The worst economic crisis in decades puts Argentine ingenuity to the test

[MilHojas]

Under President Milei, the worst economic crisis in decades puts Argentine ingenuity to the test

The political establishment’s failure to fix decades of crisis in Argentina explains the tide of popular rage that vaulted the irascible Javier Milei, a self-declared “anarcho-capitalist,” to the presidency.

apnews.com

Alejandra, a street vendor, saw people with nowhere to urinate.

Now we are definitely on the way to true market economy.

 

[Ruta Otto]

Under President Milei, the worst economic crisis in decades puts Argentine ingenuity to the test

The political establishment’s failure to fix decades of crisis in Argentina explains the tide of popular rage that vaulted the irascible Javier Milei, a self-declared “anarcho-capitalist,” to the presidency.

apnews.com

Now we are definitely on the way to true market economy.

Now, instead of a nation of professionals and shopkeepers, Argentina is becoming a nation of prostitutes and streetsweepers. I hope Milei enjoys Paris.

 

[Agribotics]

It's a myth that governments create prosperity. Educated, creative people with a good work ethic and a government that supports them create prosperity:

We (Nvidia) have a very long history in Taiwan. A long time ago when I was young and when Nvidia was young, I came to Taiwan to seek partners to help us build our chips," Huang said. "I was fortunate to have the support of TSMC, package company SPIL (Siliconware Precision Industries), and many assembly companies here, like Foxconn, Asus, MSI, Quanta."

"Another reason is technology excellence. The ecosystem is unparalleled," he said. "Every aspect of building chips and computers is located here, all the way down to the most minute, complex connectors that connect high-speed cables."

Huang also praised the "work ethic" of the people here and the "spirit of partnership" among the companies.

"That has really set Taiwan apart," he added.

Meanwhile, "Taiwan is the source of so much of our engineering. We have hundreds of engineers here and over the next five years, we are going to hire another thousand engineers," Huang said, referring to the R&D center.

In the interview, he also said that the company is "seeking a large plot of land" to build a "significant headquarters" here.

"If anybody has some property they'd like to tell me about, please let me know," he said in the interview.

--Jensen Huang, CEO Nvidia (world's most valuable company)

 

[FrankPintor]

It's a myth that governments create prosperity. Educated, creative people with a good work ethic and a government that supports them create prosperity:

How do you think educated, creative people appear? Homeschooling to university level and beyond?

 

[Ruta Otto]

It's a myth that governments create prosperity. Educated, creative people with a good work ethic and a government that supports them create prosperity:


--Jensen Huang, CEO Nvidia (world's most valuable company)

The Taiwan government is TSMC's largest shareholder. The Taiwanese government funded chip research in the 1970s and constructed a wafer demonstration factory. Taiwan has invested heavily in technology, much to their benefit. This free market thinking only goes so far. Every billionaire out there has received subsidies at one point from a government entity. This "I pulled myself up by my bootstraps" ideology is bullcrap. Government investment is the key to a country's prosperity.

 

[zensailor]

The Taiwan government is TSMC's largest shareholder. The Taiwanese government funded chip research in the 1970s and constructed a wafer demonstration factory. Taiwan has invested heavily in technology, much to their benefit. This free market thinking only goes so far. Every billionaire out there has received subsidies at one point from a government entity. This "I pulled myself up by my bootstraps" ideology is bullcrap. Government investment is the key to a country's prosperity.

much like inherited wealth .... born on third base and they think they hit a triple.

 

[Agribotics]

The Taiwan government is great. It's created a business-friendly, low tax environment that's made doing business in Taiwan efficient, profitable, and predictable in the 25 years I've been doing business there. Every time I have reason to interact with some government entity I marvel at how efficient and supportive of my entrepreneurial efforts it is. Morris Chang, Jensen Huang, Terry Guo etc. created Taiwan's prosperity though, not some government minister who doesn't know the first thing about running a business. They would never attempt to do the same thing in Argentina due to its bloated, adversarial, and hopelessly inefficient government.

