Tech Industry Squeezed by U.S.-China Rift: “The Music Is Going to Stop”

The new round of efforts to slow China's access to semiconductor technology the U.S. announced last month went further than many people expected. And the Biden Administration isn't slowing down, with more restrictions seen as likely.

Why it matters: The tech industry once drove a wider movement to tie the world's economies together. Now it's becoming a victim of larger forces that are tearing them apart.

Experts say it's also a cautionary tale for companies who still have a big dependency on China, either as a market for their products or as part of their supply chain.
"The music is going to stop at some point," Martijn Rasser, a senior fellow at the Center for a New American Security (CNAS), tells Axios. "Instead of one chair getting pulled out, it’s going to be a lot of chairs."

Read the full story and more from Axios.