This is from the White Paper - UK worst of G7 nations for regional inequality as measured by ratio of richest fifth of council areas to poorest fifth - and thats got worse over past decade in the UK, but in Germany, Belgium, Japan, Spain, Portugal, gap has closed…
This is a related chart from @NIESRorg
… UK inter regional inequality declining last century before going into reverse since 1990s… whereas Germany closes the east-west gap in same time spectacularly…
poor productivity record of UK “core cities” when compared to average…
in UK 10 biggest cities materially less productive than average, compared to France, Spain, NL, Italy etc.
But also in Germany Japan, Korea, those cities are actually more productive than average…
In fact Germany’s core cities are as far above the national average of economic output per worker, as the UK’s are below it… interesting though that UK political geography focusses on towns…
Chicken or egg?
Only 7 of the UK’s 41 subregions reach OECD average of spend on research and development of 2.4%…
The first three bars below have more than half total R&D spend, though this might be partially a tax credit HQ effect
Mobility of workers between regions, esp with maximum GCSE qualifications fell over past two decade from just under 25% to 15%
And for those with degrees from 17% to 10%…
Theories? A8 effect?
Also surprised that in the Levelling Up paper there is no mention I can see of the post Covid change to office use/ home working as a unique opportunity to help change economic geography, spread high paid jobs around the country… etc. would seem to be a golden opportunity.
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it comes down to compute power, who has it, who can fund it…
When I met Sundar Pichai, his particular pride was not at that point Gemini 3, nor YouTube nor latest smartphone…
but its AI Chip, the Tensor Processing Unit, or TPU, Ironwood
2/ this is hugely economic significant.
raw material of the AI boom is compute power offered by those TPU chips, & more commonly now, by Nvidia’s AI chips, when assembled into pods and racks, and supercomputers capable of training AI models and rapid inference… which I saw at the TPU lab:
🚨 Mind blowing interview with Turing award-winning Yoshua Bengio for @BBCNewsnight one of the three founding fathers of AI, is now warning:
“The worst-case scenario is human extinction.”
AI isn’t just risky — it could end us.
1/10 🧵
📺
2. 🤖 He warns that today’s most powerful AIs are already learning to lie, cheat, even blackmail —
because we’ve trained them to win.
Bengio reveals AI's "scary behavior" & self-preservation tendencies. #AI #AISafety #Blackmail
📺
👁️ In chilling experiments, AI lied to a human to get its task done, says Bengio
🤖 blackmailing an engineer after reading in an email it was going to be replaced.
♟️ choosing to hack a computer to win a chess game
US customs messaging note quietly slipped out last night shows that smartphones, the number 1 Chinese export to the US by value last year, exempted from the 125% tariff… alongside chips, processors, wafers, lcd panels, LEDs etc…
8517.13.00.00
Smartphones
US has excluded the single biggest Chinese export, and certainly the most high profile finished good from the tariffs, without publicly announcing it…
Avoiding the very public repricing of IPhones etc across Apple stores, but only in the US….
While obviously smartphones/ iPhones being exempted is big news for now…
Here’s full list of exemptions according to Harmonised US tariff codes that I plugged into its database… lots of semiconductor parts, circuits, processors, solid state storage, flat panel touchscreens 👀
Author of Mar A Lago accord concept that US tariff agenda is basically designed to cause negotiated dollar weakening, (now WH chief economist), gave speech yday which basically suggested that reserve status for dollar was a burden which others might need to “write checks” for
turns on its head the famous description of ex French President then fin minister Valéry Giscard d'Estaing the US enjoyed an “exorbitant privilege” with $ reserve status…
Instead Administration appears to believe this is an exorbitant burden for which US should be remunerated.
It’s part of a narrative that seeks to paint new tariffs (accepted without retaliation) as justifiable payment for burden of strong dollar (eg on US manufacturing exports and jobs)… this new mindset is extremely consequential. The tariffs aren’t going.
President just shared a video on Truth Social saying “Trump
Is purposely CRASHING the market” in order to lower US Treasury yields and the dollar.
The Mar A Lago theory I wrote about two months ago, written by his chief adviser that said tariff chaos would lead to $ deal
Here’s the video…
Dow down another 1000 points…
Obviously RT are not endorsements but why is the President choosing to share this stuff? And if you are another country seeing this, how do you negotiate with this?