding war Ad-driven models still rule; Amazon's playbook repeated in AI Humanoid robots and AGI hype: skepticism vs. Silicon Valley optimism AI-generated art, media, and the challenge of deepfake detection Social platforms falter: Instagram and X swamped by fake or low-value content Google's legal, regulatory, and technical woes: ad tech trial, Manifest V3 backlash RAM price spikes and hardware shortages blamed on AI data center demand YouTube overtakes mobile for podcast and video viewing, Oscars move online The internet's growth: Cloudflare stats, X vs. Reddit, spam domain trends Weird tech stories: hacked crosswalks, Nintendo Switch 2 Staplegate, LEGO theft ring Sad farewell: Lamar Wilson's passing and mental health awareness in tech Reflections on the year's turbulence and hopes for a better 2026 Host: Leo Laporte Guests: Mikah Sargent, Paris Martineau, and Steve Gibson Download or subscribe to This Week in Tech at https://twit.tv/shows/this-week-in-tech Join Club TWiT for Ad-Free Podcasts! Support what you love and get ad-free audio and video feeds, a members-only Discord, and exclusive content. Join today: https://twit.tv/clubtwit Sponsors: expressvpn.com/twit zscaler.com/security Melissa.com/twit ventionteams.com/twit auraframes.com/ink

The increasingly acrimonious U.S.-China relationship is the defining trend of this era, upending global politics, economics, and security, especially across the Global South. Countries that have worked hard from having to pick sides in this new competition, may longer have that luxury as this rivalry intensifies. Jane Perlez, a Pulitzer Prize-winning journalist and a former longtime China correspondent for The New York Times, has been covering this story since the 1980s. Now, together with acclaimed Harvard University China scholar Rana Mitter, she's launched season 3 of her award-winning podcast Face Off: The U.S. vs. China, where they explore the key trends reshaping ties between these two powers. Jane joins Eric from Sydney to discuss the forces driving this rivalry: leadership personality, domestic pressure, technological competition, and the tightening link between geopolitics and economic strategy.

After a year tangled in political drama, AI hype, and regulation battles, the TWiT crew explains how many of tech's "biggest stories" simply fizzled into nothing or left us with new headaches by year's end. Year-end tech trends: AI, politics, and security dominated 2025 Major stories faded fast: TikTok saga, political tech drama, DOGE scandal TikTok's ownership battle—Oracle, Trump donors, and US-China tensions China tech fears: banned drones, IoT vulnerabilities, secret radios in buses Rising political pressure for internet privacy and media literacy reform Surveillance and kill switch concerns in US grid and port infrastructure Convenience vs. privacy: Americans trade data for discounts and ease Age verification, surveillance, and flawed facial recognition across countries Discord's ID leak highlights risks of rushed compliance with privacy laws Social media's impact on kids pushes age-gating and verification laws ISPs monetize customer data, VPNs pitched for personal privacy Global government crackdowns: UK bans VPN advertising, mandates age checks The illusion of absolute privacy: flawed age gates and persistent tracking AI takes over: explosive growth, but profits elusive for big players Arms race in LLMs: DeepSeek's breakthrough, OpenAI/Meta talent bidding war Ad-driven models still rule; Amazon's playbook repeated in AI Humanoid robots and AGI hype: skepticism vs. Silicon Valley optimism AI-generated art, media, and the challenge of deepfake detection Social platforms falter: Instagram and X swamped by fake or low-value content Google's legal, regulatory, and technical woes: ad tech trial, Manifest V3 backlash RAM price spikes and hardware shortages blamed on AI data center demand YouTube overtakes mobile for podcast and video viewing, Oscars move online The internet's growth: Cloudflare stats, X vs. Reddit, spam domain trends Weird tech stories: hacked crosswalks, Nintendo Switch 2 Staplegate, LEGO theft ring Sad farewell: Lamar Wilson's passing and mental health awareness in tech Reflections on the year's turbulence and hopes for a better 2026 Host: Leo Laporte Guests: Mikah Sargent, Paris Martineau, and Steve Gibson Download or subscribe to This Week in Tech at https://twit.tv/shows/this-week-in-tech Join Club TWiT for Ad-Free Podcasts! Support what you love and get ad-free audio and video feeds, a members-only Discord, and exclusive content. Join today: https://twit.tv/clubtwit Sponsors: expressvpn.com/twit zscaler.com/security Melissa.com/twit ventionteams.com/twit auraframes.com/ink

After a year tangled in political drama, AI hype, and regulation battles, the TWiT crew explains how many of tech's "biggest stories" simply fizzled into nothing or left us with new headaches by year's end. Year-end tech trends: AI, politics, and security dominated 2025 Major stories faded fast: TikTok saga, political tech drama, DOGE scandal TikTok's ownership battle—Oracle, Trump donors, and US-China tensions China tech fears: banned drones, IoT vulnerabilities, secret radios in buses Rising political pressure for internet privacy and media literacy reform Surveillance and kill switch concerns in US grid and port infrastructure Convenience vs. privacy: Americans trade data for discounts and ease Age verification, surveillance, and flawed facial recognition across countries Discord's ID leak highlights risks of rushed compliance with privacy laws Social media's impact on kids pushes age-gating and verification laws ISPs monetize customer data, VPNs pitched for personal privacy Global government crackdowns: UK bans VPN advertising, mandates age checks The illusion of absolute privacy: flawed age gates and persistent tracking AI takes over: explosive growth, but profits elusive for big players Arms race in LLMs: DeepSeek's breakthrough, OpenAI/Meta talent bidding war Ad-driven models still rule; Amazon's playbook repeated in AI Humanoid robots and AGI hype: skepticism vs. Silicon Valley optimism AI-generated art, media, and the challenge of deepfake detection Social platforms falter: Instagram and X swamped by fake or low-value content Google's legal, regulatory, and technical woes: ad tech trial, Manifest V3 backlash RAM price spikes and hardware shortages blamed on AI data center demand YouTube overtakes mobile for podcast and video viewing, Oscars move online The internet's growth: Cloudflare stats, X vs. Reddit, spam domain trends Weird tech stories: hacked crosswalks, Nintendo Switch 2 Staplegate, LEGO theft ring Sad farewell: Lamar Wilson's passing and mental health awareness in tech Reflections on the year's turbulence and hopes for a better 2026 Host: Leo Laporte Guests: Mikah Sargent, Paris Martineau, and Steve Gibson Download or subscribe to This Week in Tech at https://twit.tv/shows/this-week-in-tech Join Club TWiT for Ad-Free Podcasts! Support what you love and get ad-free audio and video feeds, a members-only Discord, and exclusive content. Join today: https://twit.tv/clubtwit Sponsors: expressvpn.com/twit zscaler.com/security Melissa.com/twit ventionteams.com/twit auraframes.com/ink

