Just a theory on Zero Covid. . . there is a thing called long COVID, so if you open up your economy, your people get COVID, and more end up with long COVID cases and ultimately more disabled people out of the work force, and then you have labor shortages which contribute to inflation. If you take the short-term perspective, and maybe you can just import more workers, opening the economy makes sense. If you take a long-term perspective, and if you don't have much immigration potential, it probably makes more long-term sense not to cripple a significant fraction of your productive work force. I assume the CCP has run the numbers and looked at the long-term.
Im still a bit unclear about why the semi-conductor must be exclusive to Taiwan and what exactly is preventing us from catching up. I get that it’s a highly complex field with a handful of experts at the top who actually understand how it works. I get that it’s all protected by IP. But he mentions that China has been hiring away the talent from Taiwan to develop their own industry. What is preventing the US from doing the same? Surely we have the funds to do so. Why can’t we take a dozen of the top ranked people in the industry, and give them a blank check to come to the US for 5 or so years to help develop this industry, promising to share profits with them indefinitely? Or something like that. I find it hard to believe the US lacks engineers that are smart enough to compete. Also, What are the odds of a breakthrough in technology happening that makes the chip manufacturing in Taiwan obsolete, or at least less important? It seems weird that a small country like Taiwan is the ONLY place capable of making this crucially important technology.
love the written transcript -- for those that like reading !
Very gripping discussion BTW! This guy is not a CNN moron.
Just a theory on Zero Covid. . . there is a thing called long COVID, so if you open up your economy, your people get COVID, and more end up with long COVID cases and ultimately more disabled people out of the work force, and then you have labor shortages which contribute to inflation. If you take the short-term perspective, and maybe you can just import more workers, opening the economy makes sense. If you take a long-term perspective, and if you don't have much immigration potential, it probably makes more long-term sense not to cripple a significant fraction of your productive work force. I assume the CCP has run the numbers and looked at the long-term.
Im still a bit unclear about why the semi-conductor must be exclusive to Taiwan and what exactly is preventing us from catching up. I get that it’s a highly complex field with a handful of experts at the top who actually understand how it works. I get that it’s all protected by IP. But he mentions that China has been hiring away the talent from Taiwan to develop their own industry. What is preventing the US from doing the same? Surely we have the funds to do so. Why can’t we take a dozen of the top ranked people in the industry, and give them a blank check to come to the US for 5 or so years to help develop this industry, promising to share profits with them indefinitely? Or something like that. I find it hard to believe the US lacks engineers that are smart enough to compete. Also, What are the odds of a breakthrough in technology happening that makes the chip manufacturing in Taiwan obsolete, or at least less important? It seems weird that a small country like Taiwan is the ONLY place capable of making this crucially important technology.