Perspectives with Wenchi Yu

Ep. 38 Taiwan’s $25 Billion Special Defense Budget: Partisan Politics, Drones, and Deterrence?

Host Wenchi Yu speaks with Dr. Alexander C. Huang, a former KMT Director of International Affairs, a cross-strait war game strategist, and an expert on the PLA, about why the Taiwanese government’s US$40 billion proposal was cut to US$25 billion, what the fight over special versus regular budgets reveals about Taiwan’s politics, and how decisions on Foreign Military Sales (FMS), commercial deals, and domestic drone production will affect Taiwan’s defense posture for years to come. 00:00 Taiwan's Defense Budget Overview 02:49 Political Dynamics Behind the Budget Approval 05:40 Debate on Domestic Production and Drones 08:45 Urgency of Defense Needs and Procurement Challenges 11:43 Opposition Perspectives and Political Consensus 14:41 Future of Taiwan's Defense Spending 17:31 Implications of the Xi-Trump Summit 20:35 Lessons Learned and Future Strategies Perspectives with Wenchi Yu YouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxH Spotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620 Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Ep. 37 The New Space Age: How Privatization Fuels China’s Aerospace Rise

Host Wenchi Yu speaks to Allen Fung, formerly with Hong Kong Aerospace Technology Group, about China’s emerging commercial space sector and the broader “second space age,” tracing how SpaceX’s 2015 Falcon 9 landing helped spur Beijing to open its rocket industry to private firms and create a fast-growing ecosystem around launch and satellites. Allen explains how reusable rockets and cheaper access to orbit are enabling new possibilities, such as space-based data centers powered by constant solar energy and cooled by radiating heat into space, as well as speculative but potentially transformative ideas like manufacturing artificial diamond semiconductors in microgravity to achieve phosphorus-doped “negative type” diamond devices that are difficult to make on Earth. Allen argues that China and hubs like Hong Kong intend not just to follow U.S. pioneers like SpaceX and Blue Origin but to help shape the next phase of global space and technology competition. 00:00 The New Space Age: China's Aerospace Sector 02:26 China's Response to Artemis 2 04:51 The Rise of Private Rocket Companies in China 09:04 The Role of Hong Kong in Aerospace 12:17 The Competitive Landscape of Aerospace Companies 16:15 The Future of Space Manufacturing 26:03 Semiconductors in Space: A New Frontier Perspectives with Wenchi Yu YouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxH Spotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620 Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Ep. 36 Germany's China Shock: Navigating Economic Dependence and Geopolitical Risks with Noah Barkin

Host Wenchi Yu speaks with Noah Barkin — senior advisor at Rhodium Group [https://rhg.com/] and author of the popular “Watching China in Europe [https://substack.com/@noahbarkin]” newsletter — about the rapidly shifting landscape of Germany's relationship with China. Germany is losing roughly 10,000 manufacturing jobs per month. As European leaders line up to visit Beijing and global trade tensions intensify, Germany finds itself caught between two worlds — deeply entangled with China economically but increasingly alarmed by the dependencies and security risks arising from this close relationship. From factory floors in Anhui to 5G towers in Hamburg, the choices Germany makes about China will shape not only its future, but Europe's. This episode is a collaboration with the China Strategic Risks Institute [https://www.csri.global/].    00:00 Introduction and Guest Background 02:01 The State of Germany-China Relations Today 03:27 China's Support for Russia and Geopolitical Tensions 05:23 Perception of China's Support for Russia in Germany 07:05 Economic Shifts in German-China Business Relations 09:16 China Shock and Its Impact on German Industry 11:35 Auto Industry Investment and Deindustrialization 14:11 Cost Efficiency and Localization in China 16:44 Supply Chain Ecosystems and China's Industrial Advantage 18:43 European Trade Strategies and De-risking Efforts 21:33 EU Trade Policy and Tariffs on Chinese Goods 23:14 Pharmaceutical Industry and Chinese Competition 25:19 Critical Infrastructure and 5G Security Concerns 29:17 De-risking Supply Chains and Europe's Dependence on China 32:18 EU vs. Germany: Divergent Approaches to China 34:57 US Policies and Europe's China Strategy 38:08 Conclusion: Europe's Hedging Strategy and Future Outlook Perspectives with Wenchi Yu YouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxH Spotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620 Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Ep. 35 Lobbying for Semiconductors in Washington: Patrick Wilson on Two Decades of Chip Policy

