WEBVTT - The realities of global manufacturing - and why iPhones will never get made in the US

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<v Speaker 1>Hilda.

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<v Speaker 2>I'm Chelsea Daniels and this is the Front Page, a

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<v Speaker 2>daily podcast presented by The New Zealand Herald. Over the

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<v Speaker 2>last few months or we've been able to talk about

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<v Speaker 2>when it comes to the economy, has been tariffs and

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<v Speaker 2>trade wars behind a lot of what Donald Trump's talk

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<v Speaker 2>has been about is his desire to see more manufacturing

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<v Speaker 2>done in the United States, and that includes everything from

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<v Speaker 2>steel and cars down to smartphones. But how realistic is

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<v Speaker 2>it to demand everything moves production to the US and

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<v Speaker 2>has Trump perhaps touched on a floor in how our

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<v Speaker 2>most popular products are made? Actually on the Front Page,

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<v Speaker 2>we're joined by business desks Deleiper Vonseca to discuss how

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<v Speaker 2>manufacturing actually works. So Deleiper took us through Trump's desire

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<v Speaker 2>to get everything made in the US. What are some

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<v Speaker 2>of the products or materials that he wants made at

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<v Speaker 2>home there?

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<v Speaker 1>Well, he's talked a lot about everything basically, and you've

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<v Speaker 1>actually raised by implication a really good point in there,

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<v Speaker 1>which is to some degree people are kind of wondering

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<v Speaker 1>what Trump is actually trying to do with the tariffs,

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<v Speaker 1>Like is this about relocating a whole bunch of manufacturing

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<v Speaker 1>or is it about raising a whole bunch of money.

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<v Speaker 1>Depending what day it is, it seems to be either

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<v Speaker 1>or answer. But broadly speaking, he had the start, had

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<v Speaker 1>said he was really concerned about all this manufacturing that

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<v Speaker 1>was going to China, and then you know, afterwards we've

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<v Speaker 1>sort of discovered that he's concerned about countries that are

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<v Speaker 1>basically allowing China to continue exporting through them. So you know,

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<v Speaker 1>that's countries like Vietnam and things where exception as China

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<v Speaker 1>is sort of sending goods that are then just getting

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<v Speaker 1>transshipped or it's kind of like a kind of like

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<v Speaker 1>a middleman sort of thing. And then more recently you

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<v Speaker 1>would have seen the memes floating around of Trump Ai

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<v Speaker 1>generated Trump putting together shoes in a switch shop, and

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<v Speaker 1>lots of jokes being made about how Trump is basically

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<v Speaker 1>just trying to get everyone a job in America making shoes.

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<v Speaker 1>He's basically at the start he was talking about high

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<v Speaker 1>value manufacturing that was what somebody wants, so and now

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<v Speaker 1>he's talking more about relocating all manufacturing to the United States.

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<v Speaker 2>Yeah, I mean, why is this such a priority for him?

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<v Speaker 2>What does he hope to gain politically from this pledge?

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<v Speaker 2>I guess the US made mantra is a big one

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<v Speaker 2>for him.

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<v Speaker 1>Yeah, I mean he sees this as like a job,

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<v Speaker 1>you know, when a job opportunity thinks that if he

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<v Speaker 1>goes and moves this manufacturing back, that that's going to

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<v Speaker 1>regenerate some employment. He thinks that there's some kind of

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<v Speaker 1>hostility towards China and that this will represent America being

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<v Speaker 1>kind of more dominant by bringing all this manufacturing back

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<v Speaker 1>into the United States. But actually, the world economy is

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<v Speaker 1>a really different place to what it was, you know,

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<v Speaker 1>post World War Two, or you know, even in kind

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<v Speaker 1>of recent decades. You don't just have one country manufacturing

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<v Speaker 1>one thing. It's actually one product will be a component

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<v Speaker 1>from a whole range of places.

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<v Speaker 2>What is the state of global manufacturing? It does seem

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<v Speaker 2>like basically everything these days is made in China or India.

