(PresidentialInsider.com)- Musk warned Monday about China’s rising economic power and how the U.S. can remain competitive.
The world’s richest man said Americans must “stop the infighting” amid China’s growing hegemony.
For the first time in living memory, China could very well have an economy twice as large as the U.S., possibly three times as large, Musk told Fox Business. So, stop the U.S. infighting and self-punching. Too much of America punching itself in the face is dumb; we must be competitive.
Currently, the US has the world’s largest economy, producing $23 trillion last year. China’s $17.7 trillion economy and 10% annual GDP growth since 1978 continue to draw the attention of Western businesses.
Musk urged American companies to avoid political controversies as China rises. He said that a company’s purpose is to help others. It’s not a political hub.
Musk has criticized American companies’ efforts to become more “socially conscious,” including Environmental, Social, and Governance (ESG), an investment and management philosophy that promotes progressive causes while also trying to maximize shareholder returns.
When software entrepreneur Marc Andreessen criticized ESG funds’ willingness to make the weapons required to fight wars with hostile regimes we buy energy from, Musk said that ESG rules had been twisted into insanity.
Musk, an independent voter, will support Republican candidates. Musk has historically voted for Democrats. But the billionaire has criticized Joe Biden. Musk called out Biden’s decision to ignore Tesla in favor of Ford and GM’s electric vehicle ventures during the March State of the Union address.
“Ford is investing $11 billion to build electric vehicles, creating 11,000 jobs,” Biden tweeted after the SOTU. GM’s $7B investment in electric vehicles will create 4,000 jobs in Michigan.
The billionaire entrepreneur responded, saying that Tesla had created over 50,000 US jobs building electric vehicles & is investing more than double GM + Ford combined.
Musk has a lot to say if only the left would listen.