Beijing is taking steps to tighten control over cutting-edge Chinese technology in response to escalating trade tensions with the US and Europe. Chinese authorities are making it harder for engineers and equipment to leave the country, proposing new export controls on key battery technologies, and restricting technologies for processing critical minerals. This move aims to keep critical knowhow within China’s borders and maintain its position in global supply chains. The restrictions could impact companies like Foxconn, Apple’s main manufacturing partner, which is facing challenges in diversifying its supply chain into India. Beijing’s actions resemble western tech transfer restrictions that it has criticized in the past. The proposed export controls on lithium extraction and battery materials could affect China’s battery giants with operations in Europe. These controls may also impact partnerships between Chinese and Korean battery producers. Additionally, China has broadened its export controls to include strategic materials and minerals like rare earths, tungsten, and tellurium. The country’s efforts to control key technologies and processes aim to maintain its dominance in global supply chains and technological advancements. the given text.
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Down 24%, Should You Buy the Dip on BigBear.ai?
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