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<v Speaker 2>Is that fair to say or is that a massive stereotype?

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<v Speaker 1>Well let's think. Let's think of a product, you know,

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<v Speaker 1>the iPhone fourteen, you know, right, so it's a symboled

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<v Speaker 1>in China, so you would say, right, it's manufactured in China.

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<v Speaker 1>It's a that's a Chinese product. Effectively, all these iPhones

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<v Speaker 1>are being manufactured in China, but China actually only produces

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<v Speaker 1>of the iPhone fourteen four percent of the value of

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<v Speaker 1>an iPhone. Right, the actual value of an iPhone, the

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<v Speaker 1>manufactured physical product is not so valuable then tough career

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<v Speaker 1>manufactured you know, twenty five percent of the kind of

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<v Speaker 1>components in there, Japan eleven percent, Taiwan seven percent, and

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<v Speaker 1>the US. In terms of the value of an iPhone,

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<v Speaker 1>it's actually contributing about thirty two percent of the value

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<v Speaker 1>of that iPhone. And if you look at who's making

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<v Speaker 1>the money off selling an iPhone, that's Apple, right, it's

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<v Speaker 1>actually not the manufacturer, you know, the manufacturer. If you're

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<v Speaker 1>talking about fox Con, it's a Taiwanese company in China,

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<v Speaker 1>that factory, and the factory's work is they're earning a wage,

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<v Speaker 1>but they're not making the massive profits that you get

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<v Speaker 1>from an iPhone. The massive profits come from the company

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<v Speaker 1>that's designing it, coming up with the idea and also

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<v Speaker 1>adding a lot of the highest value kind of components

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<v Speaker 1>and software to it. And that is basically still you know,

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<v Speaker 1>an American product in some ways when we talk about

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<v Speaker 1>you know this everything is being manufactured in a particular

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<v Speaker 1>country where it's China or India. That's true that there's

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<v Speaker 1>a lot of industrial sort of manufacturing going on, especially

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<v Speaker 1>not just China, but you know Vietnam and thailandishly some

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<v Speaker 1>of some of those other Southeast Asian countries as well.

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<v Speaker 1>But they are not necessarily contributing all of the value

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<v Speaker 1>of a product, and they don't necessarily control all the

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<v Speaker 1>profits from their product aid.

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<v Speaker 3>And that's not to say that making in China is bad.

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<v Speaker 3>I think made in China is really has changed a

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<v Speaker 3>lot over the years, and some of those factories have

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<v Speaker 3>cutting each technology that you can't find anywhere. It's the

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<v Speaker 3>reason why so many of our designers manufacture in China.

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<v Speaker 3>I think it is quite gyring to see a brand

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<v Speaker 3>that's so world renowned made in these factories. And it

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<v Speaker 3>might be certain categories. For example, you've got the footwear

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<v Speaker 3>in China, but then you've got the ready to wear

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<v Speaker 3>in Paris. So it's kind of like, I think it's

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<v Speaker 3>a good thing. The more the consumers educated, the better

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<v Speaker 3>we are, and it trickles down to how we consume locally.

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<v Speaker 2>Right, really set themselves up to be hubs for production, right,

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<v Speaker 2>So it's not like there's one factory making phones and

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<v Speaker 2>other factory making clothes. There are just hundreds of businesses

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<v Speaker 2>that work cohesively together.

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<v Speaker 1>Yeah, it's like a supply chain of components. And actually,

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<v Speaker 1>in some ways, this is where perhaps if Trump was

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<v Speaker 1>really thinking about it, this is perhaps where the danger

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<v Speaker 1>for America lies in the sense that China over the years,

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<v Speaker 1>you know, it's no longer really the cheapest producer. You know,

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<v Speaker 1>it doesn't have the cheapest laborers, doesn't have the cheapest workers.

