Good evening. By now, everyone knows about the Ozempic craze, and you probably won’t be surprised to learn that it’s also hit China. But what’s surprising is the current period of transition in China’s pharmaceutical industry and the challenges facing companies like Novo Nordisk, the maker of Ozempic. Our cover story explains. Elsewhere, we have infographics on China’s path to food security; an interview with Dmitri Alperovitch on the acceleration of efforts to deter China in Taiwan; a story on ASML’s powder keg in China; and an op-ed on Donald Trump’s plans to escalate the US-China trade war. If you haven’t already subscribed to ThreadPlease register here.
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Illustration by Sam Ward
Ozempic Test in China
Novo Nordisk, the maker of Ozempic, has enjoyed a boom in China in recent years, controlling 77% of the market. But that dominance is unlikely to last, and Novo Nordisk’s competitors in China, both domestic and foreign, represent significant changes to the Chinese pharmaceutical scene. Rachel Cheung shares how the balance is shifting.
Chinese researchers check the operation of the 20-story unmanned vertical vegetable farm in Chengdu, China, Dec. 7, 2023. Credits: VCG via AP Images
The Big Picture: The Smart Path to Food Security
China is short on farmland, but companies are looking for new technologies to help them make the most of every acre.
Interview with Dmitri Alperovitch
Dmitri Alperovitch's new book The World on the Brink: How America Can Beat China in the Race to the 21st Century is a clarion call for the United States and its allies to accelerate measures that he believes will deter China from invading Taiwan and reshaping regional and global geopolitics. Born in Russia, Alperovitch came to the United States in 1994 and went on to co-found the cybersecurity firm CrowdStrike, where he served as its CTO until 2020. He has since founded and chairs Silverado Policy Accelerator, a geopolitical think tank based in Washington, D.C. In this week’s interview with Andrew Peaple, he says Xi Jinping is determined to invade Taiwan and that the United States must unite with its allies to win a new Cold War.
Despite export restrictions on the Dutch company's most advanced chip machines, China has become ASML's largest customer, Aaron McNicholas reports.
Former U.S. President Donald Trump addresses attendees of a “Chase the Vote” rally at Dream City Church in Phoenix, Arizona, on June 6, 2024. Credits: Gage Skidmore via Wikimedia Commons
Will Trump escalate the US-China trade war?
In this week's op-ed, Nancy Qian argues that history explains why Donald Trump, if elected, would pursue a policy agenda that would hurt low-income households.
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