Perspectives with Wenchi Yu

Noah Barkin, senior advisor at the Rhodium Group and former Reuters correspondent on Europe‑China ties, offers on‑the‑ground perspective. He maps Germany’s shift from investment optimism to a “China shock.” Short takes cover manufacturing job losses, auto industry bets in China, supply‑chain dependence, 5G and infrastructure security, and Europe’s slow de‑risking vs economic entanglement.

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 significance02:18 - Industry reluctance and political engagement of chip companies04:32 - How manufacturing and policy interest surged with geopolitical shifts06:35 - The 2003 trade disputes over Chinese chip export support09:16 - The rise of Taiwan’s TSMC and decline of US fab dominance11:05 - The generational shift in industry leadership and manufacturing shifts12:45 - Globalization, supply chain vulnerabilities, and strategic concerns13:04 - Growing US awareness of supply chain fragility pre-COVID15:09 - The impact of US Tax and R&D policies in semiconductor investment decisions17:12 - US government funding, China’s rising investment, and research funding gaps18:37 - Developing the TSMC/Taiwan-US partnership and the Chips Act20:15 - Building semiconductor fabs in the US: Costs, timelines, and geopolitical considerations24:29 - Taiwan’s cautious response to manufacturing investments in the US26:45 - How COVID and industry lobbying shifted US policy and industry strategy29:55 - Auto industry’s realization of dependence on chips and supply chain transparency35:47 - Building industry champions and the importance of reputation37:22 - Strategies for foreign companies to gain influence in Washington and Taipei39:06 - The delicate balance of Taiwanese diversification away from China42:16 - US-Taiwan semiconductor cooperation and the importance of joint R&D44:18 - The significance of Taiwan’s role, trust, and future collaboration45:47 - Building trust and advocacy for Taiwanese firms in Washington46:46 - Insights from Condoleezza Rice on managing political risk in corporate strategyPerspectives 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

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. 00:00 Introduction to Fraser Howie and his background in China finance01:46 Historical perspective on China's financial markets since 199204:01 The complexities of Chinese investability and capital flows05:51 The role of politics and stability in China's financial openness07:37 Foreign investment and joint ventures in China over 25 years13:54 UK's engagement with China and the impact of political decisions15:48 China's technological advancements and supply chain dominance17:57 National security risks associated with Chinese technology in critical infrastructure19:42 The challenges of Chinese investment in Britain and other middle powers21:51 Comparing China and India as investment opportunities23:28 The role of London's financial sector in UK-China relations25:36 UK's stock market and regulatory challenges with Chinese listings27:43 The influence of political figures like Peter Mandelson in China-UK relations29:23 The future of global engagement with China and diversification strategies31:34 The importance of a balanced and informed China policy33:29 The impact of China's internal reforms and global integration35:06 The role of the Chinese diaspora in shaping UK-China relations37:07 Lessons learned from past engagement and future policy directions39:21 The importance of principled conditional engagement with China41:08 The need for diversified supply chains and national security considerations43:17 The role of UK and Western financial institutions in China45:20 Conclusion: Navigating the complexities of China in a changing worldPerspectives 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

Host Wenchi Yu speaks with Wade Senti, President of Florida-based Advanced Magnet Lab (AML), about why magnets and rare earths have become a central battleground in the new era of manufacturing and national security. Wade traces AML’s journey from a small robotics‑adjacent lab to a leading U.S. magnet producer, then explains how permanent magnets underpin everything from industrial motors and EVs to drones, humanoid robots, and defense tech. He breaks down the rare earth supply chain, China’s long‑dominant role and pricing power, and why geopolitics and trade tensions have forced companies and governments to rethink China‑dependent inputs. They also explore shifting demand, fragmented global supply, the scramble to build alternative and domestic capacity, including space exploration, and the technological innovations needed to use fewer rare earths while meeting surging magnet demand worldwide.Wade Senti's latest op-ed in mining.com: Permanent magnets are the spear in the critical minerals supply chain2026 Critical Minerals Ministerial00:00 The Global Rare Earth Supply Chain01:37 Understanding Magnets and Their Applications06:27 Shifts in the Magnet Supply Chain11:49 The Growing Demand for Magnets15:32 Challenges in Rare Earth Supply20:22 Government Support and Industry Response24:35 The Future of Magnet Production30:01 Navigating Uncertainty in the IndustryPerspectives 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

Wesley Chu, former Foxconn general counsel and AI policy researcher, walks through Taiwan’s race to become a trusted co‑producer in global manufacturing. He outlines the U.S.–Taiwan investment deal, the push from OEM to value‑driven partnerships, dual manufacturing lines for China vs. the rest of the world, and the push for AI factories, defense tech, and a Taiwan tech firewall.