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<v Speaker 1>But what it has now because it's been manufacturing the

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<v Speaker 1>iPhone for so long and other other products, it has

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<v Speaker 1>this whole ecosystem of companies. You know, no other sort

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<v Speaker 1>of country really has those small little manufacturers who can

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<v Speaker 1>then feed into the larger manufacturers and can really put

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<v Speaker 1>together a product like that. You know, somebody, there was

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<v Speaker 1>somebody from China recently who, to illustrate the point, pulled

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<v Speaker 1>out their lighter to me and he said, look, you

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<v Speaker 1>know this in one in one place in China, there's

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<v Speaker 1>light where there's lighters manufacturer within two hours or the

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<v Speaker 1>kind of opponent manufacturers of that. Now does that exist

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<v Speaker 1>in some place like New Zealand or the United States?

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<v Speaker 1>Not really? And so if if there was any kind

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<v Speaker 1>of break, diplomatic break, some kind of big issue Taiwan

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<v Speaker 1>or something else, then that would perhaps leave like the

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<v Speaker 1>United States vulnerable in terms of its industrial capacity if

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<v Speaker 1>it needed to manufacture some products.

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<v Speaker 2>You've visited one of these manufacturing areas in India before.

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<v Speaker 1>Hey, yeah, so, Asian New Zealand Foundation Center a group

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<v Speaker 1>of US over to India for a range of related

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<v Speaker 1>to the Raisina dialogues which lux and went and gave

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<v Speaker 1>a speech earlier in this year, and as part of

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<v Speaker 1>that we also went to this I guess you'd call

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<v Speaker 1>it kind of an economic zone, industrial park type arrangement

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<v Speaker 1>called Shri City, which is a huge bit of land

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<v Speaker 1>in the state just north of a next door to

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<v Speaker 1>Tummil Nadu and that area is Tami Nadu, is I

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<v Speaker 1>think India's most industrialized state, the place where Sri City

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<v Speaker 1>is located. That's also where you get the rockets where

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<v Speaker 1>India launches its sort of space missions, so you can

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<v Speaker 1>actually it's written short distance of there. And within this

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<v Speaker 1>kind of harbor there's a sort of free trade zone

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<v Speaker 1>type thing where there's kind of you know, easier sort

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<v Speaker 1>of tariff access for goods that are kind of being

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<v Speaker 1>shipped through, but there's also domestic manufacturing products for different

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<v Speaker 1>types of products, domestic manufacturing facilities, and effectively you we

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<v Speaker 1>saw you know, we went in and we saw kind

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<v Speaker 1>of an in conditioning manufacturer. We we went around the plant.

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<v Speaker 1>There is a fox complant there, but we didn't we

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<v Speaker 1>didn't visit it. And these basically they're kind of in

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<v Speaker 1>some ways putting together a kind of ecosystem there. They've

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<v Speaker 1>got like different manufacturers of things. You know, their conditioner

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<v Speaker 1>manufacturer was talking about how they're drawing on different people

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<v Speaker 1>were located within these areas. But that's a huge investment,

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<v Speaker 1>you know, the and they're just getting started. And in fact,

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<v Speaker 1>you know, when we've when Trump had talked about we

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<v Speaker 1>want to get you have all these products made in

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<v Speaker 1>the United States, or we want to get out of China,

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<v Speaker 1>Apple instantly was like, right, we're gonna send all the

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<v Speaker 1>production to India. But India only recently got up to

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<v Speaker 1>manufacturally about ninety seven percent of the iPhones that itself consumes,

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<v Speaker 1>so if it were to go and do it for

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<v Speaker 1>America would have to wrap up this production even more.

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<v Speaker 2>Well, one company Trump directly called out, and you've already

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<v Speaker 2>said it Apple, he wants them to make their phones

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<v Speaker 2>in the US. I saw one bit of analysis saying

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<v Speaker 2>that it had cost up to three thousand, five hundred

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<v Speaker 2>dollars US if the phones were made there. That's about

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<v Speaker 2>set what's seven a k New Zealand for your phone?

