Perspectives with Wenchi Yu

Host Wenchi Yu speaks to Allen Fung, formerly with Hong Kong Aerospace Technology Group, about China’s emerging commercial space sector and the broader “second space age,” tracing how SpaceX’s 2015 Falcon 9 landing helped spur Beijing to open its rocket industry to private firms and create a fast-growing ecosystem around launch and satellites. Allen explains how reusable rockets and cheaper access to orbit are enabling new possibilities, such as space-based data centers powered by constant solar energy and cooled by radiating heat into space, as well as speculative but potentially transformative ideas like manufacturing artificial diamond semiconductors in microgravity to achieve phosphorus-doped “negative type” diamond devices that are difficult to make on Earth. Allen argues that China and hubs like Hong Kong intend not just to follow U.S. pioneers like SpaceX and Blue Origin but to help shape the next phase of global space and technology competition.00:00 The New Space Age: China's Aerospace Sector02:26 China's Response to Artemis 204:51 The Rise of Private Rocket Companies in China09:04 The Role of Hong Kong in Aerospace12:17 The Competitive Landscape of Aerospace Companies16:15 The Future of Space Manufacturing26:03 Semiconductors in Space: A New FrontierPerspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks with Noah Barkin — senior advisor at Rhodium Group and author of the popular “Watching China in Europe” newsletter — about the rapidly shifting landscape of Germany's relationship with China. Germany is losing roughly 10,000 manufacturing jobs per month. As European leaders line up to visit Beijing and global trade tensions intensify, Germany finds itself caught between two worlds — deeply entangled with China economically but increasingly alarmed by the dependencies and security risks arising from this close relationship. From factory floors in Anhui to 5G towers in Hamburg, the choices Germany makes about China will shape not only its future, but Europe's.This episode is a collaboration with the China Strategic Risks Institute.   00:00 Introduction and Guest Background02:01 The State of Germany-China Relations Today03:27 China's Support for Russia and Geopolitical Tensions05:23 Perception of China's Support for Russia in Germany07:05 Economic Shifts in German-China Business Relations09:16 China Shock and Its Impact on German Industry11:35 Auto Industry Investment and Deindustrialization14:11 Cost Efficiency and Localization in China16:44 Supply Chain Ecosystems and China's Industrial Advantage18:43 European Trade Strategies and De-risking Efforts21:33 EU Trade Policy and Tariffs on Chinese Goods23:14 Pharmaceutical Industry and Chinese Competition25:19 Critical Infrastructure and 5G Security Concerns29:17 De-risking Supply Chains and Europe's Dependence on China32:18 EU vs. Germany: Divergent Approaches to China34:57 US Policies and Europe's China Strategy38:08 Conclusion: Europe's Hedging Strategy and Future OutlookPerspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks with Patrick Wilson—who until recently served as Vice President of Government Affairs for MediaTek—about how semiconductors went from an obscure, capital‑intensive niche to the center of global industrial strategy. Drawing on two decades in Congress, industry, and the first Trump administration, Patrick explains why Washington woke up to its dependence on Taiwan and Asia, how the TSMC Arizona deal and the CHIPS Act were really conceived, and what political‑risk mitigation strategies Taiwanese and other foreign firms should adopt as they navigate Beijing, Taipei, and Washington.00:00 - Introduction: Semiconductor industry’s geopolitical significance02:18 - Industry reluctance and political engagement of chip companies04:32 - How manufacturing and policy interest surged with geopolitical shifts06:35 - The 2003 trade disputes over Chinese chip export support09:16 - The rise of Taiwan’s TSMC and decline of US fab dominance11:05 - The generational shift in industry leadership and manufacturing shifts12:45 - Globalization, supply chain vulnerabilities, and strategic concerns13:04 - Growing US awareness of supply chain fragility pre-COVID15:09 - The impact of US Tax and R&D policies in semiconductor investment decisions17:12 - US government funding, China’s rising investment, and research funding gaps18:37 - Developing the TSMC/Taiwan-US partnership and the Chips Act20:15 - Building semiconductor fabs in the US: Costs, timelines, and geopolitical considerations24:29 - Taiwan’s cautious response to manufacturing investments in the US26:45 - How COVID and industry lobbying shifted US policy and industry strategy29:55 - Auto industry’s realization of dependence on chips and supply chain transparency35:47 - Building industry champions and the importance of reputation37:22 - Strategies for foreign companies to gain influence in Washington and Taipei39:06 - The delicate balance of Taiwanese diversification away from China42:16 - US-Taiwan semiconductor cooperation and the importance of joint R&D44:18 - The significance of Taiwan’s role, trust, and future collaboration45:47 - Building trust and advocacy for Taiwanese firms in Washington46:46 - Insights from Condoleezza Rice on managing political risk in corporate strategyPerspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks with UK‑based Fraser Howie in the wake of Prime Minister Keir Starmer’s ice‑breaking trip to China. Fraser—a veteran China markets analyst and co‑author of several books on the Chinese financial system—reflects on three decades of watching China’s rise from inside Beijing, Hong Kong, and Singapore. He traces how early hopes that finance and WTO integration would liberalize China gave way to a more sober reality: a system where politics dominates markets, foreign firms struggle to earn real returns, and “investability” is constrained by capital controls, opacity, and state priorities. Against the backdrop of Trump 2.0, a more distrustful West, and a UK desperate for growth yet wary of dependency, Fraser dissects London’s renewed outreach to Beijing—from audit rules and listings to wind turbines and students—and cautions that neither China nor the United States offers easy answers for middle powers trying to balance security, values, and economic needs.This episode is a collaboration with the China Strategic Risks Institute. 