 

[FrankPintor]

The Taiwan government is great. It's created a business-friendly, low tax environment that's made doing business in Taiwan efficient, profitable, and predictable in the 25 years I've been doing business there. Every time I have reason to interact with some government entity I marvel at how efficient and supportive of my entrepreneurial efforts it is. Morris Chang, Jensen Huang, Terry Guo etc. created Taiwan's prosperity though, not some government minister who doesn't know the first thing about running a business. They would never attempt to do the same thing in Argentina due to its bloated, adversarial, and hopelessly inefficient government.

You present barely half of the equation. If you show any interest beyond randomly pontificating about places where you aren’t, I’d be happy to respond in more detail. For now, I’d suggest, you’re just a cipher.

 

[Ruta Otto]

The Taiwan government is great. It's created a business-friendly, low tax environment that's made doing business in Taiwan efficient, profitable, and predictable in the 25 years I've been doing business there. Every time I have reason to interact with some government entity I marvel at how efficient and supportive of my entrepreneurial efforts it is. Morris Chang, Jensen Huang, Terry Guo etc. created Taiwan's prosperity though, not some government minister who doesn't know the first thing about running a business. They would never attempt to do the same thing in Argentina due to its bloated, adversarial, and hopelessly inefficient government.

Again, billionaires subsidized by government

TSMC expands U.S. investment to $65bn after securing $6.6bn grant

Company agrees to produce 2-nm chips and build third plant in America

asia.nikkei.com

 

[Agribotics]

Again, billionaires subsidized by government

TSMC expands U.S. investment to $65bn after securing $6.6bn grant

Company agrees to produce 2-nm chips and build third plant in America

asia.nikkei.com

TSMC didn't seek US funding. The US asked TSMC to build a cutting edge semiconductor fab in Arizona even though TSMC's founder, Morris Chang, says he doubts it will succeed.

“The United States stood out for cheap land and electricity when TSMC looked for an overseas site but we had to try hard to scout out competent technicians and workers in Arizona because manufacturing jobs have not been popular among American people for decades,” Chang said, according to a transcript of his speech viewed by Asia Times.

Taiwan Semiconductor Manufacturing Company (TSMC) founder Morris Chang told a symposium this week that the fundamentals underlying his semiconductor production company’s world domination are not easy to replicate or transplant elsewhere – including in the United States.

The company’s plain-spoken founder warned in particular of challenges for the company’s planned, new $12 billion fabrication plant in Phoenix, Arizona, which he and other senior executives and American officials had broken ground on less than a year ago. . . .

“It’s unlikely we can replicate all these in Arizona.”

Alex Capri, a visiting senior fellow and global supply chain specialist with the National University of Singapore’s Business School, told German broadcaster Deutsche Welle that TSMC would continue to face “squeezing” from the China-US rivalry but also beckoning from America as the Biden administration doubled down on its home-made semiconductor push.

“TSMC would have to respond, even if from a business point of view it’s more expensive and less efficient to run factories overseas,” said the scholar, adding that Taiwan would still serve as the prime locus for much of TSMC’s core research and production. . . .

After suggesting that the US was unlikely to have the ingredients to recreate Taiwan’s special mix, Chang in his talk pivoted to enthuse over the island’s indispensable attributes.

TSMC founder doubts US competence in chip-making - Asia Times

Taiwan Semiconductor Manufacturing Company (TSMC) founder Morris Chang told a symposium this week that the fundamentals underlying his semiconductor

asiatimes.com

When Taiwan Semiconductor Manufacturing Co. opened its first U.S. factory in 1998, it occupied a small piece of its 260-acre property in Camas. Plans called for several more factories on the site, known as WaferTech, which could have been a major new economic engine in the Portland area.


TSMC never built any of those factories, though, and the company’s founder gave a frank explanation this month of why most of WaferTech acreage remains empty — and why he thinks the current push to revive U.S. chip manufacturing is doomed, despite $52 billion in federal support now before Congress.

TSMC’s Morris Chang explains WaferTech’s failure in Camas, calls push for U.S. chip revival an ‘exercise in futility’

“Initially it was chaos, it was just a series of ugly surprises."

www.oregonlive.com