After a year tangled in political drama, AI hype, and regulation battles, the TWiT crew explains how many of tech's "biggest stories" simply fizzled into nothing or left us with new headaches by year's end. Year-end tech trends: AI, politics, and security dominated 2025 Major stories faded fast: TikTok saga, political tech drama, DOGE scandal TikTok's ownership battle—Oracle, Trump donors, and US-China tensions China tech fears: banned drones, IoT vulnerabilities, secret radios in buses Rising political pressure for internet privacy and media literacy reform Surveillance and kill switch concerns in US grid and port infrastructure Convenience vs. privacy: Americans trade data for discounts and ease Age verification, surveillance, and flawed facial recognition across countries Discord's ID leak highlights risks of rushed compliance with privacy laws Social media's impact on kids pushes age-gating and verification laws ISPs monetize customer data, VPNs pitched for personal privacy Global government crackdowns: UK bans VPN advertising, mandates age checks The illusion of absolute privacy: flawed age gates and persistent tracking AI takes over: explosive growth, but profits elusive for big players Arms race in LLMs: DeepSeek's breakthrough, OpenAI/Meta talent bidding war Ad-driven models still rule; Amazon's playbook repeated in AI Humanoid robots and AGI hype: skepticism vs. Silicon Valley optimism AI-generated art, media, and the challenge of deepfake detection Social platforms falter: Instagram and X swamped by fake or low-value content Google's legal, regulatory, and technical woes: ad tech trial, Manifest V3 backlash RAM price spikes and hardware shortages blamed on AI data center demand YouTube overtakes mobile for podcast and video viewing, Oscars move online The internet's growth: Cloudflare stats, X vs. Reddit, spam domain trends Weird tech stories: hacked crosswalks, Nintendo Switch 2 Staplegate, LEGO theft ring Sad farewell: Lamar Wilson's passing and mental health awareness in tech Reflections on the year's turbulence and hopes for a better 2026 Host: Leo Laporte Guests: Mikah Sargent, Paris Martineau, and Steve Gibson Download or subscribe to This Week in Tech at https://twit.tv/shows/this-week-in-tech Join Club TWiT for Ad-Free Podcasts! Support what you love and get ad-free audio and video feeds, a members-only Discord, and exclusive content. Join today: https://twit.tv/clubtwit Sponsors: expressvpn.com/twit zscaler.com/security Melissa.com/twit ventionteams.com/twit auraframes.com/ink

After a year tangled in political drama, AI hype, and regulation battles, the TWiT crew explains how many of tech's "biggest stories" simply fizzled into nothing or left us with new headaches by year's end. Year-end tech trends: AI, politics, and security dominated 2025 Major stories faded fast: TikTok saga, political tech drama, DOGE scandal TikTok's ownership battle—Oracle, Trump donors, and US-China tensions China tech fears: banned drones, IoT vulnerabilities, secret radios in buses Rising political pressure for internet privacy and media literacy reform Surveillance and kill switch concerns in US grid and port infrastructure Convenience vs. privacy: Americans trade data for discounts and ease Age verification, surveillance, and flawed facial recognition across countries Discord's ID leak highlights risks of rushed compliance with privacy laws Social media's impact on kids pushes age-gating and verification laws ISPs monetize customer data, VPNs pitched for personal privacy Global government crackdowns: UK bans VPN advertising, mandates age checks The illusion of absolute privacy: flawed age gates and persistent tracking AI takes over: explosive growth, but profits elusive for big players Arms race in LLMs: DeepSeek's breakthrough, OpenAI/Meta talent bidding war Ad-driven models still rule; Amazon's playbook repeated in AI Humanoid robots and AGI hype: skepticism vs. Silicon Valley optimism AI-generated art, media, and the challenge of deepfake detection Social platforms falter: Instagram and X swamped by fake or low-value content Google's legal, regulatory, and technical woes: ad tech trial, Manifest V3 backlash RAM price spikes and hardware shortages blamed on AI data center demand YouTube overtakes mobile for podcast and video viewing, Oscars move online The internet's growth: Cloudflare stats, X vs. Reddit, spam domain trends Weird tech stories: hacked crosswalks, Nintendo Switch 2 Staplegate, LEGO theft ring Sad farewell: Lamar Wilson's passing and mental health awareness in tech Reflections on the year's turbulence and hopes for a better 2026 Host: Leo Laporte Guests: Mikah Sargent, Paris Martineau, and Steve Gibson Download or subscribe to This Week in Tech at https://twit.tv/shows/this-week-in-tech Join Club TWiT for Ad-Free Podcasts! Support what you love and get ad-free audio and video feeds, a members-only Discord, and exclusive content. Join today: https://twit.tv/clubtwit Sponsors: expressvpn.com/twit zscaler.com/security Melissa.com/twit ventionteams.com/twit auraframes.com/ink

Just a few trading days left in 2025, and there's an AI battle royale brewing between hardware and hyperscalers. The moves in Micron, Nvidia, and Oracle as Mag-7 hyperscalers largely sit out of today's rally. Plus A TikTok spinoff deal, and an $11B weapons package to Taiwan. All the headlines swirling around U.S.-China relations, and how it can all impact global markets.Fast Money Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The decision to permit exports of Nvidia’s H200 semiconductors to China is a “standalone” matter within the broader US-China trading relationship, US Trade Representative Jamieson Greer says on Bloomberg. He discusses this, tariffs and the latest in the TikTok deal with hosts Lisa Abramowicz and Dani Burger.See omnystudio.com/listener for privacy information.

In this episode, recorded in November 2025, Victor Shih sits down with Sarah Beran to discuss key developments in U.S.-China relations and how the relationship has evolved and may continue to evolve in the second Trump administration.