00:00 Introduction to Fraser Howie and his background in China finance01:46 Historical perspective on China's financial markets since 199204:01 The complexities of Chinese investability and capital flows05:51 The role of politics and stability in China's financial openness07:37 Foreign investment and joint ventures in China over 25 years13:54 UK's engagement with China and the impact of political decisions15:48 China's technological advancements and supply chain dominance17:57 National security risks associated with Chinese technology in critical infrastructure19:42 The challenges of Chinese investment in Britain and other middle powers21:51 Comparing China and India as investment opportunities23:28 The role of London's financial sector in UK-China relations25:36 UK's stock market and regulatory challenges with Chinese listings27:43 The influence of political figures like Peter Mandelson in China-UK relations29:23 The future of global engagement with China and diversification strategies31:34 The importance of a balanced and informed China policy33:29 The impact of China's internal reforms and global integration35:06 The role of the Chinese diaspora in shaping UK-China relations37:07 Lessons learned from past engagement and future policy directions39:21 The importance of principled conditional engagement with China41:08 The need for diversified supply chains and national security considerations43:17 The role of UK and Western financial institutions in China45:20 Conclusion: Navigating the complexities of China in a changing worldPerspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks with Wade Senti, President of Florida-based Advanced Magnet Lab (AML), about why magnets and rare earths have become a central battleground in the new era of manufacturing and national security. Wade traces AML’s journey from a small robotics‑adjacent lab to a leading U.S. magnet producer, then explains how permanent magnets underpin everything from industrial motors and EVs to drones, humanoid robots, and defense tech. He breaks down the rare earth supply chain, China’s long‑dominant role and pricing power, and why geopolitics and trade tensions have forced companies and governments to rethink China‑dependent inputs. They also explore shifting demand, fragmented global supply, the scramble to build alternative and domestic capacity, including space exploration, and the technological innovations needed to use fewer rare earths while meeting surging magnet demand worldwide.Wade Senti's latest op-ed in mining.com: Permanent magnets are the spear in the critical minerals supply chain2026 Critical Minerals Ministerial00:00 The Global Rare Earth Supply Chain01:37 Understanding Magnets and Their Applications06:27 Shifts in the Magnet Supply Chain11:49 The Growing Demand for Magnets15:32 Challenges in Rare Earth Supply20:22 Government Support and Industry Response24:35 The Future of Magnet Production30:01 Navigating Uncertainty in the IndustryPerspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks with Wesley Chu, a research fellow of the Ash Center at Harvard Kennedy School and former General Counsel of Foxconn—one of the world’s largest manufacturers—about how Trump 2.0’s trade deal is reshaping the future of Taiwanese manufacturing. As the administration accelerates its push to “make it in America,” Taiwan’s firms find themselves at the center of a historic supply‑chain reset. Drawing on his experience, Wesley explains why the new U.S.–Taiwan investment deal is “not perfect, but workable,” how rising cross‑strait risk and U.S. national security demands are forcing Taiwanese companies to move beyond low‑margin OEM work, and what it really takes to survive in high‑cost states like Arizona and Texas. From AI servers and drones to “one world, two systems” production lines and a desperately needed Taiwan tech firewall, he offers a blunt insider view of how Taiwan can shift from “made in Taiwan” to “made with Taiwan”—and why it must become a true silicon hub, not simply relying on a silicon shield.00:00 Taiwan's Strategic Investment in the U.S.02:43 Challenges and Opportunities for Taiwanese Companies05:46 Shifting from OEM to Value-Driven Partnerships08:32 Taiwan's Role in the Global Supply Chain11:24 Diversification and Regional Manufacturing14:29 The Concept of 'Made with Taiwan'17:31 Defense Tech and New Opportunities20:06 Managing Operations in China23:07 Building a Technology Firewall25:58 Taiwan's Future in AI and BeyondPerspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks with UK-based economist and author Stewart Paterson about how Beijing has used the renminbi (RMB), trade surpluses, and industrial policy to fuel its rise—and why he believes Western engagement with China was flawed from the start. Drawing on decades of experience analyzing China from Hong Kong, Singapore, and London, Paterson explains how deliberate RMB undervaluation, subsidies, and capital controls built China’s export machine while suppressing domestic consumption and reshaping global supply chains.​They dig into the politics behind RMB “internationalization,” the limits of China’s ambitions to challenge the dollar, and how tools such as sanctions, Belt and Road lending, and central bank digital currencies are changing the geopolitical map. Wenchi also presses Paterson on whether the United States is now copying elements of China’s playbook—from industrial policy to re-industrialization—and what it means for countries caught between a dollar system run by a democracy and an RMB regime designed to maximize party-state power.China, Trade, and Power: Why the West's Economic Engagement Has Failed, by Stewart PatersonThis episode is a collaboration with China Strategic Risks Institute.Perspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks with Bart Linssen, an onshore wind expert who has spent over two decades in Taiwan, about how the island's energy system is struggling to move from cheap coal and nuclear to renewables while keeping prices and supply stable. As Taiwan and the US sign a landmark trade and investment deal centered on semiconductors, some of Taiwan’s most sensitive yet least understood strategic questions remain: how the island can keep the lights on, stay competitive in the global supply chain, and still reach net zero emissions. Bart explains Taiwan’s current mix—dominated by coal and LNG with nuclear recently shut down and renewables stuck at about 10 