Today [Oct 8] the US government levied new export regulations and restrictions against China that amount to a full-scale bilateral economic cold war. We will break down the impact and affected companies, but the actions were a long time coming. China intensified its covert economic warfare in the last decades through state-sponsored corporate espionage, state-sponsored hacking, dumping, and draconian restrictions for market access. The US is now responding with its salvo of restrictions to market access in semiconductors, telecommunications, optics, and AI.
There were two main sets of regulatory actions taken today. The first is a new ruling on new export controls for advanced computing, semiconductor manufacturing, and the general semiconductor supply chain. The other is adding 31 companies to the unverified list and modifying how companies on the unverified list must be treated. Both these changes will shift the landscape of technology and industry and reduce global trade by hundreds of billions of dollars a year.
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Add this to blowing up Nord Steam 2 and it’s clear Biden’s handlers are flexing at the very least or pushing for more. It’s too early to say they are starting WW3 but these are people who do not back down even when they are being reckless. They almost certainly did covid and certainly did the covid response disaster, both of which harmed the West greatly while facilitating election theft, so I put nothing past them. Don’t be surprised if emergency war powers is this year’s October surprise. ABN
American Buddhist Net 