闻泰科技拒绝剥离安世半导体：一场23亿美元的芯片控制权之争｜
字幕摘录
| 时间 | 英文 | 中文 |
|---|---|---|
| 0:00 | Imagine buying a huge global tech company. | 想象一下,买一个巨大的全球技术公司。 |
| 0:02 | You pay billions of dollars, right? | 你付了几十亿美元,对吧? |
| 0:04 | Right, a massive investment. | 对,一个巨大的投资。 |
| 0:05 | Yeah, and you run it successfully for seven years. | 是啊,你成功运行了七年。 |
| 0:09 | But then you wake up one morning to a total shock. | 但有一天早上你醒来时 惊呆了 |
| 0:13 | A very bad morning. | 一个非常糟糕的早晨。 |
| 0:14 | Exactly. | 没错 |
| 0:15 | A foreign government has just, well, seized the company. | 一个外国政府刚刚没收了公司 |
| 0:20 | They lock you out and they want to take away | 他们把你锁在外面,想带走 |
| 0:23 | your entire global business. | 你的整个全球事务。 |
展开字幕全文（337 条）
| 序号 | 英文 | 中文 |
|---|---|---|
| 1 | Imagine buying a huge global tech company. | 想象一下,买一个巨大的全球技术公司。 |
| 2 | You pay billions of dollars, right? | 你付了几十亿美元,对吧? |
| 3 | Right, a massive investment. | 对,一个巨大的投资。 |
| 4 | Yeah, and you run it successfully for seven years. | 是啊,你成功运行了七年。 |
| 5 | But then you wake up one morning to a total shock. | 但有一天早上你醒来时 惊呆了 |
| 6 | A very bad morning. | 一个非常糟糕的早晨。 |
| 7 | Exactly. | 没错 |
| 8 | A foreign government has just, well, seized the company. | 一个外国政府刚刚没收了公司 |
| 9 | They lock you out and they want to take away | 他们把你锁在外面,想带走 |
| 10 | your entire global business. | 你的整个全球事务。 |
| 11 | So welcome to the Deep Dive. | 欢迎来到深渊 |
| 12 | Thanks for having me. | 谢谢你邀请我 |
| 13 | This story really shows how messy the modern tech | 这个故事真的显示了现代科技的混乱 |
| 14 | world is right now. | 世界就是现在。 |
| 15 | It really does. | 确实 |
| 16 | Today, we are looking at a huge standoff over microchips. | 今天,我们正在面对微芯片的巨大僵局。 |
| 17 | It is worth about $2.3 billion. | 价值约23亿美元。 |
| 18 | Yeah, billions. | 是啊,数十亿。 |
| 19 | We have a major Chinese tech company on one side, | 我们有一个主要的中国科技公司 |
| 20 | and we have the Dutch government on the other side. | 我们让荷兰政府在另一边 |
| 21 | Right, they are fighting over who controls | 对,他们在争夺谁控制 |
| 22 | this microchip manufacturing. | 这个微型芯片制造。 |
| 23 | It involves multiple countries and just the future | 它涉及多个国家,也涉及未来 |
| 24 | of global supply chains. | 全球供应链。 |
| 25 | Before we jump in, we do need to set some ground | 跳进去之前,我们得先打个地盘 |
| 26 | rules for you, the listener. | 规则为你,听者。 |
| 27 | We are looking at recent reporting today | 我们今天正在研究最近的报告 |
| 28 | from the South China Morning Post. | 南华早报网. |
| 29 | Important to note. | 这点很重要 |
| 30 | Yeah. | 对 |
| 31 | Because this involves intense international politics, | 因为这涉及到激烈的国际政治, |
| 32 | our mission today is not to pick a side, not at all. | 我们今天的任务不是挑一面,根本不是。 |
| 33 | We are simply reporting the facts, the claims, | 我们只是报告事实和声称 |
| 34 | and the timeline exactly as they appear in our source material. | 以及我们源材料中出现的时间 |
| 35 | I mean, that is the best approach. | 我的意思是,这是最好的方法。 |
| 36 | We just want to look at the mechanics of this fight. | 我们只想看看这场战斗的力学 |
| 37 | We want to show you what both sides are doing. | 我们想告诉你双方在做什么。 |
