Intro:
Leland Miller is the Cofounder of China Beige Book, which according to some media reports has been labelled as a firm having more data on China than even the CIA. He is also a Commissioner on the U.S.-China Economic & Security Review Commission. He has advised Fortune 50 CEOs and top government officials including the Congress on China.
In this conversation we talk about:
—> The espionage in the tech industry from universities to companies
—> Why China has long-term strategy for Taiwan where they expect the West to self-implode
—> How U.S banks including JP Morgan were partially responsible for covering up China’s real economic condition
—> How China fabricated their GDP
—> What happened to the great China opportunity?
—> China’s military readiness
And more. Full episode now available wherever you get your podcasts.
Watch on YouTube:
Timestamps:
00:00 - Introduction
01:26 - China 101: The death of the “China Dream”
09:26 - Surveillance, residency permits, and the reality of internal environment
11:04 - Supply chain leverage: Why critical minerals are national security
13:50 - The pharmaceutical threat: Chinese control of U.S. medication supply chains
16:34 - Strategic decoupling: Reshoring and friendshoring national security nexuses
19:45 - Dependence on Chinese foundational materials
24:21 - The military balance in the Pacific: Why everyone thinks they would lose
27:56 - Command readiness: Xi Jinping’s military purges and wartime memory loss
31:13 - Geostrategy in the neighborhood: Japan, Philippines, and missile distance
35:20 - Made in China 2025: The fourth industrial revolution playbook
37:46 - Reindustrialization hurdles: Shipbuilding, chips, and bipartisan focus
39:50 - Breaking the rare earth processing monopoly
43:54 - An Economic Security Strategy: A 5-point master plan for the US
49:19 - IP theft and clones: The deep-rooted issue of technological espionage
52:01 - The STEM dilemma: Training talent in the U.S. and letting them go back
55:27 - China’s compute disadvantage and U.S incentives
01:00:23 - The Food and Energy problem
01:06:12 - Xi Jinping’s psyche: Paranoia, time horizons, and the Taiwan ticking clock
01:10:56 - Economic sensibilities: Global frustration with the imbalanced trade model
01:16:35 - Why China doesn’t drive global growth
01:19:02 - GDP Fabrication: Trillon-Yuan exaggeration
01:28:41 - Tracking credit and stimulus in a “non-commercial” system
01:33:59 - AI, Quantum, and Biotech integration
01:45:18 - Counterbalancing industrial policy
01:58:19 - Why China uses 12x more robots than prediction
02:08:52 - Why Xi doesn’t care about consumers
02:14:35 - Closing thoughts