percent—its complex market design around Tai Power (Taiwan Power Company, 台電), feed‑in tariffs, and corporate Power Purchase Agreements driven by supply‑chain demands like RE100 and Europe’s carbon border tax, and the intensely political battles that routinely derail onshore wind and solar projects at the local level. He also discusses the growing reliance on imported LNG, debates over reviving nuclear (including small modular reactors), and why clearer zoning, more consistent policy, and stronger political will are essential if Taiwan is to reach its 2050 net‑zero goal and remain competitive.Perspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks with Dr. Ruby Wang, a London-based surgeon turned health-policy and strategy expert, about how China has rapidly evolved from a “copycat” drug producer into a critical source of cutting-edge biotech innovation. Drawing on her experience leading the UK government’s health team at the British Embassy in Beijing during the pandemic and now advising global life sciences clients, Ruby explains how decades of long-term state planning, investment in R&D parks and regulatory reform, a huge patient pool, and a culture of fast experimentation have created a maturing ecosystem that now delivers world‑class oncology, cell therapy, GLP‑1, and AI-enabled drug discovery assets. She describes how roughly 40% of recent global out‑licensing deals now involve China-origin drugs, with Western pharma relying on Chinese assets for growth even as US and European policymakers debate tariffs, data security, and “China risk.”​The discussion explores the tension inside China between keeping medicines affordable for its population and sustaining a profitable, innovative biotech sector, as well as how emerging mixed public–private health models and experiments such as Hainan’s medical tourism zone might ease that pressure. Ruby and Wenchi also unpack Western misconceptions that Chinese biotech is still low quality, arguing that this outdated narrative shapes investor sentiment and policy in ways that could ultimately deprive patients worldwide—especially in developing countries—of effective, lower-cost treatments. They conclude that while security and data-privacy concerns are real, science and healthcare are inherently global, and the key challenge for the West is to manage risk without cutting itself off from Chinese innovation that could help meet urgent global disease burdens.Perspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

As we close out 2025—the first year of Perspectives with Wenchi Yu, now at 28 episodes—here are a few quick reflections on US–China–Taiwan dynamics in 2025 and some predictions for 2026.For more discussions and work from Wenchi YuDC Insiders by TaiwanPlusGlobal Women AsiaPerspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks with Jane Perlez, host of the podcast Face‑Off: The U.S. vs China and a former New York Times foreign correspondent and Beijing bureau chief. The conversation traces Jane’s journey from an aspiring reporter in Australia to a Pulitzer Prize–winning correspondent who covered conflicts and political transitions from East Africa and the Balkans to Pakistan, Indonesia, and ultimately China. She reflects on how 9/11 and the wars in Iraq and Afghanistan pulled Washington’s attention away from Asia just as China was expanding its influence in Southeast Asia, and how U.S.–China relations slid from the hopeful mood of a 2012 State Department banquet for then–Vice President Xi Jinping into today’s open strategic rivalry. Speaking from her current base in the United States, she discusses the challenges of understanding China without regular on‑the‑ground reporting or a steady flow of Chinese visitors, her decision to turn to podcasting—first with “On the Trail of Xi Jinping” and now with Face‑Off: The U.S. vs China—and why she believes closing the “barrier of ignorance” between the two societies is essential for managing competition and avoiding conflict, including over Taiwan.Perspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks to the Hong Kong-born aerospace entrepreneur, Michael Blum, about the evolution of the global space industry through the lens of US and Chinese competition. As the co-founder of Firefly Space Systems, Blum recounts his inspiration for space and aerospace, his early days in Silicon Valley, and direct involvement with Elon Musk and SpaceX, highlighting the transformative impact of private enterprise in reducing costs and expanding access to space. He contrasts the innovation-driven, commercially vibrant US sector with China’s more opaque, state-led program, discussing how geopolitical rivalry—for prestige, technological superiority, and security—drives distinctly different strategies and norms. Key discussions include the rise and challenges of commercial space ventures (like SpaceX, Blue Origin, and Firefly Aerospace), the Artemis Accords and international alignment in space governance, and China’s ambitious goals for a permanent Moon presence and technological self-sufficiency. The conversation addresses issues such as space debris, differing legal frameworks, and how recent political changes in Hong Kong have impacted Blum’s trust in cooperating with China—particularly significant given his own upbringing in Hong Kong. The dialogue also emphasizes the ongoing ideological contest between centralized planning and open competition, the crucial role of public-private partnership, and the inspiration emerging from new commercial opportunities and international collaboration—even as competition in space intensifies between the US and China.