While China manufactures most of the world’s smartphones and computers, it IMPORTS almost all the semiconductors needed to provide the logic and memory that run the gadgets. Last year,China paid $260 billion dollars importing chips—60% more than it spent on oil. If you thought the tech boom was over and microchips were a passing fad, think again! The market is booming and will continue to boom. And now China has a goal to dominate 50% to 80% of the world’s markets for artificial intelligence, microchip technology, robotics, special alloy steel, and aluminum by 2025–even if they have to steal the technology to achieve it! Today, hear a report from the Wall Street Journal on how the theft is happening. Then Steve reviews investment opportunities for China’s 2025 project. MASTERING MONEY IS ON THE AIR!!
