Recently the US enacted a set of punishing trade restrictions on China with respect to high-end chips. Some have called these restrictions the annihilation of China's semiconductor industry. Maybe so, but China's not going to go down without a fight, and the situation is complicated by numerous factors, including the complications of the technology itself. There's a lot going on and I attempt to cover a large portion of it.
We're a few weeks from the midterms and it seemed like a good time to review the state of things. Though they're changing rapidly. In between composing this episode and recording it people went from expecting the Democrats to keep the Senate expecting them to lose it by a few seats. Beyond the reshuffling the election is exciting (or terrifying, depending on your perspective) for other reasons. We get to see if polls are still horribly broken (probably) and if there's any hope for either party to become more moderate. And of course there's the eternal possiblity that we'll finally get a viable third party (almost certainly not but a man can hope).
Ray Dalio and Peter Zeihan have both written books about the future of America, China, and the world. On some points they agree and on some points they're profound disagreement. I compare and contrast these too books, hoping by doing so to tease out a credible view of the future. It's a view that's pretty pessimistic. But I think once you've looked at both of them, that's what you end up with.