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🇺🇸Prof. Jeffrey Sachs: “We should drop the delusions that we can overthrow governments at will or tell the Latin American countries you can't deal with China, for example, another sub-theme of this strategy, because all of that is arrogance that's going to lead to a downfall”

18,577 views • 8 months ago •via X (Twitter)

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Speaking in the Steel Industry (Special Measures) Bill debate today, we should all focus on the requirement to save the jobs of those 3,500 people who have this threat hanging over them. China is pushing to shut down British steel industries, pushing forward to shut down the blast furnaces in the UK. Far too many countries like China have abused the rules of the free market, have subsidised their industries ridiculously, and have used slave labour to produce products. When that happens, the free market is dead. China now itself is suffering from an overproduction of steel. Their own housing industry has gone static on them, and they were one of the biggest users of the steel produced by China. Where is that steel going to go? It’s no surprise that a Chinese company Jingye is involved in this, because by pushing forward to shut down the blast furnaces in the UK, they know that we will have to buy slab steel from China. This is not a coincidence. This is all part of the plan. We must recognise that we will have to deal with those whom we trust and who do not break the rules. That means a whole rethink of the Government’s China policy. The previous Conservative Government should never have awarded it the contract, and I warned them about that. It is time for us to make sure that we deal with China at face value and do not accept the pretence that this company is private or in any way detached from its Government. That is a critical point. Cheap Chinese steel is a desperate problem for us, and we need to work with other countries in dealing with it. We also need to get our costs down. On Net Zero, I hope that the Secretary of State will tell the Secretary of State for Energy Security and Net Zero that we cannot go on like this. #BritishSteel

Iain Duncan Smith MP Chingford & Woodford Green

24,259 views • 1 year ago

Chamath: "Nvidia is not doing what's in the best interest of the United States." 🇺🇸🇨🇳 "I think we can all do the math. About 47% of all of NVIDIA's revenue goes to China and Chinese-related countries." "And I think when you peel back this onion, what you will find is a whole raft of companies that were stood up to buy these Nvidia GPUs to essentially act as a waystation for China." "And I think that is the big problem." "Let's have a thought starter: if 47% of all of the AI capability and horsepower is being shipped to three Asian countries, where do you think the apps that require that amount of horsepower live?" "Is there a Cursor of Bhutan that we did not know? Is there a great shopping app in Cambodia that's come out of nowhere, that's AI powered?" "I think the answer is no." "Every single time we have an advance in the United States, how is it that Alibaba shows up with something incredible? DeepSeek shows up with something better?" "At every turn and at every step of AI, they are at the same rate or one step ahead." "To be honest with you, I think the real problem that we have is that Nvidia is not doing what is in the best interest of the United States." "You have a American company that has been working around the guidelines at every turn to try to land silicon into the hands of China." "Late last year, they introduced this thing called the H20 that was explicitly designed for China and to be compliant with US rules at the time." "Which again, gives these guys substantial performance." "This is a case where (Nvidia) has plausible deniability. I sell something to a Singaporean registered company? Plausible deniability." "What am I supposed to do? You can't expect me to audit it. I think that's what NVIDIA's answer will be to this question." "But what is the real expectation? At a minimum, the United States should have a mechanism to understand it." "It is implausible that if you did one or two layers of work, you would not find that most of this traffic is being used by Chinese organizations."

The All-In Podcast

910,450 views • 1 year ago