WSJ What’s News: Condoleezza Rice on Beating China in the Tech Race – "Run Hard and Run Fast"

Date: November 23, 2025
Episode: What’s News Sunday – Featuring an interview from the WSJ’s “Bold Names” podcast

Overview

In this episode, former U.S. Secretary of State Condoleezza Rice offers her take on how the U.S. can edge out China in the ongoing global technology race, particularly in artificial intelligence and other critical sectors. With hosts Christopher Mims and Tim Higgins, Rice discusses the complexities of U.S.-China relations, global supply chain shifts, the role of universities in innovation, and the urgent need for the U.S. to "run hard and run fast." The conversation ranges from historical analogies, current business challenges, and the deeper implications of tech leadership for national security and economic prosperity.

Key Discussion Points & Insights

1. The Shifting Geopolitical and Economic Landscape

• Global Uncertainty:
  • Business leaders used to take global order and open markets for granted; now uncertainty defines the landscape, driven by nationalism, supply chain disruption, and a rising tech arms race with China.
  • "You could put your supply chains where it was most efficient... I think what's happened is... more nationalistic policies." (Rice, 05:02)
• Beyond Administration Changes:
  • The tectonic shifts pre-date recent administrations and are likely to persist regardless of political leadership.

2. Rejecting the "New Cold War" Analogy

• Key Differences with the Past:
  • Rice strongly objects to labeling the U.S.-China competition as a "new Cold War."
  • Soviet Union was a military giant but an "economic and technological midget"; China is deeply integrated economically and technologically.
  • "I don't like the analogy because... it really does obfuscate this very real difference in what the challenge from China looks like." (Rice, 06:57)
• China’s Integration:
  • The U.S. faces challenges due to China's dominance in crucial supply chains (e.g., rare earth metals)—something the Soviets never achieved.

3. China as a Technological Peer

• Areas of Concern:
  • Beyond AI, China matches or exceeds the U.S. in robotics, battery technology, and synthetic biology.
  • “Ask a lot of scientists where they're buying the robots and they'll tell you China.” (Rice, 08:28)
• Private Sector Blind Spots:
  • Sometimes breakthroughs in the tech sector aren’t visible to policymakers until they impact national security (e.g., China’s DeepSeek AI model).

4. Advising Businesses in a Fractured World

• Separating Signal from Noise:
  • Don’t react to every sensational headline; focus on enduring factors and permanence when adapting to change.
  • "There's an awful lot of hopping up and down out there and it's not going to settle down for a while." (Rice, 10:06)
• Scenario Planning:
  • Companies are urged to simulate contingencies, establish actionable indicators, and analyze both industry and enterprise risk.
  • The NBA’s experience in China exemplifies brand risk amid geopolitical sensitivity.

5. Navigating Technology Decoupling

• Tech Companies on the Frontlines:
  • Tech firms are more likely to experience full decoupling from China, as seen in cases like Nvidia's recent blacklisting by Chinese authorities.
• Adaptability as Strength:
  • “Nvidia is such a huge presence... their ability to continually reinvent themselves... that's what's going to serve them best.” (Rice, 17:02)

6. Learning from – and Differentiating – History

• Comparisons to the World Wars:
  • There are parallels to pre-WWI Europe—dense economic interconnections and a mistaken belief that conflict was unthinkable—but Rice stresses the even deeper, private sector-led integration with China today.
  • “I don't think that compares to what you're seeing now in terms of how far the integration went of China.” (Rice, 20:25)
• Role of Governments and Business:
  • Early 2000s U.S. policy actively encouraged business to invest in China; it’s unfair to blame companies alone for their current positions.

