RUSH TRANSCRIPT Ed Thank ░░░░░░░░ very much Caroline We ░░░░░░░░ to talk about how ░░░░░░░░ plays a role the ░░░░░░░░ of technology and politics ░░░░░░░░ major decision for whoever ░░░░░░░░ the White House how ░░░░░░░░ regulate the U S ░░░░░░░░ industry to stay ahead ░░░░░░░░ competition Michelle Giuda from ░░░░░░░░ university The context with ░░░░░░░░ we talk about nvidia ░░░░░░░░ other key players a ░░░░░░░░ story for asml going ░░░░░░░░ Will that perpetuate itself ░░░░░░░░ You are right Context ░░░░░░░░ important When you think ░░░░░░░░ it it is reflective ░░░░░░░░ the new paradigm we ░░░░░░░░ in where tech has ░░░░░░░░ deal with the future ░░░░░░░░ American prosperity and national ░░░░░░░░ We have to scrutinize ░░░░░░░░ countries we are sending ░░░░░░░░ 35s to we have ░░░░░░░░ criticize where we are ░░░░░░░░ our most powerful chips ░░░░░░░░ These are not hairdryers ░░░░░░░░ comes down to trust ░░░░░░░░ we trust the countries ░░░░░░░░ we trust the companies ░░░░░░░░ will not end up ░░░░░░░░ some of our adversaries ░░░░░░░░ like Russia China and ░░░░░░░░ people s liberation army ░░░░░░░░ you ed Benefit being ░░░░░░░░ from current and existing ░░░░░░░░ on semi conductors for ░░░░░░░░ U S Michelle We ░░░░░░░░ taken measures over the ░░░░░░░░ of several administrations to ░░░░░░░░ sure we are preventing ░░░░░░░░ most critical technology from ░░░░░░░░ to China This is ░░░░░░░░ tech diplomacy is important ░░░░░░░░ traveled across the world ░░░░░░░░ the number one thing ░░░░░░░░ hear from allies and ░░░░░░░░ as they want U ░░░░░░░░ Private sector investment It ░░░░░░░░ hard to do that ░░░░░░░░ you have Chinese technology ░░░░░░░░ trusted technology embedded into ░░░░░░░░ government infrastructure in Nick ░░░░░░░░ country You want to ░░░░░░░░ and across your country ░░░░░░░░ make up almost 2 ░░░░░░░░ of global GDP China ░░░░░░░░ Iran Venezuela is less ░░░░░░░░ 20 of GDP There ░░░░░░░░ diplomatic opportunity in that ░░░░░░░░ started through American policy ░░░░░░░░ the right policies around ░░░░░░░░ conductors to make sure ░░░░░░░░ are helping the partners ░░░░░░░░ the trusted network and ░░░░░░░░ in the UN trusted ░░░░░░░░ Ed Earlier this week ░░░░░░░░ s editor in chief ░░░░░░░░ to former President Trump ░░░░░░░░ directly tried to get ░░░░░░░░ sense of what his ░░░░░░░░ will be in regard ░░░░░░░░ China Mr Trump The ░░░░░░░░ they are doing it ░░░░░░░░ is they will not ░░░░░░░░ it afterward They want ░░░░░░░░ I had a relationship ░░░░░░░░ President Xi I had ░░░░░░░░ very good relationship with ░░░░░░░░ and kim jong UN ░░░░░░░░ is a nuclear force ░░░░░░░░ would not believe Ed ░░░░░░░░ Trump discussed his good ░░░░░░░░ with xi but many ░░░░░░░░ we did not get ░░░░░░░░ understanding of if he ░░░░░░░░ continue with the existing ░░░░░░░░ edge chip What is ░░░░░░░░ expectation is President Trump ░░░░░░░░ to take office in ░░░░░░░░ of next year Michelle ░░░░░░░░ controls on critical technology ░░░░░░░░ China began under President ░░░░░░░░ specifically with huawei and ░░░░░░░░ Huawei lost a lot ░░░░░░░░ revenue because the U ░░░░░░░░ Worked with 200 telecommunication ░░░░░░░░ to only use trusted ░░░░░░░░ with 5g and that ░░░░░░░░ not include huawei We ░░░░░░░░ seen controls continue under ░░░░░░░░ Biden Administration It has ░░░░░░░░ on chips lately This ░░░░░░░░ American foreign policy now ░░░░░░░░ only that the Congress ░░░░░░░░ very bipartisan The China ░░░░░░░░ committee called to put ░░░░░░░░ Chinese companies on the ░░░░░░░░ list American companies are ░░░░░░░░ semi conductor manufacturing equipment ░░░░░░░░ is a bipartisan thing ░░░░░░░░ And yet companies still ░░░░░░░░ to access the Chinese ░░░░░░░░ Apple wants to build ░░░░░░░░ there and access to ░░░░░░░░ there Nvidia wants to ░░░░░░░░ less sophisticated ships to ░░░░░░░░ What is a CEO ░░░░░░░░ do in that situation ░░░░░░░░ It was a bloomberg ░░░░░░░░ a couple weeks ago ░░░░░░░░ asked for a take ░░░░░░░░ export controls and said ░░░░░░░░ had to defer policymaking ░░░░░░░░ the U S When ░░░░░░░░ comes to American national ░░░░░░░░ that is not anything ░░░░░░░░ CEO of a critical ░░░░░░░░ company can defer What ░░░░░░░░ ultimately a technology race ░░░░░░░░ CEOs and attack CEOs ░░░░░░░░ to make sure we ░░░░░░░░ advancing our tech competitiveness ░░░░░░░░ not giving that technology ░░░░░░░░ our adversaries who are ░░░░░░░░ to our demise There ░░░░░░░░ a big leadership role ░░░░░░░░ CEOs Caroline Michelle Giuda ░░░░░░░░ to have some time ░░░░░░░░ you CEO of the ░░░░░░░░ for technology at purdue ░░░░░░░░ This is “bloomberg technology.”