Host Wenchi Yu speaks with UK-based economist and author Stewart Paterson about how Beijing has used the renminbi (RMB), trade surpluses, and industrial policy to fuel its rise—and why he believes Western engagement with China was flawed from the start. Drawing on decades of experience analyzing China from Hong Kong, Singapore, and London, Paterson explains how deliberate RMB undervaluation, subsidies, and capital controls built China’s export machine while suppressing domestic consumption and reshaping global supply chains.​They dig into the politics behind RMB “internationalization,” the limits of China’s ambitions to challenge the dollar, and how tools such as sanctions, Belt and Road lending, and central bank digital currencies are changing the geopolitical map. Wenchi also presses Paterson on whether the United States is now copying elements of China’s playbook—from industrial policy to re-industrialization—and what it means for countries caught between a dollar system run by a democracy and an RMB regime designed to maximize party-state power.China, Trade, and Power: Why the West's Economic Engagement Has Failed, by Stewart PatersonThis episode is a collaboration with China Strategic Risks Institute.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

Host Wenchi Yu speaks with Bart Linssen, an onshore wind expert who has spent over two decades in Taiwan, about how the island's energy system is struggling to move from cheap coal and nuclear to renewables while keeping prices and supply stable. As Taiwan and the US sign a landmark trade and investment deal centered on semiconductors, some of Taiwan’s most sensitive yet least understood strategic questions remain: how the island can keep the lights on, stay competitive in the global supply chain, and still reach net zero emissions. Bart explains Taiwan’s current mix—dominated by coal and LNG with nuclear recently shut down and renewables stuck at about 10 percent—its complex market design around Tai Power (Taiwan Power Company, 台電), feed‑in tariffs, and corporate Power Purchase Agreements driven by supply‑chain demands like RE100 and Europe’s carbon border tax, and the intensely political battles that routinely derail onshore wind and solar projects at the local level. He also discusses the growing reliance on imported LNG, debates over reviving nuclear (including small modular reactors), and why clearer zoning, more consistent policy, and stronger political will are essential if Taiwan is to reach its 2050 net‑zero goal and remain competitive.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

Host Wenchi Yu speaks with Dr. Ruby Wang, a London-based surgeon turned health-policy and strategy expert, about how China has rapidly evolved from a “copycat” drug producer into a critical source of cutting-edge biotech innovation. Drawing on her experience leading the UK government’s health team at the British Embassy in Beijing during the pandemic and now advising global life sciences clients, Ruby explains how decades of long-term state planning, investment in R&D parks and regulatory reform, a huge patient pool, and a culture of fast experimentation have created a maturing ecosystem that now delivers world‑class oncology, cell therapy, GLP‑1, and AI-enabled drug discovery assets. She describes how roughly 40% of recent global out‑licensing deals now involve China-origin drugs, with Western pharma relying on Chinese assets for growth even as US and European policymakers debate tariffs, data security, and “China risk.”​The discussion explores the tension inside China between keeping medicines affordable for its population and sustaining a profitable, innovative biotech sector, as well as how emerging mixed public–private health models and experiments such as Hainan’s medical tourism zone might ease that pressure. Ruby and Wenchi also unpack Western misconceptions that Chinese biotech is still low quality, arguing that this outdated narrative shapes investor sentiment and policy in ways that could ultimately deprive patients worldwide—especially in developing countries—of effective, lower-cost treatments. They conclude that while security and data-privacy concerns are real, science and healthcare are inherently global, and the key challenge for the West is to manage risk without cutting itself off from Chinese innovation that could help meet urgent global disease burdens.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

As 2025 wraps up, key discussions highlight the shifting US-China-Taiwan dynamics. Trump adapts policies to evolving global orders, while China's tech surge, especially in EVs, sets the stage for 2026 innovations. Taiwan's vital role in this rivalry is emphasized, with predictions about upcoming local elections gauging public sentiment on defense and economic policies. Wenchi Yu also touches on the paths towards a less confrontational US-China relationship and the challenges China faces domestically. The stage is set for significant geopolitical developments ahead!

Host Wenchi Yu speaks with Jane Perlez, host of the podcast Face‑Off: The U.S. vs China and a former New York Times foreign correspondent and Beijing bureau chief. The conversation traces Jane’s journey from an aspiring reporter in Australia to a Pulitzer Prize–winning correspondent who covered conflicts and political transitions from East Africa and the Balkans to Pakistan, Indonesia, and ultimately China. She reflects on how 9/11 and the wars in Iraq and Afghanistan pulled Washington’s attention away from Asia just as China was expanding its influence in Southeast Asia, and how U.S.–China relations slid from the hopeful mood of a 2012 State Department banquet for then–Vice President Xi Jinping into today’s open strategic rivalry. Speaking from her current base in the United States, she discusses the challenges of understanding China without regular on‑the‑ground reporting or a steady flow of Chinese visitors, her decision to turn to podcasting—first with “On the Trail of Xi Jinping” and now with Face‑Off: The U.S. vs China—and why she believes closing the “barrier of ignorance” between the two societies is essential for managing competition and avoiding conflict, including over Taiwan.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