In 1983, Stanislav Petrov, a Soviet lieutenant colonel, sat in a bunker watching a red screen flash “MISSILE LAUNCH.” Protocol demanded he report it to superiors, which would very likely trigger a retaliatory nuclear strike. Petrov didn't. He reasoned that if the US were actually attacking, they wouldn't fire just 5 missiles — they'd empty the silos. He bet the fate of the world on a hunch that his machine was broken. He was right.Paul Scharre, the former Army Ranger who led the Pentagon team that wrote the US military's first policy on autonomous weapons, has a question: What would an AI have done in Petrov's shoes? Would an AI system have been flexible and wise enough to make the same judgement? Or would it immediately launch a counterattack?Paul joins host Luisa Rodriguez to explain why we are hurtling toward a “battlefield singularity” — a tipping point where AI increasingly replaces humans in much of the military, changing the way war is fought with speed and complexity that outpaces humans' ability to keep up.Links to learn more, video, and full transcript: https://80k.info/psMilitaries don't necessarily want to take humans out of the loop. But Paul argues that the competitive pressure of warfare creates a “use it or lose it” dynamic. As former Deputy Secretary of Defense Bob Work put it: “If our competitors go to Terminators, and their decisions are bad, but they're faster, how would we respond?”Once that line is crossed, Paul warns we might enter an era of “flash wars” — conflicts that spiral out of control as quickly and inexplicably as a flash crash in the stock market, with no way for humans to call a timeout.In this episode, Paul and Luisa dissect what this future looks like:Swarming warfare: Why the future isn't just better drones, but thousands of cheap, autonomous agents coordinating like a hive mind to overwhelm defences.The Gatling gun cautionary tale: The inventor of the Gatling gun thought automating fire would reduce the number of soldiers needed, saving lives. Instead, it made war significantly deadlier. Paul argues AI automation could do the same, increasing lethality rather than creating “bloodless” robot wars.The cyber frontier: While robots have physical limits, Paul argues cyberwarfare is already at the point where AI can act faster than human defenders, leading to intelligent malware that evolves and adapts like a biological virus.The US-China “adoption race”: Paul rejects the idea that the US and China are in a spending arms race (AI is barely 1% of the DoD budget). Instead, it's a race of organisational adoption — one where the US has massive advantages in talent and chips, but struggles with bureaucratic inertia that might not be a problem for an autocratic country.Paul also shares a personal story from his time as a sniper in Afghanistan — watching a potential target through his scope — that fundamentally shaped his view on why human judgement, with all its flaws, is the only thing keeping war from losing its humanity entirely.This episode was recorded on October 23-24, 2025.Chapters:Cold open (00:00:00)Who's Paul Scharre? (00:00:46)How will AI and automation transform the nature of war? (00:01:17)Why would militaries take humans out of the loop? (00:12:22)AI in nuclear command, control, and communications (00:18:50)Nuclear stability and deterrence (00:36:10)What to expect over the next few decades (00:46:21)Financial and human costs of future “hyperwar” scenarios (00:50:42)AI warfare and the balance of power (01:06:37)Barriers to getting to automated war (01:11:08)Failure modes of autonomous weapons systems (01:16:28)Could autonomous weapons systems actually make us safer? (01:29:36)Is Paul overall optimistic or pessimistic about increasing automation in the military? (01:35:23)Paul's takes on AGI's transformative potential and whether natsec people buy it (01:37:42)Cyberwarfare (01:46:55)US-China balance of power and surveillance with AI (02:02:49)Policy and governance that could make us safer (02:29:11)How Paul's experience in the Army informed his feelings on military automation (02:41:09)Video and audio editing: Dominic Armstrong, Milo McGuire, Luke Monsour, and Simon MonsourMusic: CORBITCoordination, transcripts, and web: Katy Moore

On today's show Andrew and Bill begin with takeaways from the Central Economic Work Conference, including the latest push to stimulate domestic demand, why consumption is intertwined with security, speculation surrounding Politburo member Ma Xingrui, and a reminder that many of the economic challenges facing China remain intertwined with politics. From there: More thoughts on the sale of H-200s to China, and a look back on the stories that dominated the podcast this year, including a TikTok saga that still hasn't been resolved, the world tour of US-China negotiations, the PRC weathering the storm from the U.S., China's ongoing economic struggles, omnipresent EU questions, the Xi rumor mill, and Xi succession plans.

