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Money Talks from The Economist

Money talks: When the chips are down

Money Talks from The Economist

The Economist

News, Business, Economy, Finance & Economics, Business News

4.41.2K Ratings

🗓️ 21 May 2019

⏱️ 24 minutes

🧾️ Download transcript

Summary

How will the Trump administration’s restrictions affect Huawei—can the world’s second biggest smartphone maker adapt to not doing business with America? Michael Froman, a former US trade representative and the vice-chairman of MasterCard, discusses how private companies themselves can promote freer trade. And Jennifer Eberhardt, a professor of psychology, on the science of racial bias. Simon Long hosts

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Transcript

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0:00.0

This is a passenger announcement. You can now book your train on Uber and get 10% back in credits to spend on Uber eats.

0:11.0

So you can order your own fries instead of eating everyone else's.

0:15.0

Trains, now on Uber. T's and're listening to Money talks on Economist Radio.

0:37.0

On today's show, The Chips are Down.

0:41.0

What does America's Ban on Huawei mean for the world's second biggest maker of smartphones?

0:46.0

Any new Huawei phones that turn up on the market will not be able to use the most modern version of

0:51.9

Android at all.

0:54.0

What can private companies do to promote more and freer trade?

0:58.0

If we're able to implement all of the reforms associated with it, it would add a trillion dollars to the global economy.

1:05.4

And how racial bias in America's justice system closes doors in schools, at work, and beyond.

1:12.0

They're more inclined to see multiple infractions

1:15.2

from a black child as being indicative of that child

1:18.8

being a troublemaker. But first, the Trump administration's ban on Huawei, a Chinese telecoms giant is barely a week old, but the shock waves are already being felt.

1:37.0

Existing supplier contracts are protected for the next three months, but the ban has the effect

1:41.5

of borrowing American companies like Google, Qualcomm and Intel

1:45.3

from supplying the world's second biggest smartphone maker with new hardware, software, or licenses.

1:51.6

Future Huawei devices will not include services such as YouTube or Google Maps.

1:57.0

Our technology correspondence, Tim Cross, here in the studio with me in London,

2:01.0

and Hal Hodson, on the line from Hong Kong are watching all this

2:04.2

closely. Thank you both for joining me. Thanks Simon.

2:07.2

Hi there Simon. Tim can I start with you give us a sense of how significant this is?

2:11.6

What does it mean for Huawei users now?

...

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