Host Wenchi Yu speaks with Patrick Wilson—who until recently served as Vice President of Government Affairs for MediaTek—about how semiconductors went from an obscure, capital‑intensive niche to the center of global industrial strategy. Drawing on two decades in Congress, industry, and the first Trump administration, Patrick explains why Washington woke up to its dependence on Taiwan and Asia, how the TSMC Arizona deal and the CHIPS Act were really conceived, and what political‑risk mitigation strategies Taiwanese and other foreign firms should adopt as they navigate Beijing, Taipei, and Washington. 00:00 - Introduction: Semiconductor industry’s geopolitical significance 02:18 - Industry reluctance and political engagement of chip companies 04:32 - How manufacturing and policy interest surged with geopolitical shifts 06:35 - The 2003 trade disputes over Chinese chip export support 09:16 - The rise of Taiwan’s TSMC and decline of US fab dominance 11:05 - The generational shift in industry leadership and manufacturing shifts 12:45 - Globalization, supply chain vulnerabilities, and strategic concerns 13:04 - Growing US awareness of supply chain fragility pre-COVID 15:09 - The impact of US Tax and R&D policies in semiconductor investment decisions 17:12 - US government funding, China’s rising investment, and research funding gaps 18:37 - Developing the TSMC/Taiwan-US partnership and the Chips Act 20:15 - Building semiconductor fabs in the US: Costs, timelines, and geopolitical considerations 24:29 - Taiwan’s cautious response to manufacturing investments in the US 26:45 - How COVID and industry lobbying shifted US policy and industry strategy 29:55 - Auto industry’s realization of dependence on chips and supply chain transparency 35:47 - Building industry champions and the importance of reputation 37:22 - Strategies for foreign companies to gain influence in Washington and Taipei 39:06 - The delicate balance of Taiwanese diversification away from China 42:16 - US-Taiwan semiconductor cooperation and the importance of joint R&D 44:18 - The significance of Taiwan’s role, trust, and future collaboration 45:47 - Building trust and advocacy for Taiwanese firms in Washington 46:46 - Insights from Condoleezza Rice on managing political risk in corporate strategy Perspectives with Wenchi Yu YouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxH Spotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620 Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395

Ep. 34 London, Beijing, and Ring‑Fenced Capital: Fraser Howie on China Finance and UK-China Relations

Host Wenchi Yu speaks with UK‑based Fraser Howie in the wake of Prime Minister Keir Starmer’s ice‑breaking trip to China. Fraser—a veteran China markets analyst and co‑author of several books on the Chinese financial system—reflects on three decades of watching China’s rise from inside Beijing, Hong Kong, and Singapore. He traces how early hopes that finance and WTO integration would liberalize China gave way to a more sober reality: a system where politics dominates markets, foreign firms struggle to earn real returns, and “investability” is constrained by capital controls, opacity, and state priorities. Against the backdrop of Trump 2.0, a more distrustful West, and a UK desperate for growth yet wary of dependency, Fraser dissects London’s renewed outreach to Beijing—from audit rules and listings to wind turbines and students—and cautions that neither China nor the United States offers easy answers for middle powers trying to balance security, values, and economic needs. This episode is a collaboration with the China Strategic Risks Institute [https://www.csri.global/ ].  00:00 Introduction to Fraser Howie and his background in China finance 01:46 Historical perspective on China's financial markets since 1992 04:01 The complexities of Chinese investability and capital flows 05:51 The role of politics and stability in China's financial openness 07:37 Foreign investment and joint ventures in China over 25 years 13:54 UK's engagement with China and the impact of political decisions 15:48 China's technological advancements and supply chain dominance 17:57 National security risks associated with Chinese technology in critical infrastructure 19:42 The challenges of Chinese investment in Britain and other middle powers 21:51 Comparing China and India as investment opportunities 23:28 The role of London's financial sector in UK-China relations 25:36 UK's stock market and regulatory challenges with Chinese listings 27:43 The influence of political figures like Peter Mandelson in China-UK relations 29:23 The future of global engagement with China and diversification strategies 31:34 The importance of a balanced and informed China policy 33:29 The impact of China's internal reforms and global integration 35:06 The role of the Chinese diaspora in shaping UK-China relations 37:07 Lessons learned from past engagement and future policy directions 39:21 The importance of principled conditional engagement with China 41:08 The need for diversified supply chains and national security considerations 43:17 The role of UK and Western financial institutions in China 45:20 Conclusion: Navigating the complexities of China in a changing world Perspectives with Wenchi Yu YouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxH Spotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620 Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395