E17: Noah Smith's Reflections on Biden's First Term, Foreign Policy, and Industrial Policy - Econ 102 with Noah Smith

We're excited to introduce Upstream listeners to Econ 102 from Turpentine. In episode 1, Noah Smith and Erik Torenberg discuss the highs and lows of Biden's first term, Biden's policies in comparison to previous presidents and other leaders, as well as China - its real estate sector, industrial and manufacturing industries, and its views on tech. If you're looking for an ERP platform, check out our sponsor, NetSuite: http://netsuite.com/UPSTREAM Subscribe to Econ 102 at the podcast platform of your choice: https://link.chtbl.com/Econ102 Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co -- We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com. RECOMMENDED PODCAST:  Every week investor and writer of the popular newsletter The Diff, Byrne Hobart, and co-host Erik Torenberg discuss today’s major inflection points in technology, business, and markets – and help listeners build a diversified portfolio of trends and ideas for the future. Subscribe to “The Riff” with Byrne Hobart and Erik Torenberg: https://link.chtbl.com/theriff TIMESTAMPS: (00:00) Episode Preview (01:54) Overview of Biden's first term (03:08) The most important thing Biden's done  (12:35) What are the chances of Trump returning? (14:03) In the 1970s once again (14:50) Sponsor: NetSuite (17:26) Noah's ideal foreign policy (17:46) Japan's importance in foreign policy (19:29) Main foreign policy concerns in the next cycle (20:46) The ideal containment strategy (22:05) China (26:23) Getting to 1 billion Americans as a foreign policy measure (27:24) Real estate in China (31:02) Comparing and contrasting Chinese and American industrial policy (38:05) China's stomp on the IT industry to encourage manufacturing (39:15)The difference in Chinese and American views of manufacturing  (43:18) Revitalizing American manufacturing  (47:16) The services industry (49:09) A shortage of human truckers  LINKS MENTIONED: Real Estate is China's Economic Achilles Heel: https://www.noahpinion.blog/p/real-estate-is-chinas-economic-achilles Why is China Smashing its Tech Industry: https://www.noahpinion.blog/p/why-is-china-smashing-its-tech-industry Noah Smith's newsletter: https://www.noahpinion.blog/ Erik Torenberg's newsletter: https://eriktorenberg.substack.com/ TWITTER: @noahpinion (Noah) @eriktorenberg (Erik) Please support our sponsors: Beehiiv | Shopify Head to Beehiiv, the newsletter platform built for growth, to power your own. Connect with premium brands, scale your audience, and deliver a beautiful UX that stands out in an inbox. 🐝to https://Beehiiv.com and use code "UPSTREAM" for 20% off your first three months. Shopify: https://shopify.com/torenberg for a $1/month trial period Shopify is the global commerce platform that helps you sell at every stage of your business. Shopify powers 10% of all ecommerce in the US. And Shopify's the global force behind Allbirds, Rothy's, and Brooklinen, and 1,000,000s of other entrepreneurs across 175 countries. From their all-in-one ecommerce platform, to their in-person POS system – wherever and whatever you're selling, Shopify's got you covered. Sign up for $1/month trial period: https://shopify.com/torenberg. This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at [email protected].