| 38 | OK, so let's unpack this. | 好,我们把这个拆开 |
| 39 | We have major breaking news today. | 我们今天有重大突发事件 |
| 40 | Today is November 5th, 2026. | 今为2026年11月5日. |
| 41 | Yes, very fresh news. | 是的,非常新鲜的消息。 |
| 42 | A massive Chinese tech company named WingTech Technology | 一个叫WingTech技术的大型中国科技公司 |
| 43 | just made a really loud announcement. | 刚刚做了一个非常响亮的宣布。 |
| 44 | Their stock is trading in Shanghai, by the way. | 顺便说一句,他们的股票在上海交易. |
| 45 | And their announcement today was a flat rejection. | 他们今天的宣布是拒绝的 |
| 46 | They completely refused a new restructuring plan. | 他们完全拒绝新的改组计划。 |
| 47 | 没错,2018年WingTech买下了 | |
| 48 | a Dutch microchip maker. | 荷兰的微芯片制造商 |
| 49 | 该公司名为Nexperia. | |
| 50 | WingTech spent a ton of money to own this global business. | WingTech花了一大笔钱来拥有这个全球业务. |
| 51 | But this new plan would basically | 但这个新计划基本上 |
| 52 | rip that control right away. | 立刻撕开控制器 |
| 53 | Exactly. | 没错 |
| 54 | The new administrators running Nexperia offered a deal. | 管理Nexperia的新任行政官提出了一个协议。 |
| 55 | They call it the Two Circles Restructuring Plan. | 他们称之为"两圈重组计划". |
| 56 | And WingTech looked at it and said, absolutely not. | 而WingTech看着它说,绝对不是。 |
| 57 | So we need to explain this Two Circles idea. | 所以我们需要解释这个"两圈"的想法. |
| 58 | How does this actually work? | 这到底是怎么回事? |
| 59 | Well, imagine drawing two circles on a map of the world. | 想象一下在地图上画两个圈子 |
| 60 | OK, two circles. | 好吧,两圈。 |
| 61 | The first circle only covers China. | 第一圈只覆盖中国. |
| 62 | The second circle covers the entire rest of the globe. | 第二圈覆盖整个地球的其余部分. |
| 63 | Right. | 对 |
| 64 | Under this plan, WingTech only gets | 根据这个计划,WingTech只能得到 |
| 65 | to keep control of operations inside that first circle. | 控制第一圈内的行动 |
| 66 | They only get the factories inside China. | 他们只把工厂带到中国 |
| 67 | So WingTech just loses the second circle completely. | 因此WingTech只是完全失去了第二圈. |
| 68 | Yes. | 对 |
| 69 | An outside investor would take over the global business. | 外部投资者将接管全球业务。 |
| 70 | WingTech会变成小股东 | |
| 71 | outside of China. | 在中国境外。 |
| 72 | Wow. | 珃 |
| 73 | It is easy to see why WingTech is furious. | 很容易看出WingTech为什么会生气 |
| 74 | They actually call this plan an expropriation. | 他们实际上称这个计划为征用. |
| 75 | That is a strong word. | 这个词很有力。 |
| 76 | It is. | 没错 |
| 77 | In plain English, expropriation means a government | 普通英语中,征用是指政府 |
| 78 | or authority taking away your private property. | 或当局夺走你的私人财产。 |
| 79 | WingTech说管理员歧视 | |
| 80 | against Chinese investors. | 对抗中国投资者. |
| 81 | Yeah, they feel the authorities never even tried | 是的,他们觉得当局从来没有尝试过 |
| 82 | 让WingTech保持控制 | |
| 83 | They say the system is rigged. | 他们说系统被操纵了 |
| 84 | But they do still want to negotiate, right? | 但他们还是想谈判,对吧? |
| 85 | Yes, they want a fair deal. | 是的 他们想要公平交易 |
| 86 | But they refuse to be pushed out of the global market. | 但他们拒绝被赶出全球市场。 |
| 87 | This plan reminds me of a specific situation. | 这个计划让我想起一个具体情况. |
| 88 | It is like you buy a whole house. | 这就像你买一整栋房子。 |
