Commerce Secretary Gina Raimondo: The 60 Minutes Interview

Secretary of Commerce Gina Raimondo is focused on U.S. advanced microchip
production — and keeping the chips out of China and Russia.

"60 Minutes" is the most successful television broadcast in history. Offering hard-hitting investigative reports, interviews, feature segments and profiles of people in the news, the broadcast began in 1968 and is still a hit, over 50 seasons later, regularly making Nielsen's Top 10.

[hsingkao]

"We make the most advanced chips..."
"We? You mean Taiwan."
"Fair."
🤣🤣🤣

[mmabouts]

Us in rhode island call Gina Raimondo the wicked witch of rhode island! 😅

[dodgelancer]

August 22, 2024: Secretary of Commerce Gina Raimondo made a fool of herself. The Jobs Report comes from the U.S. Bureau of Labor Statistics. She is supposed to know this. 818, 000 jobs that don't exist is an important issue.

[satriojumeneng]

This is the question you should have asked Gina: "At what price? Can Americans buy American products?"

[eat.melon.qunzhong]

As a Chinese I definitely love Raimondo, and her (and Biden's) sanctions. This forces Chinese company to invest more in R&D, and use more domestic chips.
I've heard many examples like, a manufacturing company used to use US chips, and want to keep importing them to make sure the product quality is stable. Suddenly due to sanction, they have to switch to domestic chips, and found that the quality is not too bad. They then give feedbacks to the chip-manufacturing company, and since both are Chinese companies, the update/upgrade on chips are fast. After a couple of iterations, the domestic chips have on-par or even better quality. Had it no sanctions, the growth of chip manufacturing won't be that fast for China.

[flyinthesky]

We? You mean Taiwan...And have you ever considered why the factories abandoned and moved to China ?

[passby]

In the US news: There's no evidence that China can produce 7nm at scale.
In the mean time in China Huawei returns to no1 smart phone company with mate 60 pro selling well over 10 million units.

[cooleDR]

This lady is very welcome to come to China . She is a suitable advertising spokesperson for China's technological progress

[happymelon]

The main reason U$A will never able to compete in Chip manufacturing.
All the country that do well in chip manufacturing, has Confucianism culture.
For chip manufacturing, a high level of discipline is the key, and most Americans today don't possess it.
They call it “forced labour"
Taiwanese media reported on August 2 that TSMC claimed the production holdup at its Arizona facility was caused by a shortage of trained American labour and that they had sent staff from Taiwan to assist with the factory's development. Labour union officials in Arizona, on the other hand, criticised TSMC for exploiting this as a justification to bring in "low-wage foreign labour."

[padtag]

She is doing free promotions to Chinese tech companies. Thx Raimo

[gtbear]

In fact it's not China grap the business from America, it is the CAPITAL. If you agree...

[corujariousa]

Great interview with a surely well educated and polite professional. So good to see we have people like that still in the government.

[davidwong]

Don’t forget what your fore fathers said . Taiwan is part of China .
And don’t claim you own something when it really isn’t just like the chips from Taiwan .

[RomyHouston-yv]

Thank you for exposing more phenomenal public service employees. We need to know more about these people that commit their careers and lives to truly keeping America Great.

[Wunderpus-photogenicus]

Let's just say that "There's absolutely no cure for jealousy".

[imaprinta]

She was a great student, has all the qualifications, but ... the investment company she started lost millions of dollars of Rhode Islanders' pensions invested in her company. So then she ran for State Treasurer and one of the first things she did was cut pensions for retirees because ... there was little to no money left in the pension funds to pay them. I am a Rhode Islander, I was not a pensioner and was not hurt by any of these decisions, but the job she did as State Treasurer and then Governor was horrible for the working man - but really good for big businesses. (Of course, her replacement seems to be worse)

But she sure can talk a good game!

[KingOfNaraka]

These politicians are so short-sighted. They think denying a political/economic rival, in a short term, from having access to latest computing chips/technologies is a major victory. They are basically forcing a customer to become a direct competitor. This is going to hurt American companies like Intel, AMD, nVidia, Microsoft, etc, in a long run. Chinese market represents anywhere from 15% to 40% of their profits, according to their financial reports. Denying China from buying from these companies also means denying these companies from making money in Chinese market. It's unlikely that these companies will ever get back their Chinese market share again now that China are forced to focus on producing domestic alternatives to these companies. Sure, Chinese computer chips are behind for now in terms of performance, but in 5 to 10 ten years they will likely achieve parity, given the history on how quick they caught up with the West in other fields. Even chip fabricators like Taiwan's TSMC and South Korea's Samsung will suffer the same fate. These companies will not only lose a huge customer, but they will gain a fierce direct competitor long term.

[jasons]

When Commerce becomes part of national security, consumers will not able to get affordable products such as $20k electrical vehicles and $50 solar panels. Who in the government speaks for average consumers?

[antoniorocha]

She was fully humiliated the day when Huawei launch their own 5G capability mobile phone. She was still talking technology section to China 😂😂😂

[tundravgeorgia]

I’m not a democrat but I like her . Great job❤ love her story