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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’s 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":2,"featured_media":99698,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[2473,449,1071,5681,28,122,5244,1072,12,101,11,11718,5886,3487,111,74],"class_list":["post-99697","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-advanced-micro-devices-inc","tag-breaking-news-economy","tag-breaking-news-politics","tag-breaking-news-technology","tag-business","tag-business-news","tag-coca-cola-co","tag-donald-j-trump","tag-donald-trump","tag-economy","tag-elon-musk","tag-enterprise","tag-intel-corp","tag-nvidia-corp","tag-politics","tag-technology"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/99697","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=99697"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/99697\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/99698"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=99697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=99697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=99697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}