| 89 | You pay for it. | 汝为报应. |
| 90 | OK. | 摆 |
| 91 | You live there for years. | 你在那里生活了好几年了。 |
| 92 | Then the city steps in and says, actually, you | 然后城市走进来说,实际上,你 |
| 93 | can only live in the kitchen now. | 现在只能住在厨房里了 |
| 94 | Right, just the kitchen. | 对,只是厨房 |
| 95 | And a total stranger gets the rest of the house, | 一个陌生人得到了房子的其余部分, |
| 96 | even though you bought the whole thing. | 即使你买了整件事。 |
| 97 | That is a perfect analogy. | 这是一个完美的类比。 |
| 98 | WingTech为全球网络付费. | |
| 99 | If you cut off the international side, | 如果你切断国际方面 |
| 100 | you would destroy the value of what they bought. | 你会毁掉他们买的东西的价值 |
| 101 | This brings us to a really huge question for this deep dive. | 这给我们带来了一个非常大的问题 对于这个深度潜水。 |
| 102 | Why is this happening? | 为什么这样? |
| 103 | Why is an outside administrator forcing | 为什么一个外部管理员强迫 |
| 104 | this plan on a company WingTech already bought? | 这个计划是WingTech公司买的? |
| 105 | To answer that, we have to go back to September of last year, | 为了回答这个问题 我们必须回到去年9月 |
| 106 | September 2025. | 2025年9月通车. |
| 107 | What happened then? | 发生什么事了? |
| 108 | The Dutch government suddenly stepped in. | 荷兰政府突然介入. |
| 109 | 他们控制了Nexperia,公司 | |
| 110 | headquartered in the Dutch city of Nijmegen, by the way. | 顺便说一句,总部位于荷兰城市尼梅根. |
| 111 | They just seized a massive private company? | 他们刚刚查封了一家大型私人公司? |
| 112 | Like, what was their legal reason? | 比如说,他们的法律理由是什么? |
| 113 | They cited national security concerns. | 他们提到了国家安全关切。 |
| 114 | They stated that Chinese ownership of this chipmaker | 他们说中国人拥有这个芯片制造厂 |
| 115 | was a direct threat to their country. | 直接威胁到他们的国家。 |
| 116 | So they just took it. | 所以他们就拿走了 |
| 117 | Yeah, they intervened to protect national interests. | 是啊,他们介入保护国家利益。 |
| 118 | And that single event is the root cause | 而那个单一的事件是根本原因 |
| 119 | of everything happening today. | 今天发生的一切 |
| 120 | It forced the company apart. | 这迫使公司分崩离析。 |
| 121 | OK, wait, I have to push back on this timeline. | 好吧,等等,我必须推回这个时间表。 |
| 122 | Sure. | 当然 |
| 123 | WingTech于2018年末收购了Nexperia. | |
| 124 | The Dutch government seized control in late 2025. | 2025年末荷兰政府夺取了控制权. |
| 125 | That is a seven year gap. | 这是一个7年的差距。 |
| 126 | I know, you are highlighting the craziest part of the story. | 我知道你在强调故事中最疯狂的部分 |
| 127 | Seven years is an absolute eternity in the tech sector. | 7年是技术部门的绝对永恒。 |
| 128 | Exactly. | 没错 |
| 129 | WingTech managed this Dutch company for seven whole years. | WingTech全年管理这家荷兰公司7年. |
| 130 | They ran the factories, they sold the chips, | 他们经营工厂,卖薯片 |
| 131 | and they did all of this without the government stopping them. | 他们做了这一切 政府没有阻止他们。 |
| 132 | Right, for years it was totally fine. | 对,几年来一切都很好 |
| 133 | Then suddenly it is a national security emergency. | 然后突然发生了国家安全紧急情况。 |
| 134 | That is a huge shock to the business world. | 这是对商业界的巨大冲击。 |
| 135 | And that long delay is why this situation is such a mess now. | 而这种长时间的拖延,正是这种局面现在如此混乱的原因. |
| 136 | 七年来,WingTech完全融合了Nexperia | |
