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“America's core culture has been and, at the moment, is still primarily the culture of seventeenth- and eighteenth-century settlers who founded American society. The central elements of that culture can be defined in a variety of ways but include the Christian religion, Protestant values and moralism, a work ethic, the English language, British traditions of law, justice, and the limits of government power, and a legacy of European art, literature, philosophy, and music.”
― Who Are We?: The Challenges to America's National Identity
― Who Are We?: The Challenges to America's National Identity
“With Huawei’s design arm proving itself world-class, it wasn’t hard to imagine a future in which Chinese chip design firms were as important customers of TSMC as Silicon Valley giants. If the trends of the late 2010s were projected forward, by 2030 China’s chip industry might rival Silicon Valley for influence. This wouldn’t simply disrupt tech firms and trade flows. It would also reset the balance of military power.”
― Chip War: The Fight for the World's Most Critical Technology
― Chip War: The Fight for the World's Most Critical Technology
“After careful analysis, Xi concluded that Gorbachev made three fatal errors. He relaxed political control of society before he had reformed his country’s economy. He and his predecessors allowed the Communist Party to become corrupt, and ultimately hollow. And he “nationalized” the Soviet military, requiring commanders to swear allegiance to the nation, not the Party and its leader. As a result, this “left the Party disarmed.” When opponents rose up to overthrow the system, in Xi’s words, there was nobody left who “was man enough to stand up and resist.”36”
― Destined For War: Can America and China Escape Thucydides's Trap?—A Critical Examination of Historical Patterns Leading to War Between Great Powers
― Destined For War: Can America and China Escape Thucydides's Trap?—A Critical Examination of Historical Patterns Leading to War Between Great Powers
“There are at least three ways in which bubbles can be useful. First, the bubble may facilitate innovation and encourage more people to become entrepreneurs, which ultimately feeds into future economic growth.9 Second, the new technology developed by bubble companies may help stimulate future innovations, and bubble companies may themselves use the technology developed during the bubble to move into a different industry. Third, bubbles may provide capital for technological projects that would not be financed to the same extent in a fully efficient financial market. Many historical bubbles have been associated with transformative technologies, such as railways, bicycles, automobiles, fibre optics and the Internet. William Janeway, who was a highly successful venture capitalist during the Dot-Com Bubble, argues that several economically beneficial technologies would not have been developed without the assistance of bubbles.10”
― Boom and Bust: A Global History of Financial Bubbles
― Boom and Bust: A Global History of Financial Bubbles
“Chinese seek victory not in a decisive battle but through incremental moves designed to gradually improve their position. To quote Kissinger again: “Rarely did Chinese statesmen risk the outcome of a conflict on a single all-or-nothing clash: elaborate multi-year maneuvers were closer to their style. Where the Western tradition prized the decisive clash of forces emphasizing feats of heroism, the Chinese ideal stressed subtlety, indirection, and the patient accumulation of relative advantage.”48 In an instructive analogy, David Lai illustrates this by comparing the game of chess with its Chinese equivalent, weiqi—often referred to as go. In chess, players seek to dominate the center and conquer the opponent. In weiqi, players seek to surround the opponent. If the chess master sees five or six moves ahead, the weiqi master sees twenty or thirty. Attending to every dimension in the broader relationship with the adversary, the Chinese strategist resists rushing prematurely toward victory, instead aiming to build incremental advantage. “In the Western tradition, there is a heavy emphasis on the use of force; the art of war is largely limited to the battlefields; and the way to fight is force on force,” Lai explains. By contrast, “The philosophy behind go is to compete for relative gain rather than seeking complete annihilation of the opponent forces.” In a wise reminder, Lai warns that “It is dangerous to play go with the chess mindset. One can become overly aggressive so that he will stretch his force thin and expose his vulnerable parts in the battlefields.”
― Destined For War: Can America and China Escape Thucydides's Trap?—A Critical Examination of Historical Patterns Leading to War Between Great Powers
― Destined For War: Can America and China Escape Thucydides's Trap?—A Critical Examination of Historical Patterns Leading to War Between Great Powers
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Marcel’s 2025 Year in Books
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