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519. Has Globalization Failed?

Freakonomics Radio

The Biden Administration Is Trying to Bring Together Multiple Narratives

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The Biden administration is actually trying to bring together multiple narratives. I think the CHIPS Act and also the Inflation Reduction Act both have this element. It's got a very strong resilience aspect to the narrative of not wanting to rely on semiconductors being manufactured 90% in Taiwan, which may be subject to invasion. So that really combines a geoeconomic narrative of wanting to invest in cutting edge technologies against global competition.

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