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President Donald Trump<\/a>‘s dealings with Intel<\/a> and Nvidia<\/a> amount to a “scattershot method of crony capitalism,” Walter Isaacson said Thursday.<\/p>\n “That state capitalism often evolves into crony capitalism, where you have favored companies and industries that pay tribute to the leader, and that is a recipe for not only disaster, but just sort of a corrupt sense of messiness,” he told CNBC’s “Squawk Box.”<\/p>\n The Tulane University professor, widely known for his recent Elon Musk<\/a> biography, argued that this method won’t succeed in reviving American manufacturing.<\/p>\n Isaacson’s comments come as the Trump administration wades further into influencing the way companies operate in the U.S.<\/p>\n The White House<\/a> is pushing for\u00a0a stake\u00a0in embattled chipmaker<\/a> Intel after Trump called CEO Lip-Bu Tan<\/a> “highly CONFLICTED” and said he should\u00a0resign.<\/p>\n Earlier this month, both Nvidia and Advanced Micro Devices<\/a>\u00a0agreed to pay 15%\u00a0of their China revenues to the U.S. government for export licenses<\/a> to sell certain chips there.<\/p>\n Isaacson said he has always been “dubious” of public-private partnerships. He highlighted Trump’s push for Coca-Cola<\/a> to use cane sugar<\/a> in its namesake soda as another example of “crony capitalism.”<\/p>\n","protected":false},"excerpt":{"rendered":"President Donald Trump‘s dealings with Intel and Nvidia amount to a “scattershot method of crony capitalism,” Walter Isaacson…\n","protected":false},"author":3,"featured_media":164284,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[9203,78,76,11732,64,81,6797,77,69,79,66,3722,43930,147,80,158,67,132,68],"class_list":{"0":"post-164283","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-advanced-micro-devices-inc","9":"tag-breaking-news-economy","10":"tag-breaking-news-politics","11":"tag-breaking-news-technology","12":"tag-business","13":"tag-business-news","14":"tag-coca-cola-co","15":"tag-donald-j-trump","16":"tag-donald-trump","17":"tag-economy","18":"tag-elon-musk","19":"tag-enterprise","20":"tag-intel-corp","21":"tag-nvidia-corp","22":"tag-politics","23":"tag-technology","24":"tag-united-states","25":"tag-unitedstates","26":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115067848135557994","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/164283","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=164283"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/164283\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/164284"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=164283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=164283"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=164283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}