company, partnering with ford, to build electric car batteries here in the united states. that company is tied to the chinese communist party s united front influence campaign. ford says this, ford is accelerating the reshoring of america s critical supply chains. ford will maintain full control of the battery facility, wholly owned by ford, no foreign investment. it does not eliminate the possibility of influence from china and where do the raw materials for the batteries come from, if not china? yeah, you are absolutely right. this is industry responding to government policy, and when you have states like california banning any gas powered vehicles, when you have the massive taxpayer funded subsidies in the inflation reduction act, then industry is going to respond. the problem is, all roads lead through china when it comes to the technology and we know their long painful history with i.p. theft and your point on the raw
China’s ailing property sector is dependent on surging amounts of debt that are unsustainable. With over 40 per cent of local government bonds maturing in the next five years, authorities face a debt squeeze which, even if overcome, will recur without serious reform.
is back with the first winter meeting since 2020 there in switzerland right now. our invitation to the global elite meeting lost in the mail. a busy summit. give us an overview. i think the big theme is coming back together. you know, we just had davos in the spring. we re coming out of the winter which is the conference takes place. and the big theme this year is whether or not countries can remain collaborative. there is concern that more companies are trying to on shore or as they call it friend shore which is bringing manufacturing back into their own borders. and that means that there will be less reliance on other countries. if there is less reliance on other countries, then we have fewer connections to the countries. so there is a big concern of global fragmentation. i think this year is important for leaders to come back and say do we still want to work together as a country and also to share our culture? yeah. the pandemic, the driver of the on shoring. that is a good poin