Beijing Bytes: Rare Earths, Crashing Exports & Hacked IoT - US-China Tech Tango Gets Wilder
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Beijing Bytes: Rare Earths, Crashing Exports & Hacked IoT - US-China Tech Tango Gets Wilder
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About this listen
*Beijing Bytes: US-China Tech War Updates with Ting*
Hey tech enthusiasts! Ting here, coming to you with the latest pulse check on the increasingly complex US-China tech tango. The past two weeks have been absolutely wild in the digital battleground.
Let's dive right in. Just two days ago, on June 10th, Washington and Beijing finally hammered out a new framework in London to de-escalate mounting trade tensions that nearly collapsed bilateral trade last month. The May 12th Geneva negotiations pulled us back from the brink of what would have been an unprecedented trade embargo. Both sides claimed victory, with Trump securing rare earth exports from China, while Beijing got verbal commitments against decoupling.
But make no mistake – this isn't your parents' trade war anymore. We've graduated to a full-blown technology conflict where semiconductor manufacturing equipment, rare earth processing, and software export controls are the new battlefields. China controls a staggering 85% of global rare earth processing capacity, while the US leverages its chokehold on advanced chip production equipment like ASML's EUV lithography machines.
The casualties are mounting. On May 22nd, smartphone exports crashed a jaw-dropping 72% – the steepest decline since records began in 2011. Meanwhile, on the cyber front, a China-linked espionage group has been busy targeting over 70 organizations across multiple sectors between July 2024 and March 2025, including cybersecurity firm SentinelOne.
Adding to the digital chaos, two distinct Mirai botnets are currently exploiting the Wazuh Server vulnerability (CVE-2025-24016) to launch distributed denial-of-service attacks and infect IoT devices worldwide.
What's becoming crystal clear is that both nations are prioritizing technological sovereignty over short-term economic gains. China's $143 billion semiconductor self-sufficiency drive and America's $50 billion CHIPS Act tell the story. Beijing's strategy of retaliating, preparing its population for a protracted struggle, and waiting for Washington to seek an offramp proved effective in recent negotiations.
The strategic chess match continues to evolve beyond tariffs to technological dominance. Despite the recent de-escalation, experts warn the truce remains fragile. One thing is certain – Beijing views recent US actions as vindication for its techno-industrial and self-reliance policies.
As we look ahead, expect continued volatility, especially around export controls on emerging technologies. The future economic and geopolitical power balance will ultimately be determined not by trade deficits, but by who controls the critical technologies of tomorrow.
This is Ting, signing off until our next tech war update!
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