China

“Time spent in China on short video is two and a half hours a day. Average time spent. And 55% of the users create content.”

“Today, Douyin is driving seven percent of all commerce in China.”

“But right now, a lot of central banks across the world from China to Russia to all of these guys are starting to hoard gold, which is a very interesting trend.”

“Indians watch About 1.3 trillion hours worth of video, like, of all kinds in a year. In China, that number is about 3,000,003 trillion.”

“Only two by the way, China and India.”

“No, no, U.S. Just introduced a 25% tariff for all sustainable material from China.”

“But, India as a market, from a food perspective, from a consumer, consumer perspective, is going to be the biggest, ah, the third biggest consumer market in the world by 2030. After the U.S. And China.”

“This year, 50% of all electric trucks in China were with swappable batteries, right? That target was supposed to be achieved in 27.”

“So energy R&D is forty-five billion. Right? A hundred and fifty million of that goes into clean energy R&D. A third of it goes into fossil fuels. The rest is nuclear. Over all these years, Three percent is going into clean energy and going into renewable energ…”

“So China will in 2030 equal the emissions of the United States on a per capita basis.”

“China became part of it in 2002, and it's a clear relationship between when China joined and how its emission curve went up. Now, the problem is not that China's emission curve went up, but the fact the rest of the world thought they had reduced their emission…”

“You think about someone like Sir Peter Beck today, who's now made New Zealand the fourth biggest launcher of rockets into space after the US, Russia and China.”

“The smartphone screens from China, those companies are losing money to sell the screens. They have policies that subsidize the creation of that industry.”

“After one year, after launching the product at OnePlus, China did one hundred million dollars in revenue. International did two hundred million. China lost money. International made money.”

“Even see, China started their semiconductor program 20 years back. They're still not able to compete on that.”

“So if it was like what we're discussing that, yes, sitting across the table. Okay. If you do this, I do this, then all this, then Google would have been there probably, or Amazon would have been there. I don't think so whether they will be having an Alibaba or…”

“So now the most direct way is Trump had new tariffs for manufacturing from China. So we manufacture the earbuds in China. And that's like a 20% hit on our import business plans for the US market.”

“We went to the worst factory. Like the factory, if they didn't take us on as a client, they would go out of business immediately. In China, because they were on the blacklist of a lot of other people for quality issues.”

“Every AI model that is being built with a reason, except perhaps in China, is headquartered here.”

“My expectation is overall share, especially in the EV sector on a global basis of EVs is going to be is going China's way for a while, but individual innovative OEMs, they're going to do fine.”

“None of the top models are Indian models. They're American and they're Chinese in any field. I mean, audio, video, image.”

“They don't have the latest cutting edge GPU resources, yet somehow they're able to come up with models that are not perhaps the best of the best, but they're quite good. They're frontier as you say.”

“In today's universe, I would avoid, you know, like doing anything in China as somebody who is U.S. Based. That's not a controversial statement.”

“One of the reasons you very hard, it's harder as an investor to make money in China than America is not because of anything else that the government's taking your capital. No, no, no. It's because competition is so intense.”

“Even on the AI front, the only other country in the world today which can do AI of any meaningful scale is China. No European country or any emerging market can.”

“India gave its people lots of political freedom. That you can vote, and the way you want, and you have democracy. These countries did not give their people much political freedom, but they gave their people much more economic freedom compared to India.”

“In the Nineties. This is one thing which I find very fascinating. China fired ninety million people from its state-owned enterprises.”

“But that's where we, I don't think we have that, that capability as yet. I don't see the evidence.”

“In fact, today, China's debt today is, ah, like consumer debt or the debt of the share of its economy is same level as America, even though America is, you know, a much richer economy and stuff.”

“From an economic standpoint, China and Singapore, especially then, Were far more, ah, free than India.”

“Because China doesn't have, it's still at the end of the day controlled by a communist party. And they don't have capital account convertibility. Therefore the trust in the Chinese currency is still very low.”

“When Deng Xiaoping began economic reforms in China in 1978, the government was practically more like the entire economy. It, the government's share in the economy, if you look at employment and other things, over the next 3040 years, fell to about 30%.”

“There is no country in the world which has grown rapidly without rapid population growth. No country.”

“Doyen, which is TikTok, is 40% of retail.”

