What's ‘troubling' Apple, top economist says: CEO Tim Cook 'figuring out whether to build a factory in India or China'
is reportedly spending more time navigating through the political landscapes than working on innovation, said University of Michigan economist Justin Wolfers. The economist believes that the Cupertino-based tech giant has shifted its priorities under the pressure of US President Donald Trump. Wolfers stressed that the era of trade and tariffs have alerted the corporate priorities, pushing political appeasement ahead of innovation.
Economist Justin Wolfers reveals what's troubling Apple
Speaking on the Contrarian podcast, Wolfers claims that Apple CEO Tim Cook's most important task at hand is ti 'keep Trump happy' as Apple is facing a lot of pressure over its global manufacturing strategy. 'Steve Jobs was focused on making the greatest phone ever made,' Wolfers said. 'Tim Cook is figuring out whether to build a factory in India or China—and how visible he needs to be at Mar-a-Lago'.
Wolfers also criticised the practice of corny capitalism which is on a rise. In corny capitalism the CEOs are either rewarded or punished based on their relationship with the political leaders. He also emphasised that the early tariff exemptions given to automakers is a clear evidence of this favourable practice.
"This is not just bad economics," Wolfers concluded, adding that it creates "a system where innovation takes a back seat to political favoritism."
Another economist Craig Shapiro also raised the some concerns. Shapiro suggested earlier that US President Donald Trump is running the American economy "like a mafia don,'. He claimed major companies, including Apple, were summoned to seek exemptions and support, calling the resulting $500 billion investment pledge 'state-imposed capitalism'.
These remarks came at a time when Apple is planning to diversify its supply chain away from China, with plans to ramp up production in India. However, Trump has publicly opposed Apple's India expansion.
Apple's India manufacturing push faces major setback
In related news, Apple's biggest iPhone supplier Foxconn recently asked hundreds of Chinese engineers and technicians to return home from its iPhone factories in India, with the Indian government being informed of the staff withdrawal without being provided specific reasons for the move.
The departure of Chinese technical staff will slow down the training of local workforce and the transfer of manufacturing technology from China, likely raising production costs and affecting efficiency on iPhone assembly lines. According to Bloomberg, the timing is particularly challenging as Apple prepares to ramp up production of the new iPhone 17 with its manufacturing partners in India.
The move appears linked to Beijing's broader strategy to curb technology transfers and equipment exports to India and Southeast Asia.
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