*This episode is in collaboration with the China Strategic Risks Institute, www.csri.global Perspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks with Olivia Plotnick, a Shanghai-based social media and marketing entrepreneur, who recently completed a marketing research project spanning 30 cities in 60 days in China. The conversation attempted to answer the question: How’s China’s economy faring? Has the trade war’s impact been felt on the ground? How are consumers spending their money? Olivia’s findings of health & fitness, tourism, beauty, and youth trends challenge conventional wisdom and offer surprising insights into the state of China and its consumers across age groups. She discusses the importance of understanding consumer behavior beyond just data and statistics, and highlights the rise of tier two and below cities, the competition between Starbucks and Luckin Coffee, the explosion of milk tea brands, and the impact of EV adoption. She also delves into changing consumer values and the evolving narrative around China's economy.Olivia Plotnick's Substack: https://substack.com/@whowhatwai 0:00 Understanding China's Economic Landscape04:57 Exploring Tier Two and Below Cities11:35 Diverse Perspectives on China's Economy17:33 The Coffee Wars: Starbucks vs. Luckin23:03 The Rise of Milk Tea and Local Cafes29:37 Trends in Health, Fitness, and Consumer Behavior35:20 Debunking Western Narratives on China's EconomyPerspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks with Wang Xiangwei, former editor-in-chief of the South China Morning Post (SCMP), about covering China over the last three decades, as well as Hong Kong after 2019. Wang led the expansion and digital transformation of SCMP's China coverage, striving to provide insider, balanced, and insightful reporting amid complex political pressures from both Beijing and Hong Kong, all while maintaining editorial independence. He witnessed and navigated Hong Kong’s changing political landscape, including the impacts of the National Security Law, and advocates for Hong Kong's unique role as a distinctive, open, and window into China. Wang Xiangwei thinks Hong Kong’s role should be as a unique capitalist enclave within China that acts as a vital bridge and “superconnector” between China and the rest of the world. Despite political pressures and challenges under “one country, two systems,” Hong Kong should preserve its openness, rule of law, and global connectivity to remain indispensable for China’s modernization and for international capital seeking access to China and Asia. Wang emphasizes that Hong Kong must proactively shape Beijing’s perception of its importance rather than passively yield its future, thus maintaining its distinctive identity and future prosperity.​ After leaving his editorial post, Wang now teaches journalism, continuing to contribute a perspective on China’s global rise and media challenges, and remains an avid writer and observer of China.Wang Xiangwei's Substack: https://substack.com/@wangxiangwei Perspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks to Rui Ma of Tech Buzz China about the divergence in AI development and cultural attitudes between China and the US. Driven by its strong manufacturing capabilities, China deeply integrates robotics with AI, focusing on practical, cash-flow-positive applications like service robots for food delivery or pool cleaning, rather than advanced "sci-fi" level projects. The Chinese government maintains a techno-optimist and encouraging stance toward AI, which, combined with a societal openness to rapid change, results in less fear or caution around the technology compared to the US. Furthermore, foreign investment has largely been replaced by capital from municipal governments and state-owned enterprises. In contrast, the US approach often emphasizes a deregulatory, pro-innovation strategy to maintain global dominance and is more concerned with achieving super-intelligence and AGI.00:00 Introduction to AI Competition01:16 Insights from the World AI Conference in Shanghai05:16 Robotics and AI Integration in China10:13 Comparative Approaches to AI: US vs China12:56 The Bubble in Humanoid Robotics15:35 Cultural Attitudes Towards AI18:17 Government Support for AI Development20:01 Investment Landscape in China24:18 AI Leadership and Global Cooperation29:37 Future Innovations in ChinaPerspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks with the UK-based macroeconomist, Kelvin Lam, a long-time China observer, about the current state of China’s economy. The conversation highlights several issues, including the challenges in the property sector, the country’s transition towards a high-tech economy, and the need to boost domestic consumption. The discussion also touches on the issue of inequality, the phenomenon of involution (over-competition within industries), and the future outlook for China's economic policies. Kelvin provides valuable insights as China prepares to unveil its 15th Five-Year Plan later in October.00:00 Introduction to China's Economic Landscape01:01 Kelvin Lam's Background and Expertise01:56 Current State of China's Economy07:28 The Role of the Property Market10:26 Domestic Consumption and Economic Transition11:34 High-Tech Manufacturing and Economic Growth15:01 Unemployment and Labor Market Dynamics16:14 Government Policies to Boost Consumption19:11 Income Growth and Social Stability22:00 China's Technological Advancements and Global Positioning25:40 Overcapacity and Market Competition30:52 Government Strategies for Industrial Consolidation35:17 The Upcoming 15th Five-Year Plan37:58 Conclusion and Future OutlookPerspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks with Carl Wegner, President of the American Chamber of Commerce (AmCham) in Taiwan, about the implications of Trump 2.0's policies for Taiwan. The conversation highlights that beyond tariffs, American businesses also worry about energy stability, lack of a US-Taiwan double-taxation treaty, Taiwan's aging population, and geopolitical dynamics. Wegner explains that despite the uncertainty, American investment in Taiwan continues to be strong, with a survey showing over 70% of members plan to maintain or increase their investments. The discussion also touches on promising non-semiconductor industries in Taiwan, such as defense, clean energy, and biotech, as well as the increasing awareness of Taiwan in Washington D.C.  Perspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks with Bryce Whitwam, a seasoned marketing professional with extensive experience in Asia, including 17 years in China, where he led major advertising agencies and founded his own. Bryce highlights the "seismic shift" in marketing and consumer behavior brought about by the rise of multifunctional digital platforms such as WeChat, Taobao, Douyin, and Xiaohongshu (also known as Red Note). The conversation also covers the rise of Chinese domestic brands, a phenomenon known as "Guo Chao 国潮," like Luckin Coffee, which have challenged foreign brands such as Starbucks. Whitwam argues that while consumers may sometimes boycott foreign brands like H&M for nationalistic reasons, they generally base their purchasing decisions on product quality and trust. Despite tariffs and the closure of the "de minimis" loophole, Whitwam predicts an increase in direct-to-consumer sales from Chinese manufacturers to the U.S.. He views these tariffs as a "failed policy" that will lead to higher prices for consumers. Bryce Whitwam contributed a chapter, MARKETING AND SOCIAL MEDIA: Staying Ahead of the Most Dynamic Market on Earth, for Ker Gibbs' Selling to China: Stories of Success, Failure, and Constant Change.Bryce Whitwam is also a co-host of ShanghaiZhan, a podcast about all things China marketing, advertising, tech and platforms.  