Speaker 1: Hey there, I'm ting and let's dive right into the
Speaker 1: latest on the US China tech war. Over the past
Speaker 1: two weeks, things have escalated quickly. Let's start with the
Speaker 1: cybersecurity incidents. The People's Republic of China PRC has been
Speaker 1: busy with a state sponsored cyber attack on the US
Speaker 1: Treasury Department. This breach, likely aimed at gathering intel on
Speaker 1: US sanctions on Chinese exports, is just the tip of
Speaker 1: the iceberg. The Salt Typhoon Group, a Chinese state backed
Speaker 1: hacker group, has breached nine US telecommunications providers, giving the
Speaker 1: Chinese government broad access to Americans data and the capability
Speaker 1: to geolocate millions of individuals two five. But that's not all.
Speaker 1: China has also imposed export controls on twenty eight US companies,
Speaker 1: including defense giants Lockheed Martin and Boeing Defense, in retaliation
Speaker 1: for US restrictions on Chinese access to critical and emerging technologies.
Speaker 1: This move signals Beijing's willingness to fight US trade fire
Speaker 1: with fire, especially with Donald Trump set to resume the
Speaker 1: presidency and his promise of tougher stances on China ie.
Speaker 1: The US, on the other hand, has ramped up restrictions
Speaker 1: on China's access to chip making equipment and software essential
Speaker 1: for semiconductor development, adding one hundred and forty Chinese companies
Speaker 1: to the export control list. China has countered by banning
Speaker 1: chips from US companies like Micron in its sensitive sectors
Speaker 1: and releasing an export control list of dual use items
Speaker 1: aimed at creating a consolidated list for Expert analysis suggests
Speaker 1: that these escalations are part of a broader strategy. David Sedney,
Speaker 1: former Deputy Assistant Secretary of Defense, notes that the Chinese
Speaker 1: want to be prepared for what the Biden administration does
Speaker 1: in its closing days and what the Trump administration does
Speaker 1: starting on January twentieth. He warns that the attacks are
Speaker 1: likely to grow in scope and sophistication. Looking ahead, the
Speaker 1: implications are signific. The global economy is already grappling with
Speaker 1: inflationary pressures, energy and security, and the specter of war.
Speaker 1: A renewed escalation in trade tensions between the world's two
Speaker 1: largest economies could exacerbate these challenges, dragging other nations into
Speaker 1: the fray as collateral damage. In conclusion, the past two
Speaker 1: weeks have seen a dramatic escalation in the US China
Speaker 1: tech war, with both sides employing new restrictions and cyber attacks.
Speaker 1: As we move forward, it's clear that this rivalry will
Speaker 1: continue to shape the global economic landscape with no end
Speaker 1: in sight. Stay tuned, folks, it's going to be a
Speaker 1: wild ride. Thanks for listening. Make sure you hit the
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