This week we talk about NVIDIA, AI companies, and the US economy.We also discuss the US-China chip-gap, mixed-use technologies, and export bans.Recommended Book: Enshittification by Cory DoctorowTranscriptI've spoken about this a few times in recent months, but it's worth rehashing real quick because this collection of stories and entities are so central to what's happening across a lot of the global economy, and is also fundamental, in a very load-bearing way, to the US economy right now.As of November of 2025, around the same time that Nvidia, the maker of the world's best AI-optimized chips at the moment became the world's first company to achieve a $5 trillion market cap, the top seven highest-valued tech companies, including Nvidia, accounted for about 32% of the total value of the US stock market.That's an absolutely astonishing figure, as while Nvidia, Apple, Microsoft, Alphabet, Amazon, Broadcom, and Meta all have a fairly diverse footprint even beyond their AI efforts, a lot of that value for all of them is predicated on expected future income; which is to say, their market caps, their value according to that measure, is determined not by their current assets and revenue, but by what investors think or hope they'll pull in and be worth in the future.That's important to note because historically the sorts of companies that have market caps that are many multiples of their current, more concrete values are startups; companies in their hatchling phase that have a good idea and some kind of big potential, a big moat around what they're offering or a blue ocean sub-industry with little competition in which they can flourish, and investment is thus expected to help them grow fast.These top seven tech companies, in contrast, are all very mature, have been around for a while and have a lot of infrastructure, employees, expenses, and all the other things we typically associated with mature businesses, not flashy startups with their best days hopefully ahead of them.Some analysts have posited that part of why these companies are pushing the AI thing so hard, and in particular pushing the idea that they're headed toward some kind of generally useful AI, or AGI, or superhuman AI that can do everyone's jobs better and cheaper than humans can do them, is that in doing so, they're imagining a world in which they, and they alone, because of the costs associated with building the data centers required to train and run the best-quality AI right now, are capable of producing basically an economy's-worth of AI systems and bots and machines operated by those AI systems.In other words, they're creating, from whole cloth, an imagined scenario in which they're not just worthy of startup-like valuations, worthy of market caps that are tens or hundreds of times their actual concrete value, because of those possible futures they're imagining in public, but they're the only companies worthy of those valuation multiples; the only companies that matter anymore.It's likely that even if this is the case, that the folks in charge of these companies, and the investors who have money in them who are likely to profit when the companies grow and grow, actually do believe what they're telling everyone about the possibilities inherent in building these sorts of systems.But there also seems to be a purely economic motive for exaggerating a lot and clearing out as much of the competition as possible as they grow bigger and bigger. Because maybe they'll actually make what they're saying they can make as a result of all that investment, that exuberance, but maybe, failing that, they'll just be the last companies standing after the bubble bursts and an economic wildfire clears out all the smaller companies that couldn't get the political relationships and sustaining cash they needed to survive the clear-out, if and when reality strikes and everyone realizes that sci-fi outcome isn't gonna happen, or isn't gonna happen any time soon.What I'd like to talk about today is a recent decision by the US government to allow Nvidia to sell some of its high-powered chips to China, and why that decision is being near-universally derided by those in the know.—In early December 2025, after a lot of back-and-forthing on the matter, President Trump announced that the US government will allow Nvidia, which is a US-based company, to export its H200 processors to China. He also said that the US government will collect a 25% fee on these sales.The H200 is Nvidia's second-best chip for AI purposes, and it's about six-times as powerful as the H20, which is currently the most advanced Nvidia chip that's been cleared for sale to China. The Blackwell chip that is currently Nvidia's most powerful AI offering is about 1.5-times faster than the H200 for training purposes, and five-times faster for AI inferencing, which is what they're used for after a model is trained, and then it's used for predictions, decisions, and so on.The logic of keeping the highest-end chips from would-be competitors, especially military competitors like China, isn't new—this is something the US and other governments have pretty much always done, and historically even higher-end gaming systems like Playstation consoles have been banned for export in some cases because the chips they contained could be repurposed for military things, like plucking them out and using them to guide missiles—Sony was initially unable to sell the Playstation 2 outside of Japan because it needed special permits to sell something so militarily capable outside the country, and it remained unsellable in countries like Iraq, Iran, and North Korea throughout its production period.The concern with these Nvidia chips is that if China has access to the most powerful AI processors, it might be able to close the estimated 2-year gap between US companies and Chinese companies when it comes to the sophistication of their AI models and the power of their relevant chips. Beyond being potentially useful for productivity and other economic purposes, this hardware and software is broadly expected to shape the next generation of military hardware, and is already in use for all sorts of wartime and defense purposes, including sophisticated drones used by both sides in Ukraine. If the US loses this advantage, the thinking goes, China might step up its aggression in the South China Sea, potentially even moving up plans to invade Taiwan.Thus, one approach, which has been in place since the Biden administration, has been to do everything possible to keep the best chips out of Chinese hands, because that would ostensibly slow them down, make them less capable of just splurging on the best hardware, which they could then use to further develop their local AI capabilities.This approach, however, also incentivized the Chinese government to double-down on their own homegrown chip industry. Which again is still generally thought to be about 2-years behind the US industry, but it does seem to be closing the gap rapidly, mostly by copying designs and approaches used by companies around the world.An alternative theory, the one that seems to be at least partly responsible for Trump's about-face on this, is that if the US allows the sale of sufficiently powerful chips to China, the Chinese tech industry will become reliant on goods provided by US companies, and thus its own homegrown AI sector will shrivel and never fully close that gap. If necessary the US can then truncate or shut down those shipments, crippling the Chinese tech industry at a vital moment, and that would give the US the upper-hand in many future negotiations and scenarios.Most analysts in this space no longer think this is a smart approach, because the Chinese government is wise to this tactic, using it itself all the time. And even in spaces where they have plenty of incoming resources from elsewhere, they still try to shore-up their own homegrown versions of the same, copying those international inputs rather than relying on them, so that someday they won't need them anymore.The same is generally thought to be true, here. Ever since the first Trump administration, when the US government started its trade war with China, the Chinese government has not been keen on ever relying on external governments and economies again, and it looks a lot more likely, based on what the Chinese government has said, and based on investments across the Chinese market on Chinese AI and chip companies following this announcement, that they'll basically just scoop up as many Nvidia chips as they can, while they can, and primarily for the purpose of reverse-engineering those chips, speeding up their gap-closing with US companies, and then, as soon as possible, severing that tie, competing with Nvidia rather than relying on it.This is an especially pressing matter right now, then, because the US economy, and basically all of its growth, is so completely reliant on AI tech and the chips that are allowing that tech to move forward.If this plan by the US government doesn't pan out and ends up being a short-term gain situation, a little bit of money earned from that 25% cut the government takes, and Ndvidia temporarily enriching itself further through Chinese sales, but in exchange both entities give up their advantage, long term, to Chinese AI companies and the Chinese government, that could be bad not just for AI companies around the world, which could be rapidly outcompeted by Chinese alternatives, but also all economies exposed to the US economy, which could be in for a long term correction, slump, or full-on depression.Show Noteshttps://www.nytimes.com/2025/12/09/us/politics/trump-nvidia-ai-chips-china.htmlhttps://arstechnica.com/tech-policy/2025/12/us-taking-25-cut-of-nvidia-chip-sales-makes-no-sense-experts-say/https://www.pcmag.com/news/20-years-later-how-concerns-about-weaponized-consoles-almost-sunk-the-ps2https://archive.is/20251211090854/https://www.reuters.com/world/china/us-open-up-exports-nvidia-h200-chips-china-semafor-reports-2025-12-08/https://theconversation.com/with-nvidias-second-best-ai-chips-headed-for-china-the-us-shifts-priorities-from-security-to-trade-271831https://www.economist.com/business/2025/12/09/donald-trumps-flawed-plan-to-get-china-hooked-on-nvidia-chipshttps://www.scmp.com/tech/tech-trends/article/3335900/chinas-moore-threads-unveil-ai-chip-road-map-rival-nvidias-cuda-systemhttps://www.investopedia.com/nvidia-just-became-the-first-usd5-trillion-company-monitor-these-crucial-stock-price-levels-11839114https://aventis-advisors.com/ai-valuation-multiples/ This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit letsknowthings.substack.com/subscribe

 Rare earth minerals may be a misnomer.  While they are critical minerals to our modern, digital life, they are not that rare.  The problem is finding them in concentrated places where it is economically and environmentally responsible to mine them.  This group of 17 metallic elements is crucial for modern technologies due to their magnetic and electrical properties.  They can be found in products as diverse as F-35 fighter jets, iPhones, wind turbines, televisions and night-vision goggles. While there are various ways of extracting them, mining is the primary method, though repurposing them from older digital devices is another approach.  With all that said, their value to modern economies cannot be overstated.  And given China’s stranglehold on the global market and the fact that America only has one functioning mine to date, has been a point of great friction in relations between the two nations.  We explore all of these topics on today’s podcast with Ernest Scheyder, the author of “The War Below:  Lithium, Copper and the Global Battle to Power Our Lives.”

