Manifold China Today: Myths and Realities — #65
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Aug 1, 2024 In this engaging discussion, tech founder Victor shares his seven years of experience in Beijing. He dives into the post-COVID economic landscape and the real estate bubble, shedding light on the semiconductor industry's challenges amid U.S.-China tensions. Victor also contrasts STEM education between the U.S. and China, emphasizing the latter's rising workforce capabilities. The conversation explores cultural leadership styles in tech, highlighting differences in approaches between East and West, and concludes with reflections on the misperceptions surrounding China.
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China's Economic Reorientation
- China's government deliberately popped a massive real estate bubble.
- This bubble burst is impacting the economy, but the government is steering investments towards advanced manufacturing and technology.
Unintended Consequences of Chip War
- The US chip war inadvertently benefited Chinese semiconductor startups.
- By threatening sanctions, the US forced Chinese companies to rely on domestic alternatives.
Chips Act and US Limitations
- The Chips Act aims to slow China and onshore US manufacturing.
- However, the US struggles with implementation due to various internal factors.