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Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

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Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

Invest Like the Best with Patrick O'Shaughnessy

2025/10/16
Invest Like the Best with Patrick O'Shaughnessy

Invest Like the Best with Patrick O'Shaughnessy

2025/10/16
OverviewShownoteHighlightsTranscriptChaptersPins

Shownote

My guest today is Dan Wang. Dan is a technology analyst and author who spent six years living in China studying its manufacturing ecosystem and tech development, best known for his new book Breakneck. Dan offers the most nuanced framework I've encountered ...

Highlights

In this episode, Dan Wang, a technology analyst with deep experience in China's tech and manufacturing landscape, offers a compelling analysis of the evolving U.S.-China competition. Drawing from his book *Breakneck*, he unpacks the structural differences between the two powers that shape their technological trajectories, economic models, and societal priorities—providing investors and policymakers with a nuanced lens beyond conventional geopolitical narratives.
09:18
China excels in scaling technology but lacks breakthrough innovation like the U.S. garage-invention model
19:02
Technology must be viewed as both a political and aesthetic project to inspire national commitment.
22:59
Chinese and Americans are the two great sources of entrepreneurial dynamism in the world
37:29
Chinese automakers are at least three times faster than US companies in bringing new models to market.
39:11
Jack Ma's criticism triggered a government crackdown on Ant Financial
47:46
By the end of this year, half of cars sold in China will be electric, reducing foreign energy dependence.
48:34
China showed high-speed coordination among manufacturers, tech companies, and the government during COVID
52:59
The Metro North train from New Haven to New York is now slower than it was in 1914.
56:40
China studied the Soviet collapse and avoided simultaneous political and economic reforms
1:04:04
China excels at manufacturing and may lead in AI and vehicle-making despite censorship and capital controls.
1:13:48
China is automating manufacturing to produce more drones, munitions, and ships
1:15:30
Xiaomi launched electric SUVs and set a Nürburgring speed record while Apple abandoned its car project
1:33:24
Kindness is an ongoing act, not a single deed.

Chapters

Welcome to Invest Like the Best
00:00
China's Engineering State and Social Engineering
05:55
US-China Competition: Innovation and Manufacturing
12:15
The Future of US and China: Technological and Economic Perspectives
19:41
Cultural and Work Ethic Comparisons
25:22
Investing in China: Opportunities and Risks
39:09
Future Equilibrium States Between US and China
44:43
China's High Agency and Infrastructure
48:32
Lawyerly Tendencies in US Society
49:58
Comparing US and Chinese Societal Structures
53:41
China's Historical Lessons and Future Prospects
57:59
AI and Technological Competition
1:10:39
Vertical Integration in Chinese Companies
1:15:30
The Kindest Thing
1:26:39

Transcript

Patrick O'Shaughnessy: The best operators have a relentless focus on leverage, finding ways to multiply their impact rather than just working harder. But here's what I see happening in finance teams everywhere. Brilliant people getting buried in expense ma...