In this episode of the RiskReversal Podcast, host Dan Nathan and guest Peter Boockvar, CIO at One Point BFG Wealth Partners, speak with Louis Vincent-Gave, CEO and founder of Gavekal, to discuss the evolving economic competition between the US and China. They explore the impact of past trade embargos, particularly the 2018 semiconductor embargo, and China's response which led to significant industrial advancements. The conversation touches on the implications for global markets, US companies, and the strategic shifts in industrial policy. They also delve into the potential outcomes of continued US-China rivalry, including the growing importance of AI technology, state capitalism, and the future role of the US and China in global trade. The episode highlights the complexities and potential shifts in economic power dynamics and the strategic responses required on both sides. —FOLLOW USYouTube: @RiskReversalMediaInstagram: @riskreversalmediaTwitter: @RiskReversalLinkedIn: RiskReversal Media

Japan prime minister Sanae Takaichi’s assertion that a Chinese invasion of Taiwan would be a threat to her nation’s survival has spurred a crisis between Tokyo and Beijing. Can de-escalation be achieved? See omnystudio.com/listener for privacy information.

The U.S.-China Science and Technology Cooperation Agreement (STA), the first bilateral agreement signed shortly after the United States and China established diplomatic relations in 1979, has been renewed multiple times. Scientists from the two countries have collaborated on cancer prevention, malaria treatment, vaccines, and more; the results of their efforts have benefited the people of both countries and the world. In August 2024, the STA expired, but on December 13, 2024, the two countries signed a protocol amending the STA and extending it for another five years, suggesting that rumors of the death of collaboration were premature. However, the actual agreement wasn't published for four months, in April 2025.  In an interview conducted on August 5, 2025, Scott Kennedy, Deborah Seligsohn, and Denis Simon speak with Abigail Coplin about the renewal of the STA, the future of U.S.-China scientific cooperation, and implications for overall U.S.-China relations.  About this program

In this episode of China Field Notes, Scott Kennedy speaks with historian Michael Szonyi about why fieldwork matters to social historians and trends in U.S.-China relations. Szonyi unpacks the concept of “history from below” and how doing fieldwork in localities helps social historians understand history from the perspective of everyday people, their practices, and community dynamics that are less visible when looking through the lens of the country's leaders or international politics. Drawing on years of research in places such as Quemoy and Yongtai (Fujian), he describes how local records, such as land deeds and genealogies, complicate familiar national narratives and reveal how ordinary communities experienced major political and geopolitical shifts. Kennedy and Szonyi conclude by discussing the role of historians as public intellectuals, the risks of scholarly decoupling, and why first-hand knowledge of China remains essential for navigating the future of U.S.-China relations. Michael Szonyi is Frank Wen-hsiung Wu Professor of Chinese History and former Director of the Fairbank Center for Chinese Studies at Harvard University. A social historian of late imperial and modern China, his books include The Art of Being Governed: Everyday Politics in Late Imperial China (2017) and Cold War Island: Quemoy on the Front Line (2008). His most recent works are The China Questions 2: Critical Insights into US-China Relations (co-edited with Adele Carrai and Jennifer Rudolph, 2022) and Making Meritocracy: Lessons from China and India, from Antiquity to the Present (co-edited with Tarun Khanna, 2022). He received his B.A. from the University of Toronto and his D.Phil. from Oxford, where he was a Rhodes Scholar. He has also studied at National Taiwan University and Xiamen University. He is currently writing a modern history of rural China and a study of a remarkable trove of local documents found in Yongtai County, China. In 2024, he was made an “Honorary Villager of Yongtai.”

Is the US or China winning the tech race, and what factors will determine the outcome? Mark Kennedy, founding director of the Wahba Initiative for Strategic Competition, and Paul Triolo, partner at DGA-Albright Stonebridge Group, discuss with Allison Nathan on the latest episode of Goldman Sachs Exchanges. This episode was recorded on November 10, 18, and December 9th, 2025. The opinions and views expressed herein are as of the date of publication, subject to change without notice, and may not necessarily reflect the institutional views of Goldman Sachs or its affiliates. The material provided is intended for informational purposes only, and does not constitute investment advice, a recommendation from any Goldman Sachs entity to take any particular action, or an offer or solicitation to purchase or sell any securities or financial products. This material may contain forward-looking statements. Past performance is not indicative of future results. Neither Goldman Sachs nor any of its affiliates make any representations or warranties, express or implied, as to the accuracy or completeness of the statements or information contained herein and disclaim any liability whatsoever for reliance on such information for any purpose. Each name of a third-party organization mentioned is the property of the company to which it relates, is used here strictly for informational and identification purposes only and is not used to imply any ownership or license rights between any such company and Goldman Sachs. A transcript is provided for convenience and may differ from the original video or audio content. Goldman Sachs is not responsible for any errors in the transcript. This material should not be copied, distributed, published, or reproduced in whole or in part or disclosed by any recipient to any other person without the express written consent of Goldman Sachs. Disclosures applicable to research with respect to issuers, if any, mentioned herein are available through your Goldman Sachs representative or at http://www.gs.com/research/hedge.html. © 2025 Goldman Sachs. All rights reserved. Learn more about your ad choices. Visit megaphone.fm/adchoices

Panama finally has an adult in the room. Under President José Raúl Mulino, the country is shifting away from drama-driven politics and toward competence, discipline, and steady governance. While much of the world sinks deeper into dysfunction, Panama is choosing a path grounded in seriousness and long-term stability. In today's episode, I break down what Mulino's leadership means for the country's future and why it matters for anyone building a serious Plan-B. If you want a clear understanding of where Panama is heading and why this moment matters, this is the analysis you don't want to miss. Enjoy! IN TODAY'S EPISODE Listen in to hear how José Raúl Mulino rose from placeholder candidate to the steady, competent leader reshaping Panama's political landscapeFind out how Mulino is defending Panama's sovereignty amid US-China pressure over the Canal and recalibrating the country's geopolitical positionLearn why Panama's entry into Mercosur represents one of the most consequential economic moves in its modern historyHear my full breakdown and latest updates on Panama's Investor Visa and why Panama residency is becoming more valuable than ever STAY IN TOUCH! Stay informed about the latest news affecting the expat world and receive a steady stream of my thoughts and opinions on geopolitics by subscribing to our newsletter. You will receive the EMS Pulse® newsletter and the weekly Expat Sunday Times; sign up now and receive my FREE special report, “Plan B Residencies and Instant Citizenships.” WEALTH, FREEDOM & PASSPORTS CONFERENCE, MARCH 6-7, 2026 Join us in Panama City from March 6-7, 2026, for our second annual in-person event, the Wealth, Freedom and Passports Conference! Get your tickets now, as space is very limited.  RELATED EPISODES 363: Expat News: Panama's Bitcoin Push, Portugal's Passport Delays And The EU's Insane Tax Proposal 340: Expat News: Trump Sends Rubio To Panama & Javier Milei's Meme Coin Scandal 336: Update: Panama Citizenship & Brazil TripMentioned in this episode:No Plan-B Without the LanguageIf you're planning to move overseas—or even just set up your offshore Plan-B—learning the local language isn't optional. It's protection. It's access. It's power. StoryLearning makes it easy to start today, from home, by immersing you in real...