00:00 The Digital Revolution in China02:46 Bryce's Journey in Marketing and Advertising05:40 E-commerce and Social Commerce Transformation08:38 The Shift in Advertising Strategies11:40 The Rise of Short-Form Video and Influencer Marketing14:32 Understanding Chinese Social Media Platforms17:42 The Impact of Domestic Brands and Guo Chao20:08 Navigating Geopolitical Tensions and Consumer Preferences23:12 The Future of US-China Business Relations25:43 Conclusion: The Competitive Landscape AheadPerspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks with Professor Philip Hsu 徐斯勤 of National Taiwan University about the intricate political landscape of Taiwan, focusing on the 7/26 recall elections, public opinion regarding identity and relations with China, and the evolving dynamics of Taiwan's relationship with the U.S. Taiwan is the flashpoint where technology, business, and geopolitics intersect. A deeper understanding of this island nation and its dynamic political forces—especially through the lens of Taiwan-China and Taiwan-US relations—is vital for navigating both opportunities and risks with more informed decision-making.For Wenchi's take on the 7/26 recall elections, please read my Substack. 00:00 Taiwan's Political Landscape and Recall Elections05:42 Cross-Strait Relations and U.S. Concerns08:12 Public Opinion on Taiwan's Identity and China23:15 Taiwan's Evolving Relationship with the U.S.30:31 Domestic Issues and Future Implications for Taiwan in the WorldPerspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks with Ethan Tu (杜奕瑾), founder of Taiwan AI Labs, Asia's first open AI research institution. Taiwan AI Labs is dedicated to advancing AI through open algorithms, open-source code, and federated learning, an approach that enables collaborative machine learning without centralizing data, thus preserving privacy and preventing monopolies.Ethan's career includes founding Taiwan's first Chinese-language search engine, Yam, and the first social media platform, PTT (批踢踢). He later played a pivotal role in helping launch Microsoft's Bing and its first virtual assistant, Cortana. Recognizing AI's immense potential—including its capacity for harm—Ethan returned to Taiwan to champion responsible AI development. His work now focuses particularly on federated learning and combating disinformation. Today, Taiwan AI Labs' innovations are widely adopted in healthcare, privacy protection, and the promotion of democracy.00:00Introduction to AI and Its Global Implications00:56Ethan Tu's Journey and Taiwan AI Labs04:34Concerns Over Big Tech and Data Privacy06:30Innovations in Combating Disinformation10:41Federated Learning: A New Approach to AI14:30Taiwan's National Strategy for AI15:35Information Manipulation and Its Impact21:33The Infodemic System: Tracking Misinformation24:59Building Trust in Information Sources26:53Censorship vs. Content Moderation29:49The Role of TikTok in Political Discourse33:52AI Ethics and Education in Taiwan35:37Conclusion: Responsible AI for the FuturePerspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks with Jett Chen, founder of Semi Vision, a Taiwan-based semiconductor industry research institution providing comprehensive insights into the semiconductor ecosystem. With a family business specializing in semiconductor packaging, Jett observes how AI advancements are transforming the startup ecosystem in Taiwan. Jett discusses the complexities of semiconductor manufacturing, the importance of packaging, and the emerging opportunities for startups in AI. Jett also addresses the energy challenges Taiwan faces as it develops its AI capabilities, the implications of NVIDIA's investment in Taiwan, and the ongoing talent shortages in the engineering sector. The conversation also examines geopolitical factors affecting the semiconductor supply chain, highlighting the competitive dynamics between Taiwan and China, and the implications of the US’s export control policies.Reference: Jensen Huang's Keynote at COMPUTEX 202500:00Taiwan's Semiconductors and AI Opportunities05:54Understanding the Semiconductor Ecosystem09:37The Role of Packaging in Semiconductor Manufacturing11:56AI Servers and Their Impact on the Industry15:35Emerging Startups in AI and Semiconductor17:35Energy Challenges in Taiwan's AI Development20:02NVIDIA's Investment and Its Implications for Taiwan21:48Talent Shortages and Immigration Policies23:52Geopolitical Impacts on Semiconductor Supply Chains27:24The Future of Semiconductor ManufacturingPerspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks with Bill Russo, an auto industry expert with a lifelong career in Detroit and China (Chrysler), about China's rapid rise to become the world leader in automobile manufacturing, sales, and exports, as well as the global leader in new energy vehicles, batteries, and the "internet of mobility." Bill Russo contributed a chapter, CHINA’S AUTO INDUSTRY: The Race to a Sustainable Future, for Ker Gibbs' Selling to China: Stories of Success, Failure, and Constant Change.00:00China's Automotive Revolution02:29Bill Russo's Journey in the Auto Industry04:31The Growth of China's Auto Market11:22The Shift from Foreign to Chinese Domestic Brands15:12Market-Driven Growth in China's Auto Industry22:30The Rise of Electric Vehicles in China30:47The Internet of Mobility and Technological Innovation35:15The Digital Transformation of Automobiles39:07Impact of Trade Wars on Globalization45:59Navigating Tariffs and Supply Chains50:58The Future of Transportation and Mobility01:01:09China's Role in the Global Automotive LandscapePerspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks with Zak Dychtwald, author of Young China: How the Restless Generation Will Change Their Country and the World. Dychtwald, a leading expert on China's market and workforce, discusses the dangers of underestimating Chinese competition and how negative perceptions and a poor understanding of Chinese businesses and their innovations can lead to misguided global business strategies. Dychtwald emphasizes that China's market is not only significant for its economy but also serves as a proving ground for products that can succeed globally. The conversation highlights the need for a nuanced perception of China, moving beyond government narratives to appreciate the vibrancy and competitiveness of its market.  