Commerce Secretary Gina Raimondo: The 60 Minutes Interview

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Secretary of Commerce Gina Raimondo is focused on U.S. advanced microchip
production — and keeping the chips out of China and Russia.

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25 COMMENTS

  3. never seen such bullying of china by an administration as we are seeing now. China barely talks about the US yet the US keeps puting sanctions and restrictions on china because they know china will dominate.

  9. The main reason U$A will never able to compete in Chip manufacturing.

    All the country that do well in chip manufacturing , has Confucianism culture.

    For chip manufacturing, a high level of discipline is the key, and most Americans today don't possess it.

    They call it “forced labour"

    Taiwanese media reported on August 2 that TSMC claimed the production holdup at its Arizona facility was caused by a shortage of trained American labour and that they had sent staff from Taiwan to assist with the factory's development. Labour union officials in Arizona, on the other hand, criticised TSMC for exploiting this as a justification to bring in "low-wage foreign labour."

  10. This is bully , it is NOT a competition when only one side(U$A) can change rules.

    Just like your classmate(U$A) use his family power coercing the stationary shop(ASML,Japan,..) NOT to sell stationary to you(China).

  13. I don't think US really need most manufacturing industries. In the past decades, manufacturing is slowly moving out from US to other countries. It makes sense because if you control dollar and if you have strong finance sector, you will have much faster growth than other countries because you are making profit on top of all business with requires dollar and financing to run. It's like a dollar tax. But if there's not enough new tech nor new product continue to support this kind of growth, you will have problems. In this case, ordinary people will suffer, and you start to try to comfort them by trying to bring manufacturing back to offer job opportunities. and on the other hand, this kind of ideology is also helpful for polititians to get the votes they needed.

  15. The US has to protects its people and industries just as the Chinese do. The World is a zero sum game and I'm glad that Americans are finally waking up.

  19. Raimondo is probably right, US chips are more advanced than the Chinese chips, but if one went astray in Sahara Desert where no cellular tower installed to relay one's location to rescuer, the Huawei cellphone could dial to the Beidou Satellite which will relay one's location to rescuer. US Taiwan made cannot talk to any satellite.

  22. It's time to change the rules of the game!

    To reindustrialize the west, we have to stop the 3rd and 2nd world to play price wars in our markets by putting tariffs on their goods to level the playing field. Not only. We should also guarantee living wage(regarding the average cost of rent, food, schooling and healthcare and a $50 to $100 plus as a sort of allowance which are the basics of our needs) as the minimum wage that will increase automatically as inflation increases to nullify the impact on our citizens.

    Our system has been ill tought and effectively taken advantage of. Intead of battling with the 3rd world to the bottom through price wars, we should have rather striven to bring them at our level and fought/competed with products quality and consumer satisfaction!! We were wrong and we have to admit to be able to resolve it while we can before we turn ourselves into the 3rd world!

  23. It's time to change the rules of the game!

    To reindustrialize the west, we have to stop the 3rd and 2nd world to play price wars in our markets by putting tariffs on their goods to level the playing field. Not only. We should also guarantee living wage(regarding the average cost of rent, food, schooling and

  25. These politicians are so short-sighted. They think denying a political/economic rival, in a short term, from having access to latest computing chips/technologies is a major victory. They are basically forcing a customer to become a direct competitor. This is going to hurt American companies like Intel, AMD, nVidia, Microsoft, etc, in a long run. Chinese market represents anywhere from 15% to 40% of their profits, according to their financial reports. Denying China from buying from these companies also means denying these companies from making money in Chinese market. It's unlikely that these companies will ever get back their Chinese market share again now that China are forced to focus on producing domestic alternatives to these companies. Sure, Chinese computer chips are behind for now in terms of performance, but in 5 to 10 ten years they will likely achieve parity, given the history on how quick they caught up with the West in other fields. Even chip fabricators like Taiwan's TSMC and South Korea's Samsung will suffer the same fate. These companies will not only lose a huge customer, but they will gain a fierce direct competitor long term.

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