Derisky Business

How ASML Came to Dominate Chipmaking

NRC Media reporter Marc Hijink joined co-host Emily Kilcrease at a CNAS event to discuss his book, Focus: The ASML Way. For decades, ASML - the most valuable technology company in Europe - operated in the shadows, despite the fact that roughly 90 percent of all chips worldwide are made with ASML’s machines. In recent years, the Dutch manufacturing company has found itself at the center of a geopolitical storm between China and the United States and Europe. In this conversation, we delve into the history of the company, how it came to dominate the industry, and how it is navigating increasingly fraught geopolitical waters.

Geopolitical doomscrolling

Geoff and Emily talk about the tensions between social media platforms and governments around the world, including Telegram’s troubles in France and X’s spats with Brazil and Europe. Carrie Cordero, CNAS General Counsel and Robert M. Gates Senior Fellow, joins to talk TikTok and why it’s so complicated to ban the app in the United States.  
Carrie Cordero is the Robert M. Gates Senior Fellow and General Counsel at CNAS. Her research and writing interests focus on homeland security and intelligence community oversight, transparency, surveillance, cybersecurity, and related national and homeland security law and policy issues.

Economic Security in Asia Part 3: The View From Australia with Mike Green

On this international episode of Derisky Business, recorded at the United States Studies Center in Sydney, Australia, Dr. Mike Green joins the podcast to discuss how Australia and other Pacific countries view economic security issues, what countries in the region think about the U.S. presidential election, and how he is preparing for armageddon.
Mike’s Recommended Reading/Listening: Planning Armageddon: British Economic Warfare and the First World War, The Empire Podcast
 

Economic Security in Asia Part 2: The Pivot to Asia with Richard Fontaine

Richard Fontaine, CEO of the Center for a New American Security, joins Emily and Geoff to discuss his new book, co-authored with Robert Blackwill, Lost Decade: The US Pivot to Asia and the Rise of Chinese Power, and his fever dreams for a trade agreement in Asia.
 
Richard Fontaine is the Chief Executive Officer of the Center for a New American Security. Prior to coming to CNAS, he was foreign policy advisor to Senator John McCain and worked at the State Department, the National Security Council, and on the staff of the Senate Foreign Relations Committee.  
 
Richard's recommended reading
Lost Decade: The U.S. Pivot to Asia and the Rise of Chinese Power by Richard Fontaine and Robert Blackwill
The Rise and Fall of the Economic Pivot to Asia by Richard Fontaine and Robert Blackwill
The Price of Nostalgia, Adam Posen
Fundamentals: Ten Keys to Reality by Frank Wilczek
 

Economic Security in Asia Part 1: China's growing pains with Dan Rosen

Dan Rosen, leading expert on China's economy and head of the Rhodium Group's China practice, joins Emily and Geoff to talk about the recently concluded third plenum meetings in China, what China's economy wants to be when it grows up, and the impacts of China's economic downturn on U.S.-China relations.
Emily Kilcrease is senior fellow and program director in the Energy, Economics, & Security Program at the CNAS. Her research focuses on economic statecraft and economic security.
Geoff Gertz is senior fellow in the Energy, Economics, & Security Team at the Center for a New American Security. His research focuses on technology competition, digital policy and data governance, and geoeconomics.
Read new research from the CNAS Energy, Economics & Security team:
 
Sanctions by the Numbers: 2023 Year in Review
 
Disorderly Conduct: How U.S.-China Competition Upended the International Economic Order & What the U.S. Can Do to Fix It
Dan's Recommended Reading: Forging a Positive Vision of Economic Statecraft by Daleep Singh.

What a Bunch of Malarkey!

Emily and Geoff discuss the U.S. presidential election and what that might mean for economic security policy. They get into trade policy, what both candidates would do to compete with China, and where U.S. partners and allies fit in to both candidates' vision.
 