Reference: The Risks of Underestimating Competition from China, by Zak Dychtwald, Harvard Business Review00:00Introduction01:22Zach Dychtwald's Journey and Insights on China07:21The Rise of Young China and Consumer Trends09:01Resurfacing Interest in Chinese People and Culture10:40The Risks of Underestimating Chinese Competition12:11Innovation Parity: China vs. the West14:15The Global Reach of Chinese Products18:30Changes at the Canton Fair: A New Era21:41China as a Proving Ground for Global Products23:45Navigating Globalization: Chinese Brands on the World Stage25:04Pharmaceuticals and MedTech: China's Global Health Innovations26:58China's Leadership in New Energy and Technology29:26Understanding China's Domestic Focus and Global Ambitions32:02The Belt and Road Initiative: Stability and Economic Growth35:00Innovation Ecosystem: China's Competitive Edge40:12Assessing US-China Competition: Risks and Opportunities45:10Learning from China: Strategies for Global CompetitivenessPerspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks with Yanzhong Huang of the Council on Foreign Relations about the impact of the second Trump term on American soft power and the possibility of China filling the resulting void. The conversation delves into the late Harvard Kennedy School Professor Joseph Nye's concept of soft power, the importance of education and foreign assistance, the U.S. pivot to hard power, and China's growing global leadership.00:00The Legacy of Professor Joseph Nye and Soft Power02:18Guest Yanzhong Huang and the Definition of Soft Power04:57The State of American Education and Its Global Appeal11:18Foreign Assistance and Its Role in Soft Power16:17The Shift Towards Hard Power in U.S. PolicyPerspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks with Payhuan Shiao, founder & CEO of Immortal Studios. A Hollywood native, Payhuan has been at the center of the Hollywood-China filmmaking industry for the last three decades. Amid escalating trade tensions, including Trump's 100% tariffs on foreign films and China's import limits on American movies, is the decades-long, fluctuating Hollywood-China collaboration nearing its end? Beyond trade, factors such as China's growing suspicion of foreign influence, stricter censorship, and its booming domestic film industry—now dominating the local box office and diminishing Hollywood's market share and co-productions—point to a significant shift. The success of Ne Zha 2 further highlights China's growing status as a cultural exporter and producer of high-quality films.00:00Introduction to U.S.-China Film Relations02:23Guest: Peihuan Shiao's Background07:16The First U.S.-China Film Co-Production10:22Cautious Collaboration: Hollywood and China16:23The Evolution of the Chinese Film Industry21:54Current Challenges in the Chinese Entertainment Industry24:06The Rise of Chinese Investment in Hollywood27:09Changing Dynamics in the Film Industry30:11Emergence of Martial Fantasy in Global Pop Culture33:35Political Influences on Film Consumption36:33The Global Competition in Film39:30Future Trends in US-China Film Relations42:59Cultural Narratives and the Hero's JourneyPerspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks with Andy Rothman, a veteran Chinese economy observer, about his recent trip to China amidst tariff escalations. Andy shares firsthand accounts from entrepreneurs in Xiamen, American businessmen in Shanghai, and policymakers in Beijing. His key observation: not anger, but bewilderment. 00:00Trump 2.0 Tariffs and China’s Reactions So Far01:11Guest Introduction: Andy Rothman04:08Reactions from Hong Kong08:52Entrepreneurs in Xiaman: Bewilderment Over Tariffs16:36Shanghai and Beijing: Uncertainty in Business21:27What Would It Take for China to Come to The Negotiation Table?26:05China's Preparedness and Confidence34:54Clash of the Titans: Unpredictability of US-China Trade NegotiationsPerspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks with Yao Zhao, founder of 50 Hertz Tingly Foods and a former World Bank clean energy specialist, about the impact of tariffs on his Sichuan pepper-infused food and beverage import business. Yao discusses launching his company during the COVID-19 pandemic, preparing for potential Trump 2.0 tariffs, managing cash flow amid rising costs, and the significance of supplier relationships. The conversation also covers consumer engagement, cost mitigation strategies, and Yao's exploration of alternative markets in response to the evolving trade dynamics between the US and China. Yao is on a mission to introduce Sichuan pepper from his hometown in China to the world. He believes that this trade war will push China to move up the value chain, to expedite its transition from an export-oriented to a domestic consumption-oriented economy, and to reconsider its relationship with Europe and other countries. 00:00The Trade War Landscape02:52 Sichuan Pepper: A Unique Culinary Ingredient05:57Navigating Tariffs and Import Challenges09:06Business Strategies Amidst Uncertainty11:46Consumer Engagement and Direct Sales14:46Exploring Alternative Markets18:05The Bigger Picture: Economic Implications20:56Future of Trade Relations23:53ClosingPerspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks with Ken Wilcox, author of The China Business Conundrum: Ensuring Win Win Doesn’t Mean Lose Twice, CEO of Silicon Valley Bank (SVB, 2001-2011) and Vice Chairman of SVB’s joint venture in Shanghai (SSVB) until 2019. He is a former member of the Board of Directors of the Federal Reserve Bank of San Francisco.Ken characterizes the complexities of the joint venture project as "one bed two dreams," a key reason why Silicon Valley Bank’s project with Shanghai Pudong Development Bank fell short of expectations.Reflecting on these lessons, Ken advises businesses entering the Chinese market to be thoroughly prepared, understand their leverage, study Chinese negotiation styles from works like Sun Tzu's Art of War, and cultivate strong government relations, recognizing the ultimate control of the government and the Chinese Communist Party over key decisions.This is a timely discussion as the US and China continue public posturing while expressing a desire for one of the most consequential economic and trade negotiations.00:00Introduction to U.S.