| 137 | into its own systems. | 进入自己的系统。 |
| 138 | They're tangled together. | 他们被缠在一起。 |
| 139 | Completely. | 完全没有。 |
| 140 | When the Dutch government finally dropped the axe, | 当荷兰政府终于放下斧头时, |
| 141 | they could not just cleanly separate the business. | 他们不能把生意彻底分开 |
| 142 | No, you cannot just untangle seven years of business | 不,你不能随便找七年的生意 |
| 143 | operations overnight. | 夜间操作。 |
| 144 | And because they cannot agree on a split, | 因为他们不能同意分钱 |
| 145 | it has exploded into a massive legal war. | 它已经爆发成一场大规模的法律战争。 |
| 146 | A cross-border legal war, yeah. | 跨越国界的法律战争,是的。 |
| 147 | We have two giant lawsuits happening right now | 我们现在有两宗大诉讼 |
| 148 | in two different countries. | 在两个国家。 |
| 149 | Let's look at the Dutch lawsuit first. | 先看荷兰官司. |
| 150 | This is in the Amsterdam District Court. | 这是在阿姆斯特丹地区法院。 |
| 151 | Nexperia在这里非常凶猛 | |
| 152 | They are suing WingTech, its founder, Zeng Xue Zeng, | 他们正在起诉WingTech,他的创始人曾薛曾, |
| 153 | and several Chinese branches. | 和几个中国分支。 |
| 154 | They want a staggering amount of money, too. | 他们也想要一大笔钱 |
| 155 | Nexperia想要20亿欧元. | |
| 156 | That is about 2.3 billion US dollars. | 这大约是23亿美元。 |
| 157 | It is a massive demand. | 这是一个巨大的需求。 |
| 158 | So what is their argument? | 他们有什么争论? |
| 159 | Why do they think WingTech owes them $2 billion? | 他们为什么认为WingTech欠他们20亿美元? |
| 160 | Nexperia声称WingTech造成了巨大的经济损失. | |
| 161 | They say WingTech secretly broke away the Chinese operations | 听说WingTech秘密打散了中国的行动 |
| 162 | to build an independent supply chain. | 建立独立的供应链。 |
| 163 | Just for China. | 只为中国. |
| 164 | Yes. | 对 |
| 165 | And splitting a supply chain is a huge job. | 分拆供应链是一项巨大的工作。 |
| 166 | You must build exact copies of advanced factories. | 你必须建立精确的先进工厂。 |
| 167 | You have to separate computer code. | 你必须分开计算机代码。 |
| 168 | It sounds incredibly complicated. | 这听起来非常复杂。 |
| 169 | It is. | 没错 |
| 170 | Nexperia声称WingTech悄悄地做了这件事. | |
| 171 | Now Nexperia says their global side is ruined. | 现在Nexperia说,他们的全球一面被破坏。 |
| 172 | If WingTech took the Chinese factories, | 如果WingTech占领了中国的工厂 |
| 173 | the global business cannot make its products. | 全球企业无法生产产品。 |
| 174 | So they sue for $2.3 billion. | 所以他们起诉23亿美元。 |
| 175 | But WingTech fired right back, didn't they? | 但是WingTech开枪反击了 不是吗? |
| 176 | Oh, yes. | 对 |
| 177 | WingTech将战斗带回家. | |
| 178 | They filed a huge lawsuit in the Dongguan Intermediate People's | 他们向东莞市中级人民法院提起了重大诉讼 |
| 179 | Court in China. | 中国法院. |
| 180 | So they are counter-suing Nexperia. | 所以他们是反苏恩斯珀里亚。 |
| 181 | And they are personally suing three of Nexperia's top | 他们正在亲自起诉Nexperia的三位头目 |
| 182 | executives, too. | 执事也. |
| 183 | And they want 8 billion yuan. | 他们想要80亿人民币。 |
| 184 | That is about $1.2 billion US dollars. | 大约12亿美元。 |
| 185 | Both sides want billions. | 双方都想要数十亿. |
| 186 | But the Chinese court just escalated things | 但中国的法庭却升级了 |
| 187 | this past Monday. | 这是上周一。 |
| 188 | They absolutely did. | 他们绝对做到了。 |