Emily Kilcrease is senior fellow and program director in the Energy, Economics, & Security Program at the CNAS. Her research focuses on economic statecraft and economic security.
Geoff Gertz is senior fellow in the Energy, Economics, & Security Team at the Center for a New American Security. His research focuses on technology competition, digital policy and data governance, and geoeconomics.
Read new research from the CNAS Energy, Economics & Security team:
 
Sanctions by the Numbers: 2023 Year in Review
 
Disorderly Conduct: How U.S.-China Competition Upended the International Economic Order & What the U.S. Can Do to Fix It

BONUS | How U.S.-China Competition Upended the International Economic Order and What the United States Can Do to Fix It

On June 26, CNAS hosted an event to discuss a new report, Disorderly Conduct: How U.S.-China Competition Upended the International Economic Order and What the United States Can Do to Fix It. Report authors shared key findings and recommendations on how to delineate a new economic strategic framework toward China that serves both the security and commercial interests of the United States. The conversation also featured Peter Harrell, Nonresident Scholar for the American Statecraft Program at the Carnegie Endowment for International Peace.  
Peter Harrell is a Nonresident Scholar for the American Statecraft Program at the Carnegie Endowment for International Peace.  
Emily Kilcrease is senior fellow and program director in the Energy, Economics, & Security Program at the CNAS. Her research focuses on economic statecraft and economic security.
Geoff Gertz is senior fellow in the Energy, Economics, & Security Team at the Center for a New American Security. His research focuses on technology competition, digital policy and data governance, and geoeconomics.
Adam Tong is associate fellow in the Energy, Economics, & Security Team at the Center for a New American Security. His research focuses on U.S. - China economic competition, China's economic statecraft, and sanction resilience.

How to regulate smart, not dumb, with Alan Estevez.

This week, Under Secretary of Commerce Alan Estevez joins Derisky Business to talk tech competition with China, how Russia can still get western chips, and why our cars might all be spying on us.
 
Emily Kilcrease is senior fellow and program director in the Energy, Economics, & Security Program at the CNAS. Her research focuses on economic statecraft and economic security.
Geoff Gertz is senior fellow in the Energy, Economics, & Security Team at the Center for a New American Security. His research focuses on technology competition, digital policy and data governance, and geoeconomics.
Alan F. Estevez serves as the Under Secretary of Commerce for Industry and Security.  As Under Secretary, Mr. Estevez leads the Bureau of Industry and Security, which advances U.S. national security, foreign policy, and economic objectives by ensuring an effective export control and treaty compliance system and promoting U.S. strategic technology leadership.
Alan's Recommended Reading: Chip War: The Fight for the World's Most Critical Technology by Chris Miller and No Winners in this Game by Emily Kilcrease.

The Biden Administration's Economic Security Agenda with Daleep Singh

On this special live-recorded episode from the 2024 CNAS National Security Conference, Emily Kilcrease talks with Daleep Singh, Deputy National Security Advisor for International Economics, about what to expect from the G7 leaders' summit, using frozen Russian assets to finance Ukraine's resistance, the role of sanctions in targeting China's material support to Russia, and China's broader geoeconomic ambitions.
Emily Kilcrease is Senior Fellow and Program Director in the Energy, Economics, & Security Program at CNAS. Her research focuses on economic statecraft and economic security.
Daleep Singh is Deputy National Security Advisor for International Economics at the White House.

Everyone Loves Tariffs!

Welcome to Derisky Business! On this episode, we discuss the Biden Administration’s recent tariffs on Chinese electric vehicles, batteries, solar panels, and other goods. Diving into the arguments for and against tariffs, the episode explores the reasoning behind targeting these specific goods and the implications on domestic and international markets. Looking ahead, we analyze what new and old tariffs mean for the U.S.-China economic relationship at large, potential Chinese retaliation, the green transition, and a new geoeconomic status quo.
Emily Kilcrease is senior fellow and program director in the Energy, Economics, & Security Program at the CNAS. Her research focuses on economic statecraft and economic security.
Geoff Gertz is senior fellow in the Energy, Economics, & Security Team at the Center for a New American Security. His research focuses on technology competition, digital policy and data governance, and geoeconomics.
Adam Tong is associate fellow in the Energy, Economics, & Security Team at the Center for a New American Security. His research focuses on U.S. - China economic competition, China's economic statecraft, and sanction resilience.