Nicholas Thompson on China's tech U-turn

October 27, 2021

Nick Thompson on China's Tech U-turn | GZERO World

Six months ago, China's tech giants were champions of the state, working with the government to conquer US Big Tech. But then Xi Jinping started cracking down, and a trillion dollars in their market value is gone. Huh? For Nicholas Thompson, CEO of The Atlantic and former editor-in-chief of WIRED, it makes sense for Xi to go after cryptocurrencies to ensure they don't replace the yuan. But going after national tech champions, he says, could be fool's errand because it's inevitable they'll someday become more powerful than the state itself.

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Israel approved the Gaza ceasefire deal on Friday morning, bringing the ceasefire officially into effect. The Israeli military must withdraw its forces to an agreed perimeter inside Gaza within 24 hours, and Hamas has 72 hours to return the hostages.

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China has implemented broad new restrictions on exports of rare earth and other critical minerals vital for semiconductors, the auto industry, and military technology, of which it controls 70% of the global supply.