“We're the largest motorcycle seller in Africa. Bajaj has beaten Chinese motorcycle players.”

“I think the technology war is the most important war that almost whoever wins the technology war will win almost everything.”

“The inventiveness of new chips and the most advanced chips the United States is a bit ahead, is, is ahead. And then but the application to use the chips, whatever AI there is, to be able to integrate it into life and making it for the society Most applications…”

“A lot of these models, particularly the ones that come from China, are optimized for benchmarks and are distilled from, ah, you know, from kind of the big US labs.”

“The way I'm looking at it with all the geopolitical stuff going on, if I were to wager a guess, I would think at some point in the future, we will all live in a more multipolar world where we individually countries go down the path of Russia and China, where m…”

“Super apps have never worked in India. A lot of people have tried it actually outside of China. They've not worked anywhere, right?”

“Chinese exports though, and the Chinese trade surplus is a record high as a percentage of global GDP. So all those exports are going to all these other countries. So I think there'll be increasing tension with these other countries.”

“India was an IDA country once upon a time, and now is a donor to IDA. Turkey, China, South Korea, were all IDA countries, now donors.”

“At the time, the GDP of China was 20% bigger than that of Brazil. Today, it's 14 times bigger.”

“29% of all new drugs are now, I think, in cancer are coming from China.”

“India is a big exporter of APIs. In fact, the competition is severe among Indian companies. It's not the Chinese which are competing with us.”

“For, you know, for their country's supply chain security, they passed a biosecure act, which encouraged companies to move out of China. Right. So there's a whole thing called China plus one strategy. Yeah. That's an opportunity for Indian companies. Indian com…”

“In COVID time, I'm telling you this, in COVID time, we had more reliable supplies from China than from Indian companies.”

“Indian abilities and scientific and manufacturing abilities and biologics are lagging. China is way ahead of us in biologic drugs. I wouldn't say that in chemistry, but I'll say that in biologics.”

“70% of the biologics, which are novel biologics ADCs are coming from there.”

“Fifty billion or so last year's deal making in from China. And all the global trials are coming from China now.”

“They're selling these cheap intermediates to us. We convert them into API. We make more money than them.”

“Even if you levy a 100% tariff on new energy vehicles, China's new energy vehicles will still be very attractive in European market or maybe even in the States.”

“If we look at China's external balance with the rest of the world in the years immediately leading up to the pandemic, the trade surplus, depending on how you measure it, was around, you know, 100 to two hundred billion dollars a year, which is, you know, In o…”

“I think for the first 10 years of this century, it was growing over nine percent, and for the past decade or so, it was around seven, and over the past five years, it's more around five.”

“Even though we're not happy enough with the US dollar as a restoration of value, there's really no other alternative we can put the money into. Of course, gold is one possibility, but the market is not deep or large enough.”

“Whatever happened to South Korea or some other Southeast Asian countries during the financial crisis has taught China a lesson about a running deficit, maybe even a brief and concentrated period of time could open your country to vulnerability, which is a reas…”

“China started its exchange rate reform about a decade ago, and then RMB went down in devaluation for about a 30%, but it has appreciated 10 to 15% since last summer.”

“The productive side of the economy in terms of, you know, the factories being able to produce more and sell things recovered from COVID faster and better than the domestic Demand consuming side. Part of that reflects, as the name was saying, the consequences o…”

“Land sales have become the biggest contribution to fiscal revenues to many local governments in China.”

“That being said, I think, I mean, the new growth engine, I mean, being the so-called new quality productive forces higher-end manufacturing new technology, AI, and high-end semiconductors are coming up pretty strongly.”

“Borrowing from the experience, the successful experience of China, I think I would say to start the country, I would put more emphasis on efficiency than fairness. Which is not very easy to sell, but I think that's going to lift the country.”

“And also the lithium refining is mostly in China, actually.”

“For, if you beat choose lithium ion battery, once there's export from China, no one can beat the Whole cost.”

“Today's situation in China is a national drive for last decades. So, you know, so the pure EV car, it can get easily charged in China, in most cities, but you cannot guarantee that happen in India, or even in Germany. I don't think there's too many charge stat…”

“Whatever industry India goes for, my recommendation would be, please don't compete with China.”

“But those are not profitable ventures. Like even the Chinese government till date has not been able to break even on that. It requires a lot of capex.”