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<v Speaker 2>That's more than I've ever spent. Actually, I'm thinking I've

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<v Speaker 2>ever spent on a car. I think it did get

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<v Speaker 2>us thinking are we relying on cheap labor in Asia

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<v Speaker 2>to make all of our popular products so it doesn't

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<v Speaker 2>get up to three thousand, five hundred dollars.

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<v Speaker 1>I actually don't think that the labory qu is actually

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<v Speaker 1>the most important part of it. I mean China actually

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<v Speaker 1>it installed two hundred and seventy six three hundred robots

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<v Speaker 1>like last year. Yeah, like I said, it's manufacturing now

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<v Speaker 1>is moving into highly automated territory. I think that when

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<v Speaker 1>we think about something like the iPhone, we've got to

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<v Speaker 1>think about, well, we've got our product, and that's the

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<v Speaker 1>product that we're buying, But where's the actual value for

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<v Speaker 1>it for US as a country or as a nation.

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<v Speaker 1>Are we actually ever going to manufacture iPhones in New Zealand? No,

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<v Speaker 1>because then it would really cost like three five hundred

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<v Speaker 1>dollars or four thousand dollars. But if it is, if

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<v Speaker 1>we're able to bring it down by relying on someplace

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<v Speaker 1>where it's maybe more efficient to manufacture these, And that's

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<v Speaker 1>not efficiency isn't only just going to be because of

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<v Speaker 1>the labor. Actually it's going to because of all the

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<v Speaker 1>other producers that are kind.

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<v Speaker 2>Of close by, and they've been doing it for decade.

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<v Speaker 1>Yeah, they've been doing it for a long time. So

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<v Speaker 1>to go rebuild that somewhere else is just going to

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<v Speaker 1>take a lot of money. And you can kind of

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<v Speaker 1>do it. But then suddenly the iPhone is unaffordable for

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<v Speaker 1>a whole bunch of people. So what happens Then people

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<v Speaker 1>might use a Samsung or people might use another ecosystem. Well,

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<v Speaker 1>if you do that, are there certain opportunities that aren't

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<v Speaker 1>open to you? Then if you don't have access to iPhones,

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<v Speaker 1>if it's unaffordable, then does that produce make a whole

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<v Speaker 1>bunch of the Internet now very inaccessible for people? So actually,

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<v Speaker 1>you know, do we get more value out of being

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<v Speaker 1>able to manufacture an iPhone in the country? Do we

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<v Speaker 1>get more value from being able to access some of

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<v Speaker 1>the services that we access on an iPhone or having

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<v Speaker 1>our population being able to access those services.

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<v Speaker 4>We have Apple as you know, it's coming in. And

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<v Speaker 4>I had a little problem with Tim Cooky yesterday. I

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<v Speaker 4>said to him, tell me and my friend I treated

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<v Speaker 4>you very good. You're coming here with five hundred billion dollars.

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<v Speaker 4>But now I hear you're building all over India. I

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<v Speaker 4>don't want your building in India. You can build an

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<v Speaker 4>India if you want to take care of India. Because

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<v Speaker 4>India is the highest, one of the highest tariff nations

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<v Speaker 4>in the world. It's very hard to sell into India,

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<v Speaker 4>and they've offered us a deal. We're basically they're willing

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<v Speaker 4>to literally charge just no tariff, so we go from

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<v Speaker 4>the highest tariff. You couldn't do business in India. We're

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<v Speaker 4>not even a top thirty in India because the tariff

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<v Speaker 4>is so high.

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<v Speaker 2>We've talked here on this podcast before about how TikTokers

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<v Speaker 2>in China were posting videos when the trade war stuff

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<v Speaker 2>started about how cheap some of our most expensive products

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<v Speaker 2>are purely because the factories are all there and they

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<v Speaker 2>can buy things right off the production line. So do

0:12:32.200 --> 0:12:35.560
<v Speaker 2>they quite enjoy having these products made there, do you

0:12:35.640 --> 0:12:39.200
<v Speaker 2>think or is it just a front presented on social media?

