Singling out China in particular, the president declared that these competitors were “dumping steel and destroying our steel industry .
Far from flooding the United States with cheap metal, China makes up a tiny sliver of American steel consumption, and it has already been rapidly cutting production to compensate for that falling global demand.
The American economy has for decades been powered by technological development, and the United States has in turn been an engine for global innovation and progress.
They licensed the technique to Novartis, which scaled the treatment, readied it for FDA approval and stands to make a tidy profit while saving the lives of countless Americans.
But the benefit of this model reaches far beyond PhDs in medical laboratories.