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Elon Musk warns China’s economy could overtake US, says Americans must ‘stop punching ourselves in the face’

Tesla CEO Elon Musk said this week that the U.S. must “stop the infighting” in order to be competitive with China, warning that the world’s second-largest economy will someday dwarf America’s output.

“What we’re going to see with China, for the first time that anyone can remember who is alive, is an economy that is twice the size of the U.S., possibly three times the size of the U.S., and it’s going to be very weird living in that world,” Musk told hosts of the “All-In” podcast on Monday evening.

“So, we better stop the infighting in the U.S. and stop punching ourselves in the face. There’s way too much of America punching itself in the damn face, it’s just dumb, and think about, hey, ‘We gotta be competitive here,” Musk continued.

“There’s a new kid on the block that’s going to be two to three times our size. We better step up our game and stop infighting.” 

Tesla CEO Elon Musk speaks in China

Tesla CEO Elon Musk speaks at an opening ceremony for Tesla China-made Model Y program in Shanghai, China January 7, 2020. (REUTERS/Aly Song/File Photo)

The total economic output of the United States was about $23 trillion last year, according to the Bureau of Economic Analysis. China’s GDP, meanwhile, was about $17.1 trillion, according to the nation’s National Bureau of Statistics.

When asked on Monday by “All-In” host Chamath Palihapitiya about how to deal with politics in the workplace, Musk said Americans CEOs should focus on their business.

“The point of a company is to produce useful products and services for your fellow human beings,” Musk said. “It is not some political gathering place.”

Aerial view of Tesla Shanghai Gigafactory at night on October 22, 2021, in Shanghai, China. (VCG/VCG via Getty Images / Getty Images)

Tesla, which is headquartered in Austin, Texas, has extensive operations in China.

Chinese customers purchased about half of the 935,222 vehicles that Tesla sold last year, and Musk has said that he sees China as being responsible for a 25% to 30% of Tesla’s market long term.

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Tesla also became the first foreign automaker to open a factory in China when they broke ground on a giga factory in Shanghai in early 2019.

Some analysts have suggested that Beijing may try to leverage Tesla’s presence in China to manipulate Musk’s anticipated control of Twitter, but the electric vehicle pioneer shot that notion down last week, saying at an event hosted by the Financial Times that he’s seen “no indications to that effect.” – The Associated Press contributed to this report. 

Tesla CEO Elon Musk (C) poses for photos with buyers during the Tesla China-made Model 3 Delivery Ceremony in Shanghai. - Tesla CEO Elon Musk presented the first batch of made-in-China cars to ordinary buyers on January 7, 2020 in a milestone for the company's new Shanghai "giga-factory", but which comes as sales decelerate in the world's largest electric-vehicle market.
Tesla CEO Elon Musk praised the work ethic in China, and said the US needs to forget infighting to compete. 
STR/AFP via Getty Images
  • Elon Musk said the US needs to abandon its political infighting to stay competitive with China.
  • There’s been “way too much of America punching itself in the damn face,” he said on Monday.
  • He lauded China’s work ethic, and said Tesla’s China team works the hardest in the company. – https://www.businessinsider.com/

Elon Musk: Democrats have become party of ‘division & hate’

Musk made the comment in a tweet on Wednesday, stating that he has voted for Democrats in the past, but can no longer do so.

“In the past I voted Democrat, because they were (mostly) the kindness party,” Musk said. “But they have become the party of division & hate, so I can no longer support them and will vote Republican.”

“Now, watch their dirty tricks campaign against me unfold …,” Musk added, also tweeting a popcorn emoji.

Musk’s comments come one day after he made an appearance on the All-In Podcast, stating that he will vote for will vote for Republicans in the upcoming midterm elections.

“I have voted overwhelmingly for Democrats, historically – overwhelmingly. Like I’m not sure, I might never have voted for a Republican, just to be clear,” Musk said. “Now this election, I will.”

Twitter accepted Musk’s offer accepted Musk’s offer to buy the company on April 25, but the social media giant has come under fierce scrutiny by Musk over the company’s true number of spam accounts, which the Tesla CEO thinks is much higher than Twitter claims.

Until Twitter CEO Parag Agrawal provides “proof” that spam accounts make up for less than 5% of Twitters’s overall users, Musk said that the deal is on “hold.”

Elon Musk at MET Gala

Elon Musk attends The Metropolitan Museum of Art’s Costume Institute benefit gala celebrating the opening of the “In America: An Anthology of Fashion” exhibition on Monday, May 2, 2022, in New York.  (Photo by Evan Agostini/Invision/AP / AP Newsroom)

“20% fake/spam accounts, while 4 times what Twitter claims, could be *much* higher. My offer was based on Twitter’s SEC filings being accurate. Yesterday, Twitter’s CEO publicly refused to show proof of <5%. This deal cannot move forward until he does,” Musk tweeted.

FOXNEWS.COM / https://www.businessinsider.com/

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