Special guest Rana Faroohar joins Krystal and Saagar to discuss the influence of cable news, skepticism towards polling, and the impact of the pandemic on students' test scores. They also explore Democrats' messaging strategies, the surprising reversal of U.S. fertility rates, and the end of unfettered globalization.
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Quick takeaways
Dissenting views on Ukraine policy are met with backlash, even when advocating for diplomatic solutions.
Tensions rise in Ukraine as Russia claims potential dirty bomb threat, raising concerns of escalation.
US charges two Chinese intelligence officers with obstructing a criminal prosecution, highlighting ongoing tech wars.
Foreigners sell record $2.5 billion in Chinese shares, signaling investor worries and impact on Chinese markets.
Deep dives
Democrats call for diplomatic push in Ukraine
A group of 30 House Democrats, led by Representative Pramila Jayapal, have called on President Biden to prioritize vigorous diplomatic efforts in Ukraine and seek a negotiated settlement and ceasefire. The letter emphasizes the importance of exploring diplomatic avenues and engaging in direct talks with Russia. However, the Democrats quickly faced backlash and issued a statement clarifying their commitment to supporting Ukraine. The strong reaction illustrates the lack of space for dissenting views on Ukraine policy, even when advocating for diplomatic solutions.
Russia claims of dirty bomb threat escalate tensions
Tensions continue to rise in Ukraine as Russia maintains claims of a potential dirty bomb threat. Both the US and Russia have issued statements on the matter, with the US saying it sees no indication that Russia is preparing to use nuclear weapons, but calling the dirty bomb claims a pretext for escalation. Meanwhile, Russia's foreign minister has stated that there will be a dirty bomb warning, raising concerns about potential escalation of the conflict.
DOJ indicts Chinese spies, highlighting tech wars
The US Department of Justice has unsealed an indictment charging two Chinese intelligence officers with attempting to obstruct a criminal prosecution of a Chinese telecommunications company in the US. The case highlights the ongoing tech wars between the two countries, with the US accusing the Chinese officers of directing an employee at a US government law enforcement agency to steal confidential information regarding the prosecution.
Chinese markets hit due to foreign sell-off and Biden administration moves
China's markets experienced significant losses as foreigners sold a record $2.5 billion in mainland shares amid concerns over the Chinese government's inward-looking approach and Biden administration actions targeting Chinese tech companies. The sell-off signals investor worries about future business prospects and difficulty for foreigners in China, especially in relation to the Chinese semiconductor industry. While the moves have impacted Chinese markets, the Chinese Communist Party remains driven by its broader priorities rather than solely economic considerations.
The end of hyper-globalization and the rise of a new economic paradigm
The book highlights the shift away from unfettered globalization and the neoliberal economic paradigm that has dominated for the past few decades. It explores the consequences of this shift, including in-country inequality and the hollowing out of certain regions. The COVID-19 pandemic and geopolitical tensions have accelerated the move towards a new economic model.
The rise of domestic manufacturing and agile supply chains
The book gives examples of how companies have shown agility in adapting their production and supply chains during the pandemic, such as textile companies shifting to mask production. It argues that there is more manufacturing competitiveness in the US than is commonly perceived, and that domestic manufacturing can have benefits in terms of higher labor and environmental standards, as well as reducing supply chain risks.
The need for a new trade system based on values
The book discusses the concept of 'friend-shoring,' which focuses on trading with companies that uphold good labor and environmental standards. It advocates for trade policies that incentivize responsible production and rewards domestic producers who meet higher standards.
Challenges and considerations in the transition
The transition away from hyper-globalization and neoliberalism will have its challenges, including addressing inflation and the need to price products more realistically. The book also highlights the need for companies and policymakers to focus on innovation, building resilience, and creating sustainable shared growth.
Krystal and Saagar cover midterm updates, the war in Ukraine, a major DOJ announcement on China, plummeting math scores in the US, a cringe MSNBC segment, the birth rate crisis, and welcome a special guest, Rana Faroohar.