0:12:39.840 --> 0:12:42.240
<v Speaker 1>Well, one thing, I should probably say, some of those

0:12:42.280 --> 0:12:46.440
<v Speaker 1>tiktoks can't be one hundred percent surely, Yeah, yeah, yeah,

0:12:46.480 --> 0:12:49.160
<v Speaker 1>I think so. I'm not sure. I'm not sure if

0:12:49.160 --> 0:12:51.000
<v Speaker 1>some of them were real on but some definitely some

0:12:51.040 --> 0:12:53.560
<v Speaker 1>of them were false. So there is that. But to

0:12:53.640 --> 0:12:55.920
<v Speaker 1>your larger point, you know, is this a strategy from

0:12:55.920 --> 0:12:58.160
<v Speaker 1>the Chinese? I think so, Like isn't I think that

0:12:58.240 --> 0:13:02.160
<v Speaker 1>they actually set out to a big manufacturing industrial hub

0:13:02.320 --> 0:13:06.280
<v Speaker 1>and they set out to make components that are important

0:13:06.520 --> 0:13:09.520
<v Speaker 1>for you know, WestEd businesses as well. Theyso wanted to

0:13:09.520 --> 0:13:11.760
<v Speaker 1>be an important part of the global economy, so they

0:13:11.760 --> 0:13:14.760
<v Speaker 1>couldn't just be shut off. So yeah, I mean, I

0:13:14.760 --> 0:13:19.280
<v Speaker 1>guess Jhortly that is a strategy encouraging their industry as

0:13:19.280 --> 0:13:23.360
<v Speaker 1>a strategy, it's not necessarily a cost free sort of

0:13:23.360 --> 0:13:26.120
<v Speaker 1>a strategy. You know, Like we hear a lot about

0:13:26.160 --> 0:13:29.360
<v Speaker 1>the really successful industrial factories, but they are actually a

0:13:29.360 --> 0:13:32.559
<v Speaker 1>whole bunch of factories in China that are struggling. You know,

0:13:32.640 --> 0:13:35.800
<v Speaker 1>there's over capacity, their unemployment rates are kind of going

0:13:35.840 --> 0:13:38.679
<v Speaker 1>high for younger people. There's a whole bunch of overquasity.

0:13:38.760 --> 0:13:40.920
<v Speaker 1>So you know, there's kind of factories there that are

0:13:40.960 --> 0:13:44.439
<v Speaker 1>only capable of manufacturing products that people may not necessarily want.

0:13:44.640 --> 0:13:47.800
<v Speaker 1>And you know they're facing trade restrictions in some countries

0:13:47.840 --> 0:13:53.920
<v Speaker 1>as well, So it's not all of massive benefit to China.

0:13:53.960 --> 0:13:56.040
<v Speaker 1>But I think you're right in terms of you know,

0:13:56.120 --> 0:13:57.640
<v Speaker 1>you were as seeing a bit of strategy there.

0:13:57.640 --> 0:13:59.840
<v Speaker 2>Of course, is there even the demand in the US

0:14:00.040 --> 0:14:02.760
<v Speaker 2>for people to want to work in factories. It sometimes

0:14:02.800 --> 0:14:05.640
<v Speaker 2>feels like Trump thinks we're still live in the nineteen

0:14:05.720 --> 0:14:07.960
<v Speaker 2>twenties and everyone is happy to pop off down to

0:14:08.000 --> 0:14:10.480
<v Speaker 2>their manual labor job, when I think most young people

0:14:10.480 --> 0:14:12.760
<v Speaker 2>today just want to be TikTokers buying cheap leggings.