| 189 | The court issued a sweeping asset freeze. | 法院发布全面资产冻结令。 |
| 190 | Against Nexperia. | 反对内斯佩里亚。 |
| 191 | Yes, against Nexperia's Dutch entities | 是的,反对Nexperia的荷兰实体 |
| 192 | and the named executives. | 和有名的行政主管 |
| 193 | We should explain what an asset freeze actually does. | 我们应解释资产冻结的实际作用。 |
| 194 | 这对Nexperia有什么影响? | |
| 195 | Well, it basically paralyzes them in China. | 基本上它们在中国麻痹了。 |
| 196 | The court locks down their property. | 朝廷封其财物. |
| 197 | They cannot sell shares. | 他们不能卖股票。 |
| 198 | They cannot move real estate. | 他们不能移动房地产。 |
| 199 | So their money is just trapped. | 所以他们的钱被困住了 |
| 200 | Totally trapped. | 完全被困住了 完全被困住了 |
| 201 | They cannot transfer money out of Chinese banks. | 他们不能从中国银行转移资金。 |
| 202 | It forces the business to a sudden stop. | 这迫使企业突然停业. |
| 203 | You cannot pay suppliers if a judge freezes your bank account. | 如果法官冻结了你的银行账户 你就不能付钱给供应商 |
| 204 | This is just total chaos. | 这只是完全混乱。 |
| 205 | Two courts, two continents, freezing assets across borders. | 两个法院,两个大陆, 冻结资产跨界。 |
| 206 | It is a legal nightmare. | 这是一个法律上的噩梦。 |
| 207 | These international lawsuits are so slow. | 这些国际诉讼如此缓慢. |
| 208 | The courts in Amsterdam and Dongguan could fight for years. | 阿姆斯特丹和东莞的法院可以打好几年. |
| 209 | But wing tech does not have years, right? | 但是机翼技术没有几年,对吧? |
| 210 | They are on a very strict deadline. | 他们的最后期限非常严格。 |
| 211 | Yes. | 对 |
| 212 | A massive financial clock is ticking for wing tech. | 一个巨大的金融时钟 正在等待翼技术。 |
| 213 | The legal fight is slow. | 法界辩才慢. |
| 214 | But the financial danger is moving fast. | 但金融危险正在迅速发展。 |
| 215 | The danger really started showing in April. | 4月危险开始显现 |
| 216 | What happened with their auditors? | 他们的审计员怎么了? |
| 217 | Every public company needs independent auditors. | 每个公营公司都需要独立的审计员。 |
| 218 | These accountants check the math to protect investors. | 这些会计师检查数学以保护投资者. |
| 219 | But in April, wing tech's auditors | 但是在四月份, 机翼技术的审计员 |
| 220 | issued a disclaimer of opinion. | 发表意见书。 |
| 221 | What does that mean in simple English? | 简单的英语是什么意思? |
| 222 | It means the auditors had to give up. | 这意味着审计员必须放弃。 |
| 223 | They simply could not verify the company's math. | 他们根本无法验证公司的数学 |
| 224 | Why did they fail? | 为什么他们失败了? |
| 225 | Who stopped them? | 谁阻止了他们? |
| 226 | They were blocked by the Dutch takeover. | 他们被荷兰的收购所阻挡. |
| 227 | The Chinese auditors needed to check | 中国审计师需要检查 |
| 228 | and experience global financial records. | 并体验全球财务记录。 |
| 229 | Right. | 对 |
| 230 | Bank statements and factory data. | 银行对账单和工厂数据. |
| 231 | Exactly. | 没错 |
| 232 | But the new Dutch administrators refused | 但新的荷兰行政官拒绝了 |
| 233 | to let the Chinese accountants see the books. | 让中国会计师看书 |
| 234 | Because the Dutch government seized the company, | 因为荷兰政府没收了公司 |
| 235 | the data connection was broken. | 数据连接中断 。 |
| 236 | The Chinese auditors were just flying blind. | 中国审计师只是盲目飞行. |
| 237 | Yes. | 对 |
| 238 | So in May, the Shanghai Stock Exchange | 5月,上海证券交易所 |
