James Kynge

I'm just interested a little bit in the political context of this.

I mean, you started off by showing us how Apple has been captured by China.

Does China's hold over Apple give China any kind of political influence in Washington or other forms of influence?

What do you think about that?

Fascinating.

Just looking forward a little bit, Patrick, I mean, if we try to think forward maybe a decade or five years or something like that, what hope do you think the rest of the world, I mean, the West, has to loosen China's capture of Apple and other big tech companies, not just Apple?

I mean, in the case of Apple, there is this attempt to get manufacturing going in India and

I've seen various numbers, but there are quite a few iPhones now being made in India.

Do you think that's a long-term strategy?

Do you think it's something that could bear fruit over a five, 10-year timescale?

Or are we basically in a world in which China captures Apple, dominates the supply chain for smartphones for the foreseeable future?

Absolutely.

If I could just have a quick follow-up.

I mean, what kind of geopolitical power does this give China?

I mean, if China's making 45% of the world's manufacturing value added by 2035, was it?

And there's another reference to a scholar calling China the OPEC of intermediate products, because it makes so many of the components that the world needs to make just about everything.

What sort of geopolitical power does that give China going forward?

I mean, does that mean that China can basically hold everybody to ransom, indulge in a bit of economic coercion when it wants to get its way in the world, either politically or in economic matters?

Yeah, I mean, aren't we already seeing that?

Well, I'm going to stick with the renminbi.