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Is 2024 the beginning of the end for US tech companies to maintain significant market share in China and BRICS nations? Will the US implement more security policies to shield its tech companies from Chinese competition, both domestically and with G7 allies? What implications does this hold for the US and G7 countries? Will the US change its policy and compete against China on progress and allow new domestic and foreign competition will they continue the same direction..? What does that mean for US and G7 countries? Will they fall behind China even further? In response to the US losing vast market share against Chinese tech innovation from companies such as BYD, Xiaomi, Huawei, and TikTok, is the US using “security” as a reason to ban Chinese tech from the US and G7 nations? If China reciprocates and bans US chips, phones, computers, electronics, and cars, will the US lose its largest market (China), and will BRICS countries follow suit? Below excerpt reported by Mitchel. A. (2024, March 1). Sec. Raimondo: Chinese-made smart cars may be ‘collecting data every minute’ on ‘millions’ in US. MSNBC 'The Biden administration is directing the Commerce Department to investigate the national security threats posed by Chinese-made smart cars, which can gather sensitive information about their drivers. Commerce Secretary Gina Raimondo joins Andrea Mitchell to discuss. “Imagine a world in which there are a million, for example, millions of cars, Chinese cars on U.S. roads, collecting this data every minute of every day on millions of Americans and sending that back to Beijing,” Raimondo says. On the likelihood of the Department recommending sanctions, Raimondo adds, “We have to see what we find. We're taking this very seriously. I mean, as you point out, I'm already quite nervous about it. But let's let the process play out."' To watch full report, click here Photo by Jimmy Jin on Unsplash Legal Disclaimer: INFYNIT is providing the content here for educational purposes only. All opinions are of the original author and not an opinion of INFYNIT or any of its affiliates.