-China Relations01:33Ken Wilcox's Journey in Banking04:28The Invitation to China07:40Negotiation Dynamics in Joint Ventures10:26Cultural Misunderstandings in Business17:28Lessons from the Joint Venture Experience31:23Knowledge Transfer and Future Relations35:32The Complexity of Copying: A Cultural Perspective39:00Navigating Chinese Negotiation Styles44:30Understanding the Role of the CCP in Business47:35American Naivety in International Business52:54Cultural Differences and Communication Challenges01:06:41Strategies for Successful Business in ChinaPerspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks with Ker Gibbs, author of Selling to China and former Chairman and President of the American Chamber of Commerce in Shanghai about his decades of experience navigating the evolving U.S.-China economic relationship—including the pivotal shifts that began during the first Trump administration.He highlighted the shift that occurred during Trump’s first term:Many American companies initially greeted Trump’s unique approach with a mix of skepticism and curiosity, wondering if his negotiating style could actually work.The Trump administration was prepared to let U.S. businesses endure short-term pain to address long-standing issues. Not just the tariffs, but the ban on WeChat and TikTok were examples of putting pain on our own companies.Ker's prediction for Trump 2.0:It’s not entirely clear what the goal is this time, but Trump seems to be using tariffs as a lever to push for U.S. economic “self-sufficiency”—a concept mirrored in China’s own economic policies.Going forward, Trump’s method seems to be "shoot first and negotiate later."China’s economy is transitioning toward a low-growth, low-profit model.Multinational companies operating in China may need to adopt an entirely different business model, one that disconnects them from other markets.Immediate term, expect more pain; medium term, US-China trade disputes are likely to be resolved; long term: deep ideological differences and mutual distrust will persist and are unlikely to improve.Perspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speakers with Marc Hijink, author of The ASML Way and a Dutch business journalist. Marc compares ASML to the "oven of the bakery" in its pivotal role within the semiconductor industry. The company's unique position in manufacturing EUV machines creates an exceptionally high barrier to entry despite recent reports of EUV technology breakthroughs in China. Marc believes ASML's success is deeply rooted in its corporate culture, which serves as a secret sauce that is difficult to replicate elsewhere. He also estimates it will take China 10-15 years to catch up with ASML's technological advancements. Meanwhile, the broader Dutch-China relationship remains complex, with some doubling down on business cooperation while others approach collaboration with China more cautiously. With Trump 2.0's semiconductor policies, Marc cautions that Moore's Law could slow down, potentially hindering semiconductor advancements.[00:00:04] Introduction[00:01:25] Guest: Mark Hijink[00:02:51] ASML’s Dominance in Lithography Machines[00:03:32] The Semiconductor Supply Chain Explained[00:04:50] ASML’s Market Share & Competition[00:06:07] China's Importance as a Market for ASML[00:10:03] Impact of US Export Controls on ASML[00:11:38] China's Strategy in Semiconductor Manufacturing[00:14:59] US & Dutch Semiconductor Policies[00:18:06] ASML’s Neutral Stance in Geopolitics[00:21:00] Europe’s Role in Semiconductor Geopolitics[00:23:31] China's Counteractions & Domestic Investments[00:26:49] Why ASML’s Technology is Hard to Replicate[00:30:42] China’s Reported EUV Breakthroughs[00:34:00] Dutch-China Relations Amid Export Controls[00:40:12] Trump 2.0 and the Future of the Semiconductor Industry[00:41:36] ClosingPerspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks to Konrad Young 楊光磊. Trained as an engineer in Taiwan and the US, Konrad’s life journey mirrors Taiwan’s semiconductor history. As one of the six “R&D knights,” Konrad retired from TSMC in 2018. He was an independent director of SMIC from 2019 to 2021 and an advisor to Intel. He started his career at MIT Lincoln Lab.After President Trump’s White House announcement of TSMC’s $100 billion investment in the U.S. on March 3rd, reactions in Taiwan have been mixed. Many in Taiwan have expressed concerns about potentially losing the island's competitive edge to the U.S. It took Taiwan decades to establish itself as a global leader in high-tech hardware manufacturing. The journey began as a government industrial policy aimed at securing a future for the impoverished island after World War II, relying on highly educated and hardworking engineers. Some were trained by the Industrial Technology Research Institute (ITRI, 工業技術研究院), a government affiliate that eventually incubated TSMC, UMC, and other leading companies, while the others left Taiwan in the 1960s and 70s to pursue advanced STEM education. Thanks to the U.S. immigration policies that attracted STEM talent, waves of top engineering graduates moved to the U.S. and contributed to the growth of Silicon Valley’s semiconductor industry. When these engineers returned to Taiwan, bringing with them valuable experience from leading technology companies, they helped establish Taiwan’s own "Silicon Valley"—Hsinchu Science Park.Today, TSMC’s dominance has become a double-edged sword for both the company and the island nation. However, the optimistic Konrad sees great opportunity to leverage this advantage to connect more deeply with the global market. The United States consumed 25% of the world’s semiconductors in 2019, among them 34% were advanced logic chips, but had zero capacity to manufacture just a few years ago. Onshoring TSMC could help increase its capacity to 28% of the global supply by 2032, according to BCG reports. However, manufacturing critical and defense-related infrastructure chips raises other national security concerns. Konrad asks if this will have implications for TSMC’s future.Konrad also discussed China’s growing semiconductor capabilities and the economic incentives, driven by its massive market, for the country to catch up in mainstream semiconductor manufacturing.The story of Taiwan and semiconductors is one of resilience–making the best out of a dire situation, immigrants seeking better education and economic opportunities, and a culture of pragmatism, hard work, and seizing the moment. 