7. Building the U.S. Innovation Engine

• “Run Hard and Run Fast”:
  • U.S. must pursue technological leadership without paralyzing fear of “downsides.”
  • “Just try not to worry too much about downsides... I think the opportunities way outweigh the downsides.” (Rice, 22:57)
• Democratic Corrective Mechanisms:
  • Rice trusts democratic systems to identify and manage problems via scrutiny, public debate, and regulation—unlike China’s more opaque approach (e.g., COVID transparency).
• Europe as Regulator, U.S. as Innovator:
  • Rice laments that Europe regulates while U.S. innovates, warning of growing transatlantic tension.

8. University Funding: The Infrastructure of Innovation

• Role of Academic Research:
  • Government-funded university research is indispensable for foundational innovation; the private sector cannot replace its uniquely long time horizons and curiosity-driven approach.
  • “It is also true that on things like AI, universities don't have the compute power... But I would ask the following question: Do you really want all of the innovation to be done in the private sector?” (Rice, 28:01)
• Risks of Politicizing University Funding:
  • Recent university controversies (e.g., post-October 7th campus politics) must not imperil funding for high-impact research that feeds the nation’s tech pipeline.

9. The Optimistic Scenario: Technology as a Force for Good

• Productivity and Social Benefits:
  • Technological breakthroughs offer vast potential for improving education, health care, and economic growth to address issues like aging populations and stagnant productivity.
  • "I do believe that the potential for these technologies to change the face of education, to change the face of health care..." (Rice, 31:37)
• U.S. Positioned for Leadership:
  • Rice closes on a note of ambition and promise—stressing the need for the U.S. to fully seize this generational opportunity.

Notable Quotes & Memorable Moments

• On AGI and National Interest:
  • "If it's going to happen, I sure want it to happen in the United States, not in China. I don't want to wake up one day and find out that they have a general intelligence robot." (Rice, 02:21)
• "If there’s going to be a Terminator, let him be American." (Rice, 02:49)
• On Decoupling:
  • “If you're in the technology space, then you are going to decouple from China.” (Rice, 15:59)
• On Adaptability:
  • “Nvidia... their ability to continually reinvent themselves... that's what's going to serve them best.” (Rice, 17:02)
• On History and Precedent:
  • “Everything's unprecedented if you don't know history.” (Steve Kotkin, quoted by Rice, 18:03)
• On Universities:
  • "If the cost for trying to rectify that is that we destroy what basically has been the infrastructure of innovation... then we've really created a great deficit for the things we need to do. And we don't have a plan B." (Rice, 28:01)
• On Social Media Polarization:
  • "It is contributing to our polarization because social media encourages you to go to your tribe..." (Rice, 25:57)

Key Timestamps

• 02:21 – Rice on the nightmare scenario: AGI leadership going to China
• 05:02 – Rice describes the new climate of global business uncertainty
• 06:57 – Why the "new Cold War" analogy fails
• 08:28 – China’s tech parity in robotics, batteries, and synthetic biology
• 10:06 – Guidance for businesses: "Separate signal from noise"
• 12:46 – Example of responding to supply chain and geopolitical risk
• 15:59 – On technology decoupling from China
• 16:47 – Rice’s advice for companies like Nvidia facing blacklisting
• 18:03 – Historic lessons and the limits of unprecedented challenges
• 22:57 – Rice’s rallying cry: "Run hard and run fast"
• 25:57 – Discussion on EU tech regulation and its effect on innovation
• 28:01 – The case for continued university research funding
• 31:37 – Rice’s optimistic case: tech to tackle education, health, and productivity

Summary Tone & Takeaway

Rice’s tone is pragmatic yet optimistic—she sees immense opportunity in tech leadership for the U.S., provided policy, industry, and academia remain aligned. While she underscores the dangers of complacency, overreaction, and short-term thinking, her emphasis is on swift, confident innovation anchored by the strengths of the U.S. system and an enduring belief in democratic corrective mechanisms.

Rice’s central message:
In the accelerating global technology race—especially against China—the U.S. must "run hard and run fast," investing boldly in innovation, leveraging its democratic strengths, and ensuring both industry and universities remain at the forefront.