China's October decision to add five rare earth elements to its export control list confirmed what policymakers have long feared. China controls 60% of global critical mineral production and over 80% of refining capacity for materials that power everything from electric vehicles to fighter jets. AI data center buildouts have only spiked demand further. Add cobalt to the picture—70% of global reserves sit in the Democratic Republic of Congo, and China owns roughly 70% of that production—and you have a supply chain built for peacetime that could collapse in a crisis. The alloys in today's F-35 engines depend on elements Beijing could cut off tomorrow.Joseph Krause argues the problem runs deeper than mining. Materials companies today are 75 to 150 years old. Some aerospace alloys still in use were developed for the Ford Model T. Meanwhile, China has been publishing the lion's share of advanced alloy research and aggressively recruiting metallurgy professors from American universities. China already fields a hypersonic capability using a niobium-based alloy; the US is scrambling to catch up. Krause's company, Radical AI, is building AI-powered labs to compress what typically takes 10 to 20 years and over $100 million in materials discovery into something dramatically faster and cheaper. The goal is inverse design: start with the exact properties the military needs, then work backward to find materials that don't require Chinese-controlled supply chains.The Trump administration has moved aggressively, taking a $400 million stake in MP Materials, putting $2 billion toward stockpiling strategic metals, and working to streamline permitting that currently takes seven to ten years for a single US mine. FAI's Farrell Gregory notes there's no silver bullet across the 60 minerals on the USGS critical minerals list, which ranges from rare earths at $8 billion in global market value to copper at $250 billion. The administration has shifted from blanket tax credits to case-by-case deals, prioritizing materials where Chinese leverage is highest and American action can make the biggest difference. Krause and Gregory join Evan to discuss the challenges facing the U.S. amid Chinese dominance in rare earth minerals and what policymakers can do to make the U.S. more resilient to supply chain shocks, including public-private partnerships and government funding.

Nicholas Burns spent 2021 to 2025 in Beijing as US Ambassador to China, witnessing up close the forces shaping the world's most dangerous rivalry.Sitting across from Xi Jinping and living in China, he saw firsthand how dangerously close the world is to a crisis. Some of it genuinely terrified him.Our conventional wisdom about China? Outdated. And dangerously wrong.In this episode, he reveals the alarming "nightmare scenario" almost no one is talking about, why a single unanswered phone call could spark disaster, and what we're getting wrong about China and what China is getting wrong about us.All from someone who lived it.

Pierre Poilievre says Conservative motion will force Liberals to 'put up or shut up' on oil pipeline support. Liberals say they will vote against it. Fighting on Thai-Cambodia border forces thousands to flee, shows no sign of stopping. Ukrainian President Volodymyr Zelenskyy says he is ready to present Ukraine's response to the US-proposed peace plan. Controversial bill that would require some ultra-Orthodox Jews to serve in Israel's military divides country. US President Donald Trump is greenlighting exports from AI giant Nvidia to China, a reversal in the US-China trade war.

Congress is back to work this week…And on the Senate's agenda—a vote on extending health care tax credits past the end of the month…Democrats want a simple three-year extension of the tax credits…Republicans oppose that but have yet to put out a plan of their own… The tax credits help millions of Americans pay for insurance on state-run exchanges…We'll hear what Sens. Thune and Schumer had to say about it on the floor earlier this afternoon… Also today, the White House announced a 12 billion dollars aid package to American farmers...who have been hurt by the US-China trade war…It includes 11 billion dollars in one-time payments to farmers who grow corn, cotton, soybeans and other crops…The President talked about it at a roundtable event…We'll hear from him coming up… And at the Supreme Court—oral arguments in the case of Trump v Slaughter…a case that centers on whether presidents can fire officials of independent agencies without cause…It all started back in March when President Trump fired Federal Trade Commission member Rebecca Slaughter…Saying that her service was “inconsistent” with his goals…. Rebecca Slaughter then sued, arguing that she can be removed only for specific reasons…Today the court heard this case…We'll play you part of what happened inside the court room… Learn more about your ad choices. Visit megaphone.fm/adchoices

How does China's economy affect US policy? US policymakers have responded to perceived dangers from China by using industrial policy, export controls, and attempting to reduce supply chain vulnerabilities. Some analysts have concluded that China is developing a sizable technological capacity that poses a challenge to the US economy, and potentially constrains US foreign policy. How much leverage has the Chinese economy purchased for policymakers in Beijing? What does the ceasefire in the US-China trade war tell us about the future of US-China competition? Finally, what do these questions about China's economy tell us about the security threat China potentially poses?Getting the answers to these questions right is essential for crafting an effective US grand strategy. This policy forum brings together two leading experts on Chinese political economy to discuss what China's economy really looks like and what the implications are for US grand strategy. Hosted on Acast. See acast.com/privacy for more information.

In this episode of the China Power Project, Chad Sbragia joins us to discuss the current state of U.S.-China mil-mil relations and the overall defense relationship between the two countries. He provides his insight into the continuities and changes in defense ties between the countries from the first Trump administration until now and the current opportunities that exist for greater engagement and increased understanding between the two sides. Sbragia also discusses his key takeaways from this year's Xiangshan forum, Beijing's premier defense and security forum, and what he is looking out for in the upcoming release of the U.S. National Defense Strategy and China Military Power Report. Chad Sbragia is currently a Research Staff Member at the Institute for Defense Analyses. Previously he served as the Deputy Assistant Secretary of Defense for China in the Office of the Assistant Secretary of Defense for Indo-Pacific Security Affairs within the Office of the Secretary of Defense.

Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links —Apple PodcastsSpotifyTikTokYouTubeFutures and options trading involves risk of loss and is not suitable for everyone.

Erika Elvander served her country as a federal career health diplomat for 27 years, including as the U.S. Health Attache in Beijing from the spring 2021 until the end of 2024. Her Asia passion ignited while a student in Hong Kong and traveler to Beijing in the late 1980s. And carried forward for the following decades. As Health Attache in Beijing during COVID, she witnessed China “digging in,” pursuing its 18 months of the fierce controls imposed under “static management.” "Achievements with China are incremental.” She was able to maintain dialogues with Chinese health officials, despite the fraught US-China relationship. Today, the COVID origins quagmire does persist and impede the U.S.-China relationship, six years after the advent of Covid. But “there has to be a path forward,” built on many opportunities in health.

In the 1970s, long before “Made in China” became inescapable, a series of seemingly small diplomatic and trade decisions quietly rewrote the global economic order. What began as symbolic textile imports and geopolitical chess moves ended up hollowing out American manufacturing, lifting hundreds of millions of Chinese out of poverty, and creating the interdependent yet tense superpower rivalry we live with today. Elizabeth O'Brien Ingleson is a historian specializing in the histories of capitalism, US-China relations, and US foreign relations. She is also an Associate Professor at the International History Department at the London School of Economics, co-organizer of the LSE-Tufts Seminar in Contemporary International History, and Author of Made in China: When US-China Interests Converged to Transform Global Trade. Website - elizabethingleson.com Made in China - harvard.edu 10/21/2025

Darren is joined by returning guest Richard Maude to unpack what Australian foreign policy looks like in late 2025. The conversation centres on Foreign Minister Penny Wong's recent AIIA speech, which Darren argues—mostly with Richard's agreement—marks a clear evolution in Australia's foreign policy doctrine. The traditional three pillars — alliance, region, and rules — have been replaced by a new framework, the "Four Rs": Region, Relationships, Rules, and Resilience. The discussion explores what this shift reveals about how Canberra sees the world today, and what it tells us about Australia's strategic priorities as the international environment becomes more volatile. Together, they assess how well the government is executing each of the “Four Rs” in practice — from strengthening ties across Southeast Asia and the Pacific, to managing the alliance with an unpredictable Washington, stabilising relations with Beijing, and linking foreign policy more overtly with domestic resilience. They ask whether Australia is being suitably ambitious in shaping the regional security environment, or whether it risks becoming over-focused on Southeast Asia at the expense of alliance leadership and broader coordination with partners like Japan, Korea and Europe. Darren and Richard also grapple with Australia–China relations. Is Canberra being too cautious in public language — or sensibly risk-averse? Darren frames the question as whether the greater risk currently lies in under-reacting to the threat posed by China, or in over-reacting. And how should Australia manage economic dependence on China given the limits of diversification and the “iron laws” of trade?  The fourth R is resilience, and they discuss whether tying domestic policy to foreign policy is a strength or a political trap. They consider how resilience language enables governments to justify hard economic choices, while also warning against overselling national security policy as economic strategy. Finally, Darren and Richard look ahead to 2026. Richard nominates three global questions to watch closely: the trajectory of US–China relations, the fate of Ukraine, and whether anything remains of the liberal international project. Darren adds his own focal points: Australia's critical minerals strategy, Europe's struggle with Chinese economic leverage, and the political durability of Trump's dominance ahead of the US midterms. A wide-ranging episode on doctrine, diplomacy and domestic politics — and what it all means for Australia navigating a world that feels, as Richard once put it, "completely stuffed". Australia in the World is written, hosted, and produced by Darren Lim, with research and editing this episode by Hannah Nelson and theme music composed by Rory Stenning. Relevant links Richard Maude (bio): https://asiasociety.org/policy-institute/richard-maude Penny Wong, “AIIA Gala Dinner Keynote Address”, 17 November 2025: https://www.foreignminister.gov.au/minister/penny-wong/speech/aiia-gala-dinner-keynote-address Darren Lim and Hannah Nelson, “From Three Strands to Four Rs: The Evolution of Australian Foreign Policy”, Australian Outlook, 21 November 2025: https://www.internationalaffairs.org.au/australianoutlook/from-three-strands-to-four-rs-the-evolution-of-australian-foreign-policy/ Penny Wong, “Speech to the ANU National Security College “Securing our Future”, 9 April 2024: https://www.foreignminister.gov.au/minister/penny-wong/speech/speech-anu-national-security-college-securing-our-future Allan Gyngell, Fear of Abandonment: Australia in the World since 1942: https://www.blackincbooks.com.au/books/fear-abandonment Heather Smith, “Australia and Economic Cold War – Drifting into the New Paradigm”, AIIA 2025 National Conference Address, 17 November 2025: https://www.internationalaffairs.org.au/australianoutlook/australia-and-economic-cold-war-drifting-into-the-new-paradigm/ Penny Wong, TV interview, ABC Insiders (with David Speers), 16 November 2025: https://www.foreignminister.gov.au/minister/penny-wong/transcript/tv-interview-abc-insiders-0 Eli Hayes and Darren Lim, “Not every critical mineral is equal – and Australia's policy should reflect this”, Lowy Interpreter, 10 November 2025: https://www.lowyinstitute.org/the-interpreter/not-every-critical-mineral-equal-australia-s-policy-should-reflect Darren Lim and Nathan Attrill, “Australian debate of the China question: The COVID-19 case”, Australian Journal of International Affairs (2021): https://www.tandfonline.com/doi/full/10.1080/10357718.2021.1940094 (gated) or https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3856586 (ungated) Jedediah Britton-Purdy and David Pozen, “What are we living through?”, Boston Review, 15 October 2025: https://www.bostonreview.net/articles/what-are-we-living-through/ Lachlan Strahan, The Curious Diplomat: A memoir from the frontlines of diplomacy (Monash University Publishing, 2025): https://publishing.monash.edu/product/the-curious-diplomat/ Nick Potkalitsky, “Where Should Student AI Literacy Live?”, Educating AI (Substack), 25 September 2025: https://nickpotkalitsky.substack.com/p/where-should-student-ai-literacy Ethan Mollick, “The Best Available Human Standard”, One Useful Thing (Substack), 22 October 2023: https://www.oneusefulthing.org/p/the-best-available-human-standard Ethan Mollick, “15 Times to use AI, and 5 Not to”, One Useful Thing (Substack), 9 December 2024: https://www.oneusefulthing.org/p/15-times-to-use-ai-and-5-not-to

