REMAIN TO STRESS THE STOCK LOWER IS THE DEMAND SIDE OF THE FORMULA, AND ULTIMATELY THAT WHAT THAT SUGGESTS FOR PROFITS >> > > ALL RIGHT OUR NEXT VISITOR CALLS CHINA'' S ZERO COVID POLICY AN UNMITIGATED CATASTROPHE STEPHEN COCKROACH IS A YALE COLLEGE SENIOR OTHERS AND ALSO HAS A BRAND-NEW PUBLICATION COMING OUT TOMORROW SO YOU CAN ALL GET IT TOMORROW “” ACCIDENTAL DISPUTE: AMERICA, CHINA”” AND THE CLASH ON FALSE STORIES.”” HE CAN EITHER LET THIS KIND OF PLAY OUT OR REALLY SPLIT DOWN.WHAT DO YOU
BELIEVE HAPPENS? >> > > HE IS NOT GOING TO DROP HIS ABSOLUTELY NO COVID POLICY. HE IS GOING TO TWEAK IT ON THE BRINK. BUT AUTOCRATS CAN'' T AFFORD EVER TO SHED FACE AND FOR HIM TO ADMIT THAT THIS IS AN RIDICULOUS, NOT PRACTICAL, HARSH POLICY IS NOT IN HIS DNA BUT, YOU KNOW, HE'' LL REDUCE THE QUARANTINE CONSTRAINTS A BIT, AS WELL AS THERE WILL BE SOME EASING OFF. BUT WHAT HE'' S GOT TO OBTAIN IS A BREAK FROM THE HIGHLY TRANSMISSIBLE OMICRON. THAT'' S UNLIKELY TO HAPPEN FOR QUITE A LONG TIME. I IMPLY, EVERYBODY UNDERSTANDS HOW TRANSMISSIBLE THESE VARIANTS ARE. I ULTIMATELY OBTAINED HIT BY IT TWO WEEKS BACK MYSELF IT'' S RIDICULOUS TO THINK THAT HE'' S GOING TO LOWER THIS PLAN EACH TIME WHEN THE TRANSMISSIBILITY IS SURGING >> > > DO YOU BELIEVE THAT IT SPECIFIES, THOUGH– BECAUSE WE DO KNOW THAT XI'' S TOP CONCERN IS NATIONAL SAFETY AND SECURITY, AND THAT HE'' S HAPPY TO COMPROMISE SOME DEGREE OF FINANCIAL GROWTH FOR THAT THE SAFETY OF JUST NOT HIS PEOPLE, BUT SAFETY AND SECURITY OF THE PARTY.AND IN THAT
GOAL, STEPHEN, DO YOU THINK HE APPLIES MILITARY LAW? DO WE SEE THIS ESCALATE TO THE POINT OF A TIANANMEN SQUARE, FOR EXAMPLE >> > > NO, WE DON'' T. I THINK EVERY PAPER THAT I TOOK A LOOK AT TODAY, I MOST LIKELY TOOK A LOOK AT 5 OR SIX OF THEM, AND ALSO THEY ALL HAD THE TIANANMEN SQUARE COMPARISON IN THE LEAD PARAGRAPH. TIANANMEN SQUARE WAS TRIGGERED LARGELY BY A YOUTHFUL GENERATION WHOSE POLITICAL CHAMP, THE FORMER LEADER AND RADICAL HU YAO BING HAD DIED. AS WELL AS THE MOVEMENT BECAME A MOTION THAT WAS FOCUSED ON THESE POLITICAL CONCERNS XI JINPING, AS YOU KNOW, HAS NO POLITICAL OPPOSITION HE DEALT WITH THAT IN THE CURRENT CELEBRATION CONGRESS.SO THIS ISN ' T ABOUT POLITICS THIS HAS TO DO WITH UNDERSTANDABLY FRUSTRATED AND ANGRY POPULATION THAT IS SUFFERING WORK LOSS AS WELL AS ECONOMIC CHALLENGES FROM An ABSURD COVID PLAN. >> > > SO HE DOESN ' T ADMIT THAT HE IS WRONG HE TWEAKS AROUND THE SIDES THINGS MAINLY GO AS THEY ARE. AND ALSO THAT'' S IT, STEPHEN I INDICATE, THAT SEEMS TO BE SO LIMITED. IT DOES SEEM LIKE THESE PROTESTERS ARE OF A YOUNGER GENERATION THEY DID NOT WITNESS THE MIRACLE OF FINANCIAL GROWTH THAT HE SHEPARDED IN THE '' 90s or two THEY WERE NOT YOUNG ENOUGH TO BEAR IN MIND I'' M JUST WONDERING IF IT JUST FINISHES HERE. DUE TO THE FACT THAT SOME ARE ALSO REQUIRING HIS STEPPING DOWN, WHICH WOULD BE AN INFRACTION THAT WOULD BE JAILABLE IN CHINA >> > > YEAH, I WOULDN ' T BET ON THE CAESAR STEPPING DOWN I DON'' T THINK HE ' S GOING TO REQUIRE MARTIAL LAW.I THINK HE DOES HAVE AT HIS DISPOSAL An EVEN MORE REPRESSIVE AND ALSO SECURITY TECHNOLOGY THAN WAS EVIDENT BACK IN 1989 SO HE ABSOLUTELY UNDERSTANDS HOW TO RESTRICT THE DISCOURSE AS WELL AS THE WORRIES THAT ARE BEING EXPRESSED BY THE MILITANTS. AS I STATED, HE WILL CERTAINLY MODIFY SOME OF THE LIMITATIONS AT THE MARGIN AS WELL AS HOPE THAT AS WE'' VE SEEN IN THIS COUNTRY, THAT THE EVENTS, THESE VARIANCES EBB AND ALSO THEY CIRCULATION, AS WELL AS HE'' LL GET A BREAK AS OMICRON STARTS TO RECEDE AS I WRITE IN MY PUBLICATION, HE COULD HAVE BEEN A LOT BETTER FOR CHINA IF THEY HAD WORKED TOGETHER WITH United States ON HEALTHCARE PRACTICES AND ALSO PICKED UP FROM OUR EXPERIENCE IN DEVELOPING THESE mRNA VACCINES, IF THEY HAD VACCINATED THEIR VULNERABLE ELDERLY POPULACE, HE WOULDN'' T BE MANAGING THIS.BUT HE DOESN'' T INTEND TO TEAM UP AND ALSO COMPLY WITH US, AND WE DON'' T WANT TO COLLABORATE AS WELL AS ACCEPT HIM. TO ENSURE THAT'' S WHY I ' M BOTHERED WITH THIS DISPUTE ESCALATION THAT I DISCUSS IN MY PUBLICATION >> > > SO DOES THIS CHANGE IN ANY WAY WHAT'' S GOING ON IN CHINA NOW? DOES THIS TRANSFORM IN ANY WAY THE BACKGROUND FOR BUSINESS DOING ORGANIZATION IN CHINA IN YOUR SIGHT >> > > I ASSUME IT MAKES ANY BUSINESS EVEN MORE MINDFUL OF CHINA CONCENTRATION RISKS. YOU UNDERSTAND, YOU'' VE BEEN TALKING ABOUT APPLE RIGHT HERE APPLE IS A CLASSIC CASE WHERE IT HAD BET 100% ON THE PRODUCTION ASSEMBLY PLATFORM IN GUANGDONG PROVINCE AND ALSO LO AND ALSO BEHOLD, IT'' S NOW SIMPLY STARTING TO MAKE iPHONES IN INDIA. SO SUPPLY CHAIN DIVERSITY, WEANING YOURSELVES JUST FROM DEPENDING ON THE WORLD'' S LARGEST AND ALSO THE MAJORITY OF RELIABLE OFFSHORE MANUFACTURING PLATFORM DOESN'' T MAKE AS MUCH FEELING TODAY AS IT DID PRIOR TO THIS CONFLICT AND COVID-RELATED DISTURBANCES GRIPPED THE CHINESE ECONOMIC SITUATION.
>> > > ALL RIGHT STEPHEN, ALWAYS GOOD TO SEE YOU. THANKS QUITE. WE'' LL ALL BE SEEKING YOU BOOK OUT TOMORROW. STEPHEN ROACH. ALL RIGHT. SO WHAT DO WE DO IN STIPULATIONS OF REASONING ABOUT A NIKE, A STARBUCKS? WE'' VE BEEN TALKING ABOUT THIS FOR A LONG TIME. BUT IT APPEARS LIKE THERE ARE MORE AND ALSO MORE EXAMPLES TIME AND AGAIN AND ALSO ONCE MORE OF THE DANGER THAT MIGHT NOT NECESSARILY BE PRICED IN, INDIVIDUAL. >> > > YEAH, I ASSUME IT'' S A BROADER MARKET STORY TOO YOU'' RE RIGHT TO EMPHASIS ON THOSE STOCKS I STILL THINK APPLE'' S GOT THE MASSIVE CROSSHAIRS ON THEIR COLLECTIVE BACK. AND ALSO THE CHANCES– LISTEN, MAYBE IT'' S TAIL RISK, POSSIBLY IT'' S 10, 15 %. BUT IF THIS POINT ESCALATES, APPLE IS GOING TO REMAIN IN THE CROSSHAIRS OF CHINA, WITHOUT CONCERN AND JUST TO THROW APPLE THEREIN AGAIN, DON'' T DISCOUNT CURRENTLY An EXTREMELY PUBLIC FIGHT SEEMINGLY GOING ON WITH ELON MUSK IN TERMS OF HIS DUTY AT TWITTER NOW, IN TERMS OF APPLE AS WELL THERE ARE SO.