0:14:13.040 --> 0:14:15.680
<v Speaker 1>Yeah, well, yeah, I mean I think I think that's

0:14:15.760 --> 0:14:19.320
<v Speaker 1>probably pretty fair to some degree. Maybe not TikTokers, but

0:14:19.480 --> 0:14:21.480
<v Speaker 1>maybe they'd like to be the people who are running

0:14:21.520 --> 0:14:24.240
<v Speaker 1>TikTok or something like that, or maybe the people designing

0:14:24.240 --> 0:14:26.120
<v Speaker 1>the TikTok a. This is the whole thing. Right up

0:14:26.200 --> 0:14:29.200
<v Speaker 1>until this point, we've had like this real focus in

0:14:29.280 --> 0:14:32.120
<v Speaker 1>our economy in the US on hell, let's move up

0:14:32.160 --> 0:14:35.120
<v Speaker 1>the value chain. So countries like China, countries like Vietnam,

0:14:35.200 --> 0:14:37.600
<v Speaker 1>they are doing the lower kind of value sort of stuff.

0:14:37.600 --> 0:14:40.400
<v Speaker 1>They're better position for that because they've got lots of

0:14:40.640 --> 0:14:43.840
<v Speaker 1>manual labor, they have, you know, comparatively kind of lower

0:14:43.960 --> 0:14:46.720
<v Speaker 1>levels of education, whereas we can kind of but we

0:14:46.760 --> 0:14:48.240
<v Speaker 1>can move up the value chain. We can be the

0:14:48.240 --> 0:14:50.080
<v Speaker 1>ones who are designing the products, h are coming up

0:14:50.120 --> 0:14:52.720
<v Speaker 1>with the business ideas, and we can you know, we

0:14:52.760 --> 0:14:56.440
<v Speaker 1>can trade you know, you know, our knowledge for their

0:14:56.480 --> 0:15:00.600
<v Speaker 1>sort of their goods or their helping us manufacture. Of course,

0:15:01.120 --> 0:15:04.360
<v Speaker 1>with the breakdown of I guess the international rules based

0:15:04.480 --> 0:15:08.080
<v Speaker 1>order changes in like tarth rates, that becomes tariff rates,

0:15:08.200 --> 0:15:10.960
<v Speaker 1>tariff rules, people not sticking to their words, and naturally

0:15:11.080 --> 0:15:14.000
<v Speaker 1>that then becomes a lot more difficult because part of

0:15:14.000 --> 0:15:15.640
<v Speaker 1>being able to have a supply chain is to be

0:15:15.640 --> 0:15:17.720
<v Speaker 1>able to rely on like that this company is going

0:15:17.800 --> 0:15:19.120
<v Speaker 1>to be able to give you the product in a

0:15:19.120 --> 0:15:19.920
<v Speaker 1>certain period of time.

0:15:20.080 --> 0:15:22.360
<v Speaker 2>So given that it might take a decade or more

0:15:22.400 --> 0:15:25.080
<v Speaker 2>to move some production to the US, and it's all

0:15:25.080 --> 0:15:27.760
<v Speaker 2>going to make things more expensive, do you think it's

0:15:27.840 --> 0:15:28.720
<v Speaker 2>ever going to happen?

0:15:29.280 --> 0:15:31.920
<v Speaker 1>Really, I actually don't think they'll ever move all of it.

0:15:32.320 --> 0:15:34.360
<v Speaker 1>I think that if they move all of it, it's

0:15:34.400 --> 0:15:37.520
<v Speaker 1>going to be very costly, as Trump is sort of discovered.

0:15:37.720 --> 0:15:42.040
<v Speaker 1>You know, don't call them Taco Trump for nothing. Trump

0:15:42.040 --> 0:15:44.760
<v Speaker 1>always chickens out, as they say, and that's you know,

0:15:44.800 --> 0:15:47.080
<v Speaker 1>for some good economic reasons. But I think that there

0:15:47.120 --> 0:15:51.720
<v Speaker 1>is some benefit in countries thinking more deeply about issues

0:15:51.760 --> 0:15:54.880
<v Speaker 1>like resilience and vulnerabilities in their supply chain. I mean,

0:15:54.920 --> 0:15:57.280
<v Speaker 1>I remembering the pandemic talking to a kind of a

0:15:57.320 --> 0:15:59.720
<v Speaker 1>bid manufacturing company and they were talking to me and