00:00:04 Introduction00:01:53 Guest: Konrad Young 楊光磊00:02:24 Taiwan’s Economic and Industrial Transformation00:04:42 Studying and Working Abroad00:06:50 Taiwan’s Semiconductor Talent Development00:15:00 The Rise of Taiwan’s Semiconductor Industry00:19:24 Globalization and Taiwan’s Role00:39:11 The 1994 Turning Point: IPOs00:44:10 TSMC’s R&D Infrastructure: A Game-Changer00:48:02 The Role of AI in Semiconductor Development00:50:00 China’s Semiconductor Growth & Challenges00:55:00 US Export Controls and Their Impact on China: Choking Point01:00:00 Geopolitics & Taiwan’s Semiconductor Industry01:08:00 TSMC’s $100 Billion US Investment01:12:00 Future of the Semiconductor Industry?Perspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks with Jeremy Chih-Cheng Chang 張智程, a global semiconductor policy expert from the Taipei-headquartered think tank, DSET (Research Institute for Democracy, Society and Emerging Technology) 科技民主與社會研究中心. DSET recently published the report: Walking a Tightrope: Navigating Taiwan-U.S. Semiconductor Security Under Trump 2.0. [00:00:04] Background: Trump's TSMC $100 Billion Investment Announcement[00:01:39] Guest Jeremy Chang[00:05:47] Japan’s Semiconductor Industry Policy[00:10:01] Taiwan’s Semiconductor Industry and Strategy[00:16:01] Taiwan-China Semiconductor Relations: Pioneer in Outbound Investment Screening[00:22:03] U.S.-Taiwan Semiconductor Relations[00:30:26] The Relationship Between TSMC and Government Policy in Ensuring Taiwan's Security: Silicon Shield 護國神山[00:36:00] Negotiating Taiwan's Future: Capitalizing on the Global Hardware Manufacturing Ecosystem[00:40:15] ConclusionPerspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks with TechNode Founder Lu Gang about China's startup ecosystem, the influence of government policies, and the impact of US-China rivalry on Chinese tech companies, including the 'go abroad' phenomenon and why the US remains the most desirable market despite the rising tensions.00:00:04 - Introduction00:01:57 - Lu Gang’s Journey into Tech Journalism00:04:40 - The Early Chinese Startup Ecosystem00:07:48 - The Rise of Venture Capital in China00:12:00 - Government’s Role in Promoting Entrepreneurship00:16:10 - Shift in Government Policies and Crackdowns00:23:22 - US-China Rivalry and Its Impact on Chinese Tech Companies00:26:12 - The ‘Go Abroad’ Phenomenon00:28:48 - Success and Challenges of Chinese Companies Overseas00:32:37 - Future of Chinese Innovation00:39:04 - The TikTok Dilemma00:41:14 - ConclusionPerspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks to Eric Wong of Stillpoint Investments about China’s equity markets, the current state of the Chinese economy, the three Ds of structural challenges (deflation, demographics, and debt), how geopolitics and Trump 2.0’s tariffs might impact China’s export-oriented economy, and what global investors should keep in mind when engaging with China’s capital markets.This episode is not intended to be (and may not be relied on in any manner as) legal, tax, investment, accounting, or other advice or as an offer to sell or a solicitation of an offer to buy any securities of any investment product or any investment advisory service.00:06 Introduction01:44 Guest Introduction: Eric Wang 黃浩偉07:56 Understanding China’s Equity Markets13:49 Foreign Investment in China’s Markets17:15 Structural Challenges: The Three D’s (Demographics, Debt, and Deflation)18:46 China’s Economic Slowdown: Causes & Turning Points, Geopolitics and China’s Exports38:52 Changing Consumer Behavior41:10 China’s Industrial Policy & ‘New Quality Productive Forces’44:16 Rise of Chinese Domestic Brands48:42 Chinese Companies Expanding Overseas (‘出海 chu hai’ Phenomenon)50:42 US-China Trade Tensions & Trump 2.0’s Potential Policies53:06 Hong Kong’s Critical Role in China’s Capital Markets56:18 Should US Investors Engage in China’s Markets?1:00:52 Closing This is the fourth episode of the series about China’s technology companies and entrepreneurs. For previous episodes, please visit:Spotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=5f0e34b9345e4886 Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395 YouTube:https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=hUsa8h9mNGT_xHJIPerspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu speaks to Benjamin Qiu, a partner of a New York-based law firm and co-chair of Asian Affairs at the New York City Bar Association, who has been advising technology clients on cross-border transactions for over two decades. This episode dives into the forces driving China’s tech sector and the challenges facing them today.00:00 Introduction02:45 Guest: Benjamin Qiu 裘伯纯03:30 China’s WTO Membership & Intellectual Property Laws05:45 2000s: China’s Tech Innovation Boom07:37 Government’s Role in Tech Industry Growth and Crackdown14:27 Chinese Entrepreneurs’ Resilience and Challenges24:43 Chinese Entrepreneurs Expand Overseas 出海 28:03 The U.S. as a Destination for Chinese Entrepreneurs33:46 Closing ThoughtsYouTube: https://youtu.be/QqkJEshmwyESpotify: https://open.spotify.com/episode/2rbfDZGf4myX2XlidHmuh7?si=2d031d8287d54332Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395?i=1000692015979Perspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu interviews Kevin Xu of Interconnected Capital on the rise of DeepSeek, its founding philosophy, its impact on US's AI development, the future of chip wars, US-China chip export controls, energy demand of AI, open vs closed source, and the future of AI competition and policy.Perspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Host Wenchi Yu interviews Charles Mok, an Internet entrepreneur, a former Hong Kong legislator, and a scholar at Stanford University’s Cyber Policy Center, about TikTok, DeepSeek, and the US-China technology competition under Trump 2.0.Perspectives with Wenchi YuYouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxHSpotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395