China

“If for some reason, you know, China moved to seize Taiwan or however, you know, it went into play and all of a sudden TSMC's fabs were shut down, then you really, the Western world would be, you know, set back at least five years, if not 10, just in terms of l…”

“A ton of steel made in the United States is going to be made with less energy intensity than most parts of the world. Not all, but most, and certainly China.”

“Doing things to fix our international financial institutions like the World Bank and the IMF, which had been largely overrun by China.”

“It was, you know, in the fall, the number four grossing game in China by revenue. It's called Sky. Sky. And so we're talking about hundreds of millions of dollars in revenue, and he does it with a tiny team. So it's ludicrously profitable. I mean, I think it's…”

“Nike would be one of the very first companies, and I think the first footwear company that would be allowed to sell in China.”

“The first store in China opened in twenty-nineteen, which popped to 400,000 members within two years. The U.S. At maturity is at 68,000 members.”

“Last year, China was 25%, or sales to mainland China, was 25% of NVIDIA's revenue.”

“Well, my position in China has been Well, that the Chinese economy has better future prospects over the next 20 years than almost any other big economy.”

“The first store they tried to open in China, the first store somebody wanted a 30,000 dollar bribe. You know, Chinese culture. And they just wouldn't pay it. And that made such a bad impression on Jim Senegal. He wouldn't even talk to him going into China for …”

“So naturally, I'm willing to have some China risk in the Munger portfolio. How much China risk? Well, that's not a scientific subject, but I don't mind whatever it is, 18% or something, whatever, whatever's worked out in the Munger family, it's okay with me.”

“We struggled in China for almost a decade. Lost money. There was tremendous pressure inside the company of close China.”

“That leaves about four hundred and fifty million people, or six percent of the human population, Who have access to the internet, but are not yet meta monthly actives. That doesn't mean they're not meta users. That just means they weren't monthly active users …”

“That, to me, absent an enormous computing paradigm shift, is the way that TSMC has an enormous risk in the business.”

“The solar business could have been pretty good. However, China ruined it. They subsidized the hell out of it. And they now control that business, solar cells.”

“But it is, you're talking about grids and communications companies and water and even part of the military establishment. The protections are not what you need. If we ever get any kind of war where cyber is involved, and China is very good at it, and so is Rus…”

“China is only seven percent of Ferrari's sales, down from 10% at its peak.”

“Now, Porsche, on the other hand, China was 33% of their deliveries a few years ago, which has collapsed all the way to 15% and continues to fall.”