https://m.youtube.com/watch?v=cTJ9T4yrt2M&pp=0gcJCR4Bo7VqN5tD
English Transcript
China has a massively effective industrial policy. I mean, as I just said, I think it's amazing. It's stunning. I mean, anyone that's been in a BYD car, it's a gorgeous car, works really well, it's a beautiful thing. That's a direct result of Chinese, you know, subsidy.
Look at Huawei. You know, incredible. You know, people in the government in the last two administrations ago, thought they were going to hobble Huawei. Come back stronger than ever, making incredible chips, all because it's a champion company in the Chinese government.
The list goes on, biotechnology. I mean, they are really innovating in biotech, in quantum, because the government is pouring money into it like crazy.
Also, another thing that a lesson that we could learn from China: they invest in the talent. China recently rolled out, I forget the exact number, but thousands of what we would call career and technical vocational schools.
Like, the average age of biotech of a pharmaceutical worker in America is like 55. The average age of a plumber, welder, electrician is 50 something. Which now that I'm 54 sounds young, but we, you know, we don't have an effective workforce system in this country. We don't. We incentivize attendance, Pell Grants, GI Bill, incentivize attendance. We send everybody to college. Lots of people don't graduate, or they graduate, and they don't have skills for a job. China is incredibly intentional about a workforce strategy.
We don't even teach molecular biology in most high schools, and yet we want to lead the world in biotech. So, I think there's a lot we can learn from them.