| 239 | gave wing tech a very serious warning. | 给机翼技术一个非常严重的警告。 |
| 240 | The stock market rules are strict. | 股市规则严格. |
| 241 | If you cannot prove the money is real, | 如果你不能证明钱是真的 |
| 242 | the exchange has to act. | 交换必须行动。 |
| 243 | They gave wing tech a hard deadline. | 他们给机翼技术一个艰难的期限。 |
| 244 | Fix this audit problem by April 2027, or get delisted. | 2027年4月前解决这一审计问题,否则除名. |
| 245 | Delisted. | 除名. |
| 246 | Let's make sure we define that. | 让我们确定我们的定义。 |
| 247 | It means they'll be kicked off the stock market. | 这意味着他们会被踢出股票市场。 |
| 248 | Right. | 对 |
| 249 | People cannot easily buy or sell their shares anymore. | 人们无法轻易地购买或出售自己的股份。 |
| 250 | The company loses its public funding. | 公司失去公共资金. |
| 251 | This is so fascinating. | 这太迷人了 |
| 252 | The Dutch government took action in Europe | 荷兰政府在欧洲采取了行动 |
| 253 | for their own security. | 他们的安全。 |
| 254 | Yep. | 对 |
| 255 | But the shockwave went across the globe. | 但冲击波横跨全球. |
| 256 | A Dutch security policy might literally | 荷兰的安全政策实际上可能 |
| 257 | destroy a major public Chinese company. | 摧毁中国一家大型公营公司。 |
| 258 | You just cannot isolate the damage anymore. | 你只是不能隔离 损害了。 |
| 259 | The systems are too connected. | 系统连接得太紧了。 |
| 260 | So this is not just a corporate fight now. | 所以这不仅仅是一场企业斗争。 |
| 261 | It is a state-level crisis. | 这是一个国家一级的危机。 |
| 262 | The politicians finally have to step in. | 政治家们终于要介入了. |
| 263 | They have to. | 他们必须。 |
| 264 | This fight caused a severe diplomatic rift | 这场斗争造成了严重的外交裂痕 |
| 265 | between Beijing and The Hague last year. | 去年在北京和海牙之间。 |
| 266 | The Hague is the seat of the Dutch government, | 海牙是荷兰政府的所在地 |
| 267 | just to clarify there. | 就为了澄清一下 |
| 268 | But communication really broke down, didn't it? | 但沟通真的破裂了,不是吗? |
| 269 | It did. | 没错 |
| 270 | Yeah. | 对 |
| 271 | Seizing a major tech investment always | 获取重大技术投资 |
| 272 | causes a diplomatic freeze. | 导致外交冻结。 |
| 273 | Right, right. | 对,对。 |
| 274 | But we are actually seeing a thaw now. | 但是,我们现在正在看到一个解冻。 |
| 275 | The mood is changing. | 情绪正在改变。 |
| 276 | A new Dutch government took office in February. | 荷兰新政府于2月上任. |
| 277 | And new governments like to reset tricky relationships. | 新政府喜欢重设棘手的关系 |
| 278 | We see that happening. | 我们看到这种情况。 |
| 279 | Several Dutch ministers have visited China recently. | 一些荷兰部长最近访问了中国。 |
| 280 | The food minister and the trade minister | 食品部长和贸易部长 |
| 281 | went in May and July. | 5月和7月都去过 |
| 282 | That is classic diplomacy. | 这是典型的外交。 |
| 283 | You do not start by yelling about microchips. | 你不能从大喊小叫开始 |
| 284 | You start with safe topics, like food exports. | 你从安全话题开始 比如食品出口 |
| 285 | You rebuild trust slowly. | 你慢慢重建信任。 |
| 286 | And it seems to be working. | 它似乎在起作用。 |
| 287 | They are preparing for a massive visit now. | 他们正在准备大规模访问。 |
| 288 | Right, the Dutch prime minister, Rob Yetten, | 对 荷兰首相罗布·叶登 |
| 289 | he is planning a state visit to Beijing this coming spring. | 他计划今年春天对北京进行国事访问。 |
| 290 | This is the highest level of diplomacy. | 这是外交的最高水平。 |
