UBS On-Air: Paul Donovan Daily Audio 'Chips chopped'

Japan and the Netherlands are reported to be joining the US in restricting China’s access to semiconductor machinery. Economic nationalism is likely to continue through the fourth industrial revolution—portraying minority groups and foreigners as the enemy distracts from the pain of structural change. In the fourth industrial revolution, technology is less important than how technology is used, but governments prefer to focus on the simplicity of manufacturing rather than the complexity of implementation.