Keyu Jin: belief

Transcript context

…So to you, maybe when you refer to Biden and Trump, if you go back to Biden, it would be the CHIPS Act. So the export controls created unintended, unexpected effect where it had the reverse geopolitical effect. I hope it was unintentional. Otherwise, you’d be questioning the level of intelligence of the US administration. But I think that the things they laid out did the opposite of what was intended. It sped up domestic capacity. It motivated the whole country to do this whole of a nation program to go after technologies, kind of like the way they go after Olympics, Olympic gold medals. They wanted to maximize Olympic gold medals, and they put the whole nation at work and all the resources, and that’s what China did. Huawei, another example, they were sanctioned. Guess what? They have come back to life stronger than ever before. And this is not unique to this episode. If we look throughout history, these blockades don’t work. The continental system actually indirectly led to Industrial Revolution in the UK. When the Spanish blockade, the Portuguese, they came up with a very ferocious, forceful naval power. And you’re talking about China here. They just don’t lie down and lie flat and say, “Oh, we give up.” Right? They’re more motivated than ever before. So the lesson is don’t force people or nations into a corner.…

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