Seoul Economic Daily (June 1)
“Chinese imported cars overtook Japanese vehicles in Korea’s import market for the first time in April…. The result is striking, considering that all Chinese imports came from a single brand, BYD.” The “Red Tech threat” extends beyond EVs and looks poised “to engulf the AI and advanced manufacturing ecosystem. Before it is too late, the public and private sectors must mobilize all their capabilities to drive structural reform of mainstay industries such as steel and petrochemicals, where competitiveness is weakening, and to nurture new industries. If we fail to confront the reality of the crisis and respond complacently, we will surrender not only future growth engines but also industrial leadership itself.”
Tags: Advanced manufacturing, AI, BYD, China, Competitiveness, Confront, Crisis, EVs, Future, Growth engines, Industrial leadership, Japan, Korea, Mainstay industries, Mobilize, Petrochemicals, Red Tech threat, Steel, Structural reform, Surrender
Fortune (May 31)
Wall Street is awash in rumors that following the mid-June IPO of SpaceX, it will merge with Tesla. “While the $3.4 trillion valuation is breathtakingly big, the combined profits generated by the two potential partners wouldn’t even qualify as shockingly small––based on recent results, they’d be negative.” If Elon Musk succeeds in this merger “he’ll create a $3.4 trillion behemoth—with zero profits.”
Tags: $3.4 trillion, Behemoth, Breathtaking, Combined profits, IPO, Merger, Mid-June, Musk, Rumors, SpaceX, Tesla, Valuation, Wall Street, Zero profits