In this episode of Excess Returns, we sit down with Louis-Vincent Gave of Gavekal Research for one of the most wide-ranging and eye-opening conversations we have ever hosted. Louis breaks down how China transformed its economy over the last seven years, why Western observers consistently misunderstand the country's growth model, and what this means for global markets, AI competition, supply chains, currencies, energy, demographics, and the next decade of investing. If you want a clearer picture of China, global macro dynamics, and the forces shaping markets today, this is essential viewing.Topics covered in this episode:• Why Western investors misread China's economy• China's response to the US semiconductor embargo• How China redirected all lending toward industry• The scale and speed of China's move up the value chain• China's EV dominance and the BYD vs. Tesla comparison• The new global deflation and reflation forces• Why China now looks like the US did in 2009• Energy, labor, and industrial competitiveness• China's open-source AI approach vs. America's closed systems• “Hunger Games” capitalism and the impact on investors• Where foreign investors consistently get China wrong• The RMB as the most mispriced major asset• How China's demographics shape policy and markets• Why fears of a Taiwan conflict are overblown• How Louis is positioning for China's next bull marketTimestamps:00:00 China's economic shock and the US semiconductor embargo02:00 What the West gets wrong about China04:00 Competition, local governments, and industrial incentives06:10 China's lending shift: real estate to industry08:00 China's rapid climb up the value chain10:00 BYD vs Tesla and China's engineering surge12:30 The global deflationary shock and US–China tensions15:00 From defense to offense: China's policy pivot17:00 China's reflation and emerging market implications18:20 Scarcity of energy, labor, and time21:00 China's cost advantages vs the US24:00 Comparing AI strategies: open vs closed systems28:00 “Hunger Games” capitalism in China31:30 Investing challenges and opportunities in China34:00 China's new high-tech niche champions37:00 Capital-light Chinese AI vs US capital intensity40:30 Rethinking US-China blocs and global alliances44:00 Why Europe will be torn apart by the next phase45:30 Will China outperform the US over the next decade?47:00 The massively undervalued RMB49:00 China's barbell investment setup50:00 China's demographic crisis and policy response53:00 Taiwan risk: myth vs reality58:00 How Louis could be wrong01:00:40 Louis's contrarian investing belief01:02:00 Louis's one lesson for investors

Lee Camp breaks down the real-world fallout of the US–China trade war and why the “big win” headlines don't match what actually happened. With sharp comedy and clear receipts, Lee explains how tariffs, supply-chain pressure, and political grandstanding pushed everyday Americans—especially farmers and manufacturers—into the blast zone, only for policy to drift back toward the same place it started. If you've been wondering what the trade deal really changed, this episode connects the dots in plain English.A big focus here is rare earth minerals, the not-so-glamorous backbone of modern technology. Lee walks through how these materials power everything from phones and batteries to advanced industrial systems, and why refining matters as much as mining. You'll hear why China remains a key player in rare earth processing, how that leverage shaped negotiations, and what it means for the future of US-China economic competition, high-tech manufacturing, and global supply chains.Lee also dives into the changing balance of innovation and production, including how China's tech growth is reshaping global markets. From electronics to AI, this segment explores why older assumptions about “cheap imports” no longer hold, and what happens when a trade strategy collides with a world where technological leadership is up for grabs. Expect some hilarious metaphors—plus a sober look at how policy choices ripple through research, industry, and the broader economy.Then the show pivots to newly revealed ExxonMobil documents and the global story of climate messaging, fossil fuel subsidies, and stalled progress on emissions. Lee outlines how disinformation campaigns spread internationally, why climate commitments keep missing their targets, and how massive public subsidies for fossil fuels complicate the path forward. If you care about energy policy, climate solutions, and who's shaping the narrative behind the scenes, this part is essential viewing.Watch, share, and subscribe for more fearless comedy and deep-dive analysis every week. Drop your thoughts in the comments: How should the US handle trade with China? And what needs to change for real climate progress?My comedy news show Unredacted Tonight airs every Thursday at 7pm ET/ 4pm PT. My livestreams are on Mon and Fri at 3pm ET/ Noon PT and Wednesday at 8pm ET/ 5pm PT. I am one of the most censored comedians in America. Thanks for the support!

Chris McGuire, senior fellow for China and emerging technologies at the Council, sits down with James M. Lindsay to discuss whether U.S. efforts to deny China advanced semiconductor chips will sustain the U.S. lead in artificial intelligence or unintentionally accelerate Chinese innovation.   This is the fifth episode in a special series from The President's Inbox, bringing you conversations with Washington insiders to assess whether the United States is ready for a new, more dangerous world.   Mentioned on the Episode:   Bethany Allen and Jenny Wong Leung, "Trump's Crackdown on Chinese Students Ignores a Startling New Reality," New York Times   Raffaele Huang, "Chinese Officials Urge Firms to Shun Nvidia AI Chip," Wall Street Journal   Arjun Kharpal, "China's Key Weapons in Its AI Battle With the U.S.—Massive Huawei Chip Clusters and Cheap Energy," CNBC   For an episode transcript and show notes, visit The President's Inbox at: https://www.cfr.org/podcasts/tpi/are-we-ready-us-china-chip-war-chris-mcguire

PREVIEW Brendan Weichert comments on the US-China AI race. While executives suggest China might win, the US has restricted sales of high-end chips, fearing misuse. China claims chip breakthroughs are imminent. Both sides are developing rapidly: China appears stronger in robotics, while the US maintains a lead in AI software development. Guest: Brendan Weichert.

PREVIEW. China's APEC Goal: Buying Time Amidst Internal Power Factions. John Batchelor and General Blaine Holt discuss the US-China APEC deal, suggesting China's only goal was to buy time. This time is crucial because Xi Jinping is an "ornamental leader," and various factions are vying for control of the Chinese Communist Party. The conversation also notes increasing unrest and rising public anger among the Chinese people. 1906

PREVIEW. The DeepSeek AI Model: Low Cost, Open Source, and Security Risks. John Batchelor and Jack Burnham discuss the US-China AI contest and microchips, noting China's ban on the best chips. DeepSeek, an open-source, low-cost model, is appealing but may not perform as well as American models. Concerns persist about its true costs, potential use of Nvidia chips, and security flaws like providing CCP talking points. 1954