underscored

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The key here is that China doesn't mine most of these minerals — it refines them. Other countries dig up the ore and ship it to China, and China uses a bunch of chemical engineering to turn them into usable materials for industry. Most of the world shipped their metal refining to China, because it's a dirty, capital-intensive, low-margin industry. But now as a result, China controls a bunch of key industrial chokepoints.

— Noah Smith
4w ago

Half a century ago China was among the poorest countries on earth. Today its companies ship more humanoid robots than the rest of the world combined, supply many of the components other robot makers need, and are spending billions to teach these machines to think.

1mo ago
stratechery.com
2026.38: Doomforce

rising discontent across Chinese social media is not necessarily a reflection of the limits of that aforementioned censorship, but possibly a window into how the Party manages social malaise.

1mo ago

Over the past 18 months, the Shanghai Composite Index has risen 17.3 per cent. That is a respectable return, but it has not beaten the S&P 500 or the Nasdaq. The real gains have happened elsewhere, among the technology companies listed on ChiNext, Shanghai's STAR Market and the Hong Kong Stock Exchange.

2mo ago

This is perhaps one of the biggest efforts by Beijing to turn a fantastic vision of the future into reality, almost by force of will. They know the technology is not ready, but they think if they can turn it into this big spectacle that will crowd in investment and trigger this boom.

2mo ago

The China of 2036 will be vastly different than the China of 2026. Companies that used to manufacture luxury handbags are now becoming the brands themselves. Investors who used to copy American VCs are now running their own state-backed deeptech playbooks.

2mo ago

When he entered office, East Asia had 1.22 billion people living on less than $3 a day (in 2021 dollars) — more than half the world's total. By the time Xi Jinping became China's top leader, that number was one-sixth of what it had been: This is the biggest and fastest decrease in absolute poverty that the human race has ever seen.

2mo ago

According to China's official statistics, the Chinese economy shrank by 0.8% in the second quarter of 2022: China's growth is usually reported in year/year numbers, but quarter/quarter is how the U.S. and most countries do their reporting. So by the kind of measurement Americans are used to hearing about, China's economy officially contracted at an annualized rate of over -3% in the second quarter of 2022.

4mo ago

China's AI enthusiasm seems real. But for a population that lived through the mass layoffs of the 1990s, optimism and fear can look identical from the outside.

4mo ago

It thus went from the bottom to the top income classification within less than half-a-century. Moreover, it did so while bringing along more than 1 billion people (the average population of China during this forty-five years' journey).

8mo ago

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