| 291 | But I want to pose a question to you, the listener. | 但我想问你一个问题,听者。 |
| 292 | It is a big question. | 这是一个大问题。 |
| 293 | We have a shattered business deal, | 我们有一个破碎的交易, |
| 294 | supply chains split, and frozen assets. | 供应链被分割,被冻结资产。 |
| 295 | Can a prime minister actually fix this? | 首相真的能解决这个问题吗? |
| 296 | Or is it too late for wing tech and Xperia? | 还是对机翼科技和Xperia来说太晚了? |
| 297 | A politician cannot just call a judge | 政客不能随便叫法官 |
| 298 | and cancel a $2 billion lawsuit. | 并取消20亿美元的诉讼 |
| 299 | They cannot force auditors to break the rules. | 他们不能强迫审计员违反规则。 |
| 300 | The legal machine is already moving. | 法机已动. |
| 301 | Politicians cannot easily stop it. | 政治家们不能轻易阻止它。 |
| 302 | No, they cannot. | 不,他们不能。 |
| 303 | But this fight will definitely be the giant elephant | 但这场战斗绝对是大象 |
| 304 | in the room during that spring visit. | 春节访问时在房间里 |
| 305 | The huge problem nobody wants to talk about, | 没人想谈的大问题 |
| 306 | but everyone sees. | 但每个人都看到了。 |
| 307 | The leaders might want to talk about green energy, | 领导人可能想谈谈绿色能源, |
| 308 | but this chip fight will be right in the middle of the table. | 但这场芯片大战就在桌子中间 |
| 309 | It will be incredibly tense. | 它会非常紧张。 |
| 310 | Okay, let's wrap this up. | 好吧,让我们结束这一切。 |
| 311 | We covered a massive global story today. | 我们今天报道了一个巨大的全球故事。 |
| 312 | A billion dollar legal war over microchips. | 10亿美元的法律战争为微芯片。 |
| 313 | Multiple lawsuits and frozen assets. | 多次诉讼和冻结资产。 |
| 314 | Right, and a ticking financial clock. | 对,还有时钟 |
| 315 | Wing tech faces destruction on the stock market | 翼技术公司面临股票市场的破坏 |
| 316 | by April 2027. | 2027年4月时 |
| 317 | Plus two nations trying to fix their diplomatic ties | 加上两个国家试图修补外交联系 |
| 318 | while their companies fight a brutal legal war. | 而他们的公司却在进行一场残酷的法律战争 |
| 319 | Everything is just tied together in this dangerous knot. | 所有事情都和这个危险结联系在一起 |
| 320 | But before we sign off, | 但是在我们签字之前 |
| 321 | I want to leave you with one final new thought. | 我想给你留个新想法 |
| 322 | What is the question for the listener? | 听者问甚么. |
| 323 | Think about that seven year gap we discussed. | 想想我们讨论的7年差距。 |
| 324 | Wing tech bought the company in 2018. | 翼科技于2018年收购了该公司. |
| 325 | The government seized it in 2025. | 2025年被政府查封. |
| 326 | In today's world, | 在当今世界, |
| 327 | if a government can reverse a business purchase | 如果政府可以推翻企业购买 |
| 328 | seven years later, | 7年后,我们... |
| 329 | does anyone truly own a global tech company anymore? | 是否有人真正拥有一家全球技术公司? |
| 330 | It is a troubling thought. | 这是一个令人不安的想法。 |
| 331 | It completely changes the risk of global investment. | 它完全改变了全球投资的风险。 |
| 332 | It really does. | 确实 |
| 333 | Thank you for joining this deep dive. | 谢谢你加入这次深潜 |
| 334 | We hope you learned something new today. | 我们希望你今天学到一些新东西。 |
| 335 | Keep questioning what you read, | 继续质疑你读了什么 |
| 336 | and we will catch you next time. | 下次我们会抓住你的 |
| 337 | We will catch you next time. | 下次我们会抓住你的 |
该视频共有字幕 337 条。解锁更多字幕为会员功能，请移动到 价格