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    Sharp China with Bill Bishop

    (Free) Hollerin’ About Yellen; Gallium and Germanium Warnings; Understanding PRC Domestic Challenges; The Barbie Movie Banned in Vietnam

    Wed Jul 12 2023
    US-China relationsJanet YellenChina's influenceHealth issues in ChinaHollywood and Chinese censorsTravel alerts for ChinaControversy surrounding maps

    Description

    The episode covers Victor Wembanyama's NBA Summer League debut, Janet Yellen's visit to China, US-China structural tensions and communication challenges, China's actions and international reactions, concerns and challenges in US-China relations, indictment and controversy surrounding China's influence, health issues and economic challenges in China, China's internal struggles and Hollywood's compliance, and travel alerts and controversy surrounding maps.

    Insights

    US-China meetings lack substance

    The meetings between Janet Yellen and Chinese officials did not have much substance in the readout.

    Toxic behavior in foreign policy discussions

    There is misogyny and toxic behavior in foreign policy discussions.

    China's control over critical resources

    China has a monopoly on processing critical minerals and resources because they are willing to accept the environmental costs, making it cheaper for other countries to buy from them.

    Controversy surrounding China's influence

    Indictment alleges that Loved recruited a former high-ranking U.S. official to make public statements in the interest of China.

    Health issues and economic challenges in China

    Chin Gong, the Foreign Minister of the PRC, has been out of sight for 17 days due to health issues.

    Hollywood's compliance with Chinese censors

    Hollywood studios are under pressure to appease Chinese censors.

    Travel alerts and concerns in China

    The US State Department's travel alerts and warnings about China should be taken seriously.

    Controversy surrounding maps in media

    There is controversy surrounding a map in the Barbie movie 'Barbieland' that depicts the South China Sea.

    Chapters

    1. Victor Wembanyama's NBA Summer League Debut
    2. Janet Yellen's Visit to China
    3. US-China Structural Tensions and Communication Challenges
    4. China's Actions and International Reactions
    5. Concerns and Challenges in US-China Relations
    6. Indictment and Controversy Surrounding China's Influence
    7. Health Issues and Economic Challenges in China
    8. China's Internal Struggles and Hollywood's Compliance
    9. Travel Alerts and Controversy Surrounding Maps
    Summary
    Transcript

    Victor Wembanyama's NBA Summer League Debut

    00:05 - 07:28

    • Victor Wembanyama struggled in his debut at NBA Summer League

    Janet Yellen's Visit to China

    07:08 - 13:56

    • Janet Yellen visited China and emphasized diverse supply chains instead of decoupling
    • The Yellen meetings were positive but didn't result in structural breakthroughs
    • The meetings between Janet Yellen and Chinese officials did not have much substance in the readout
    • Janet Yellen's triple bow to Vice Premier Liu He has caused controversy, but it is not a significant issue
    • Chinese female economists who met with Janet Yellen faced backlash on social media in China

    US-China Structural Tensions and Communication Challenges

    13:36 - 20:24

    • Structural tensions between the US and China will persist regardless of rebranding efforts
    • The Chinese perspective sees derisking as different from decoupling
    • US officials may sound clueless or disingenuous when discussing their intentions with China
    • Meetings and communication with China's new leadership team are important, but giving away too much is a problem

    China's Actions and International Reactions

    20:05 - 26:55

    • There are rumors of upcoming actions from the US government, such as semiconductor export controls and outbound investment controls
    • The outbound investment controls may be watered down due to a push for thaw and stabilization
    • China announced restrictions on exports of gallium and germanium, which are used to make microchips, but it's unclear if they will actually restrict them or just add bureaucratic steps
    • This move by China may backfire as it highlights vulnerabilities in certain supply chains and encourages diversification among U.S. allies
    • China has a monopoly on processing critical minerals and resources because they are willing to accept the environmental costs, making it cheaper for other countries to buy from them
    • TSMC is not concerned about the restrictions, but other countries may start looking for alternative sources of critical minerals

    Concerns and Challenges in US-China Relations

    26:34 - 33:58

    • There are forces on both sides not interested in seeing a positive relationship
    • The Chinese Internet is heavily censored, limiting what can be said
    • There is misogyny and toxic behavior in foreign policy discussions
    • People with bigger platforms are circulating toxic messages
    • If the Chinese government wants to increase engagement and understanding, they should encourage discussions like this one

    Indictment and Controversy Surrounding China's Influence

    33:35 - 40:09

    • Indictment alleges that Loved recruited a former high-ranking U.S. official to make public statements in the interest of China
    • GAL left, a witness, allegedly disappeared and claimed to have evidence of the Bidens being influenced by China
    • GAL left had connections with CEFC Energy, the same company that paid Hunter Biden and his uncle
    • The involvement of a former CIA director adds complexity to the situation and fuels speculation about political motivations behind the charges

    Health Issues and Economic Challenges in China

    39:55 - 47:02

    • Chin Gong, the Foreign Minister of the PRC, has been out of sight for 17 days due to health issues
    • China's economic challenges include issues in the real estate market and employment
    • Youth unemployment is a concern for political stability
    • Environmental issues are also significant in China, with efforts being made to address them

    China's Internal Struggles and Hollywood's Compliance

    46:44 - 53:45

    • The Chinese government is aware of the challenges and problems in the country
    • Xi Jinping started talking about three tough battles after the 19th party Congress in 2017: environmental protection and pollution, financial risks, and poverty alleviation
    • Progress has been made on environmental issues and some progress on financial risks, but not as much as desired
    • Poverty alleviation was declared a victory, but there were instances of fake results due to political pressure
    • Hollywood studios are under pressure to appease Chinese censors
    • Views are starting to shift in Hollywood due to increased competition and decreased profitability in the Chinese market

    Travel Alerts and Controversy Surrounding Maps

    53:18 - 1:06:29

    • The US State Department's travel alerts and warnings about China should be taken seriously
    • Exit bans in China are a real concern for Americans who have no recourse
    • Enforcement of laws in China can be ambiguous and capricious, making detainment more complicated than in other countries
    • While most people going to China aren't committing crimes, there is still a risk due to lack of transparency and capriciousness
    • Vietnam banned the movie Barbie because it allegedly showed a Chinese map of territory in the South China Sea
    • There is controversy surrounding a map in the Barbie movie 'Barbieland' that depicts the South China Sea
    • The possibility of the Barbie filmmakers consciously inserting eight dashes on the map to reflect China's territorial claims is not discounted
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