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The Machine Wars

American production lags.

LIVE SIGNALS
Global growth nowcast2.60%
AI compute index18%
Yield curve (10Y-2Y)-0.18%
Consumer confidence104.7
CPI (YoY)3.10%

The machine war is upon us, and it is not looking good for the US. The victor will control a critical global market, so competition here will be central to the increasingly hostile US-China relationship.

From the FT:

More than half of all industrial robot installations in the world took place in China in 2022, according to figures from the International Federation of Robotics.
FT