
The US Economy Will Pay the Price for Trump's Attacks on Universities
When Chinese scientists forged their first integrated circuit in 1965, the country's fledgling chip industry was only about five years behind the US. Just a decade later, however, China's chip sector had fallen far behind Silicon Valley — and behind its Asian neighbors, as Chris Miller noted in his 2022 book Chip Wars. By the mid-1970s, Intel had invented microprocessors, Japan was dominating the global memory market, and the chip industry was pulling peasants out of the fields in South Korea, Singapore and Taiwan. Yet out of every 1,000 semiconductors produced in China, 'only one is up to standard,' a Communist Party official complained at the time.
What had happened in that intervening decade was the Cultural Revolution, when Mao Zedong effectively declared war on China's educated elites. The Communist Party chairman argued that expertise was a source of privilege that undermined socialist equality. Thousands of scientists and experts were sent to work as farmers in destitute villages; many others were simply killed.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Business Upturn
8 minutes ago
- Business Upturn
macOS 26 compatibility list: check if your Mac will get the update
By Aditya Bhagchandani Published on June 9, 2025, 12:40 IST As Apple gears up to unveil macOS 26 — reportedly named macOS Tahoe — at WWDC 2025, Mac users are eager to know whether their devices will receive the update. While the company continues its shift to Apple Silicon, several older Intel-based Macs are expected to be left out of this year's software rollout. Macs expected to support macOS 26 According to insider reports, macOS 26 will be compatible with the following Mac models: MacBook Pro (2019 and newer) MacBook Air (M1 and later) iMac (2020 and newer) Mac mini (M1 and later) Mac Studio (all models) Mac Pro (2019 and newer) Older Intel-based Macs may lose support Apple appears to be phasing out macOS support for several older Intel Macs as it focuses more on optimizing the OS for its M-series chips. This means devices released before 2019 — particularly Intel-based MacBook Airs, iMacs, and MacBook Pros — may no longer be eligible for macOS 26. This update is expected to introduce a major redesign under the 'Solarium' interface language, with changes like translucent visuals, modernized icons, and improved multitasking tools. Apple may also roll out enhancements such as better Wi-Fi sharing, improved battery health tracking, and cross-device gaming features. If your Mac is more than a few years old, WWDC 2025 may be a sign that it's time for an upgrade. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.


CNBC
19 minutes ago
- CNBC
China and U.S. trade officials to hold talks in London
U.S. President Donald Trump's top trade officials are meeting their Chinese counterparts in London on Monday for talks aimed at resolving an ongoing trade dispute between the world's two largest economies. U.S. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer are representing the U.S. China's foreign ministry said on Saturday that Vice Premier He Lifeng, Beijing's lead trade negotiator, will be in the U.K. between June 8-13, and that a meeting of the "China-U.S. economic and trade consultation mechanism" would take place. The talks come after Trump last week said that he had held a lengthy phone call with Chinese President Xi Jinping as both look to avert a full-blown trade war. Diplomatic efforts by both sides have ramped up after weeks of heightened trade tension and uncertainty after Trump announced sweeping import tariffs on China and other trading partners in April. Beijing retaliated, and a tit-for-tat escalation in duties ensued before both sides agreed in Geneva in May to temporarily slash duties and facilitate talks. At the time, the U.S. tariff on Chinese imports was cut from 145% to 30% , while China's levies on U.S. imports were lowered from 125% to 10%. China and the U.S. have since repeatedly accused each other of violating the Geneva agreement, with Washington saying Beijing was slow to approve the export of additional critical minerals to the U.S., while China criticized the U.S. imposing new restrictions on Chinese student visas and additional export restrictions on chips. U.S. Press Secretary Karoline Leavitt on Sunday said that the London talks would focus on moving forward with the Geneva agreement, noting the two sides' strategic interests in each other's markets.
Yahoo
20 minutes ago
- Yahoo
Trade war: US-China talks in London aim for widespread truce
Top US and Chinese officials are meeting in London on Monday in the hope of making further progress in easing the trade war between the world's two largest economies. The eyes of global financial market investors are firmly on the outcome of the discussions, given the damage already inflicted by the spat and wider US-led trade war. The US delegation is led by Treasury secretary Scott Bessent while China's vice premier He Lifeng - a respected negotiator at the top of the Chinese government - will represent his country. The venue has not been disclosed. Money latest: It is hoped the talks will build on the preliminary agreement struck in Geneva that removed the effective trade embargo between the two nations. That deal amounted to a 90-day reduction in effective tariff rates above 100% to allow for further talks. A phone conversation between Donald Trump and his Chinese counterpart Xi Jinping last week set the scene for Monday's negotiations. Mr Trump later said that Xi had agreed to resume shipments to the US of rare earths minerals and magnets. They had been suspended by Beijing in response to Mr Trump's tariffs and were seen as an effective tool in getting the US to talk due to the havoc it inflicted on supply chains central to many American manufacturers - the very sector the US president is trying to bolster through his "America first" agenda. It emerged on Monday morning that Boeing had resumed shipments of planes to Chinese customers. Mr Trump has described the status of the negotiations as "very far advanced" but China, in its own remarks, has been more critical of the US position. A Chinese government readout of the Trump-Xi conversation said the Chinese premier had told his US counterpart to back down from inflicting further hurt to the global economy. The trade war to date has damaged growth widely, with official US figures showing a sharp slowdown in the first quarter of the year - before the worst of the tariff regime had even been announced. Data out of China on Monday showed deflationary pressures had deepened as factory gate prices - an important signal on future price growth - slid further into negative territory during May as demand for goods continued to drag. Customs data had already showed that China's exports to the US - its biggest single market - slumped by 34.5% year-on-year during May in value terms. That was up from a 21% drop the previous month. Read more:Diplomatic win for UK by hosting US-China talks White House spokeswoman Karoline Leavitt told Fox News: "We want China and the United States to continue moving forward with the agreement that was struck in Geneva. "The administration has been monitoring China's compliance with the deal, and we hope that this will move forward to have more comprehensive trade talks." A UK government spokesperson said of hosting the negotiations: "We are a nation that champions free trade and have always been clear that a trade war is in nobody's interests, so we welcome these talks."