0:16:00.040 --> 0:16:03.160
<v Speaker 1>Zealand one actually, and they were talking about how basically

0:16:03.880 --> 0:16:07.160
<v Speaker 1>during the pandemic they actually you know, they manufacture obviously

0:16:07.240 --> 0:16:10.960
<v Speaker 1>the beds here in New Zealand, but is one component

0:16:11.040 --> 0:16:13.760
<v Speaker 1>that's very important for a bid that you actually basically

0:16:13.760 --> 0:16:16.160
<v Speaker 1>could only get from China because China had become the

0:16:16.200 --> 0:16:19.120
<v Speaker 1>sort of mass manufacturer of bed springs. And I think

0:16:19.160 --> 0:16:22.560
<v Speaker 1>they found an alternative in Turkey, but obviously they had

0:16:22.600 --> 0:16:24.640
<v Speaker 1>to scramp around for that that wasn't necessarily something they'd

0:16:24.680 --> 0:16:27.240
<v Speaker 1>thought of before. So I think that you know, people

0:16:27.280 --> 0:16:29.960
<v Speaker 1>like Trump and others in New Zealand who were about

0:16:30.120 --> 0:16:32.240
<v Speaker 1>manufacturing capacity, I think they do have a point in

0:16:32.240 --> 0:16:34.600
<v Speaker 1>the sense that you know, we do have to think

0:16:34.600 --> 0:16:38.360
<v Speaker 1>about resilience. But that doesn't mean that it's wise for

0:16:38.440 --> 0:16:42.000
<v Speaker 1>us to spend a whole bunch of money relocating everything

0:16:42.080 --> 0:16:44.040
<v Speaker 1>to one country, the United States.

0:16:44.400 --> 0:16:46.760
<v Speaker 2>Like how big of an issue is it for someone

0:16:46.880 --> 0:16:50.480
<v Speaker 2>to have to build a bedspring factory in New Zealand.

0:16:50.720 --> 0:16:53.680
<v Speaker 1>Yeah, yeah, exactly, And we wouldn't have a big enough market,

0:16:53.760 --> 0:16:56.520
<v Speaker 1>so any bed springs that we made, we'd basically have

0:16:56.640 --> 0:16:59.080
<v Speaker 1>to ship them off somewhere else find someone to buy them.

0:16:59.320 --> 0:17:02.880
<v Speaker 1>Presumably the next country that's also concerned about this sovereignty

0:17:02.880 --> 0:17:05.040
<v Speaker 1>of their bedsprings is also going to want to have

0:17:05.080 --> 0:17:09.320
<v Speaker 1>a bedspring manufacturing country company. So you know, we have

0:17:09.400 --> 0:17:12.679
<v Speaker 1>to We can't really manufacture everything that we want in

0:17:12.760 --> 0:17:14.720
<v Speaker 1>this country, but that's not only stary bad thing, Like

0:17:14.720 --> 0:17:16.399
<v Speaker 1>we can specialize in things that we're good at.

0:17:16.480 --> 0:17:17.639
<v Speaker 2>Thanks for joining us to Lepa.

0:17:17.840 --> 0:17:18.600
<v Speaker 1>Oh my pleasure.

0:17:22.240 --> 0:17:25.359
<v Speaker 2>That's it for this episode of the Front Page. You

0:17:25.359 --> 0:17:29.200
<v Speaker 2>can read more about today's stories and extensive news coverage

0:17:29.240 --> 0:17:33.240
<v Speaker 2>at enzherld dot co dot nz. The Front Page is

0:17:33.280 --> 0:17:37.040
<v Speaker 2>produced by Ethan Sills and Richard Martin, who is also

0:17:37.200 --> 0:17:41.840
<v Speaker 2>our sound engineer. I'm Chelsea Daniels. Subscribe to the Front

0:17:41.840 --> 0:17:45.479
<v Speaker 2>Page on iHeartRadio or wherever you get your podcasts and

0:17:45.560 --> 0:17:49.160
<v Speaker 2>tune in tomorrow for another look behind the headlines.