Speaker 1: Hey there, folks, imting and welcome to Beijing Bites, where
Speaker 1: we dive into the latest updates on the US China
Speaker 1: tech war. Let's jump right in. Over the past two weeks,
Speaker 1: tensions have escalated significantly due to new restrictions on rare
Speaker 1: earth exports. China's Ministry of Commerce introduced rules requiring approvals
Speaker 1: for products containing more than zero point one per cent
Speaker 1: of Chinese rare earth materials, affecting industries like semiconductors and
Speaker 1: defense systems. This move is seen as a strategic escalation,
Speaker 1: similar to the US's foreign direct Product rule, but with
Speaker 1: a broader global reach. Experts worn that if enforced fully,
Speaker 1: this could lead to rare earth price spikes and stockpiling
Speaker 1: by major economies. Christy Schu, director of the Taiwan Asian
Speaker 1: Studies Center, noted that Taiwan could be hit hard due
Speaker 1: to its reliance on Japanese components that use Chinese ware earths.
Speaker 1: China dominates about ninety percent of the world's rare earth
Speaker 1: refining capacity, giving its significant leverage over global tech production.
Speaker 1: In response, President Donald Trump announced plans for additional tariffs
Speaker 1: on Chinese goods and limits on U S software exports.
Speaker 1: To China. This has reignited trade war fears, with both
Speaker 1: countries accusing each other of unfair practices. The ongoing trade
Speaker 1: tensions could severely impact tech stocks and global economic stability. Meanwhile,
Speaker 1: on the cybersecurity front, Quantus faced a recent cyber attack,
Speaker 1: highlighting the growing importance of immediate incident response and strategic
Speaker 1: resilience in the travel sector. This comes as SCISSA, the
Speaker 1: U S Cyber Security and Infrastructure Security Agency, focuses on
Speaker 1: defending critical infrastructure against potential cyber threats, particularly from China.
Speaker 1: Experts predict that these developments will have far reaching impacts
Speaker 1: on both nations tech industries. As the US and China
Speaker 1: continue to maneuver for dominance, the sticks are high and
Speaker 1: the world watches CLIs. Thanks for tuning in to this
Speaker 1: episode of Beijing Bites. If you want to stay updated
Speaker 1: on the latest tech conflicts, be sure to subscribe to
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