The latest US tech crackdown is threatening China’s artificial intelligence capabilities,and hurting some of its biggest companies.
The US is trying to kill off a giant project that is key to Russia’s future - and Australia is in line to benefit.
The relaxed atmosphere in the Great Hall of the People in Beijing is good news for Australia – at least on the economic front.
The prime minister said he’s “convinced” the government is building a constructive relationship with China,and pointed to trade gains.
After the US announced tighter restrictions on exports of advanced semiconductors to China last week,China has responded by introducing export controls on graphite,a critical material used in the batteries of electric vehicles.
China’s economy is showing modest momentum,but the baggage it will carry into next year and beyond threatens to thwart its ambition of toppling the US as the world’s largest economy.
Xi Jinping’s plan for global mastery of artificial intelligence and supercomputing is about to collide with the hard reality of American power as the US escalates its semiconductor war against China.
The US plans to tighten measures to restrict China’s access to advanced semiconductors and chipmaking gear to prevent it access to cutting-edge technologies.
It is too early to tell whether the ugly flare-up in the Middle East will add to the prospect of a “de-globalisation” of trade and geopolitics.
The US has racked up debt over the last fifteen years that’s comparable to the cost of two world wars and the Great Depression combined. Even a global hegemon can go bust.
In future,the strongest growth in global trade may be between blocs of aligned economies rather than free-flowing trade around the world. That’s a threatening prospect for China,and Australia.