16:54 I am a Fab engineer. I wish I studied software instead since there were a lot of software engineer opportunities. Most Fabs in the US are close. The story is quite accurate. There are some old "Analog Fabs" in the US since Analog does not need the leading technologies. Intel is the only few advanced US Fabs. GlobalFoundries is another one. Intel Technology is well behind TSMC for years right now. Intel is a sinking ship!
Allow me to present my thoughts to Dr. Gong: China, much like many other nations, has embraced the Investment Growth Model. Every society begins with agriculture to sustain its population, eventually transitioning to industrialization for enhanced productivity. While children are invaluable assets in farming, they become costly endeavors in urban settings, leading to a decline in population seen in most industrialized countries. To reach the pinnacle of becoming a SUPER ECONOMY, a nation must prioritize consumption. In 2023, the US boasted a consumption rate of 80%, Hong Kong 85%, Singapore 75%, China 53%, and Russia 45%. Wen Jiabao, in 2007, emphasized the necessity for China to bolster consumption. However, this entails redistributing wealth (and indirectly, power) from the central government to the public. Thus far, China has chosen to preserve its wealth and authority, a stance that has proven challenging for many countries at similar junctures. Thank you.
@KOFAKEDEM6 ай бұрын
Insightful comments, but, so far, there is no indication that Dr. Gong has ever acknowledged any valuable thoughts. I see nothing but heightened frustration and decline if this continues. May God help Elmer by instilling more succinct wisdom upon him and this movement.
@frankchiang70486 ай бұрын
China has adopted 'Investment Explosion Model' which now proves to be disastrous. Other Western countries have adopted 'Investment Growth Model' which will also prove to be harmful. There is only one country which adopts an economic model which will survive. Do you know which?
@DonRua6 ай бұрын
@@frankchiang7048 the country that will transfer capital intensive, industrialized stage of the Investment Growth Model to CONSUMPTION heavy will succeed. This is a trick question, Cos it is not US, nor Japan, Germany, they all got caught by this model. If I were a gambling man, I’d say HK, right here.
@DonRua6 ай бұрын
I agree. Based on the language used in the two responses so far, it's probable that the three of us have collectively accumulated over 55 years of education. We engage in debate. It seems that many people utilize this platform solely to vent their frustrations, which could explain why Dr. Gong may not pay much attention to those types of posts. Unfortunately, we find ourselves caught in the middle of such situations lol.
@KOFAKEDEM6 ай бұрын
Since you explicitly addressed your comments to Dr. Gong, I would assume that you intended for Gong to read them. But in the same breath, you also stated that she wouldn't pay much attention to these comments for the reasons you stated. Either Gong cares enough or has the ability to differentiate and respond accordingly, or she doesn't. They are mutually exclusive. To date, my observations are such that the latter is the case. She never acknowledged any comments or responded to them. The facts do not support the assumption that she has been selective about her response, because she never did respond to any comments.