US Chip Maker Micron Under Fire in China Amid Escalating Tech Tensions
China has launched a cybersecurity probe into Micron Technology, one of the US's largest memory chip makers, amid growing tensions between Beijing and Washington over access to key technology. The move comes as several countries, including Japan, the US, and the Netherlands, have announced new restrictions on tech exports to China.
The Cyberspace Administration of China (CAC) will review Micron's products sold in the country, citing concerns about "ensuring the security of key information infrastructure supply chains, preventing cybersecurity risks caused by hidden product problems, and maintaining national security." The probe is seen as a response to US allies' restrictions on tech exports to Beijing.
Micron said it was aware of the review and is cooperating fully with Chinese authorities. However, shares in the company dropped 4.4% on Wall Street following the news, the biggest drop in over three months. Micron derives more than 10% of its revenue from China.
The move marks a new front in Beijing's efforts to bring foreign companies into line with its agenda. The Chinese government has been increasingly exerting pressure on foreign firms, including US corporations, to adopt its policies and submit to its jurisdiction.
In recent months, China has cracked down on foreign companies, detaining staff and suspending operations in the country. In October, the US banned Chinese companies from buying advanced chips and chip-making equipment without a license, citing national security concerns.
The restrictions have sparked a global trade war, with many countries taking sides. The tensions have also raised concerns about the impact on global supply chains and the potential for further escalation.
As China's economic challenges mount, Beijing is seeking to woo foreign investments to boost growth and job creation. However, its aggressive tactics towards foreign companies are raising questions about its commitment to reform and openness.
The probe into Micron Technology highlights the growing risks faced by US chip makers operating in China. The company had warned of such risks earlier this year, citing concerns about government restrictions on tech exports.
China has launched a cybersecurity probe into Micron Technology, one of the US's largest memory chip makers, amid growing tensions between Beijing and Washington over access to key technology. The move comes as several countries, including Japan, the US, and the Netherlands, have announced new restrictions on tech exports to China.
The Cyberspace Administration of China (CAC) will review Micron's products sold in the country, citing concerns about "ensuring the security of key information infrastructure supply chains, preventing cybersecurity risks caused by hidden product problems, and maintaining national security." The probe is seen as a response to US allies' restrictions on tech exports to Beijing.
Micron said it was aware of the review and is cooperating fully with Chinese authorities. However, shares in the company dropped 4.4% on Wall Street following the news, the biggest drop in over three months. Micron derives more than 10% of its revenue from China.
The move marks a new front in Beijing's efforts to bring foreign companies into line with its agenda. The Chinese government has been increasingly exerting pressure on foreign firms, including US corporations, to adopt its policies and submit to its jurisdiction.
In recent months, China has cracked down on foreign companies, detaining staff and suspending operations in the country. In October, the US banned Chinese companies from buying advanced chips and chip-making equipment without a license, citing national security concerns.
The restrictions have sparked a global trade war, with many countries taking sides. The tensions have also raised concerns about the impact on global supply chains and the potential for further escalation.
As China's economic challenges mount, Beijing is seeking to woo foreign investments to boost growth and job creation. However, its aggressive tactics towards foreign companies are raising questions about its commitment to reform and openness.
The probe into Micron Technology highlights the growing risks faced by US chip makers operating in China. The company had warned of such risks earlier this year, citing concerns about government restrictions on tech exports.
This is getting too close to home for me! I think it's clear that China is trying to exert its influence over foreign companies and get them to play by its rules. I mean, who needs a cybersecurity probe when you can just restrict exports? 
It's like the old saying goes - "if you're not paying attention, they'll be making the rules". The fact that Micron's shares dropped 4.4% is just proof that this is a wake-up call for US companies operating in China. We need to stand firm on our values and ensure that foreign firms aren't being bullied into submission. It's all about national security, but I think it's time we take a closer look at whether Beijing's actions are really motivated by a desire to protect its citizens or just to expand its own power grip. 
i mean micron tech is like a big deal in the chip making industry and now theyre under fire in china 
its crazy how fast things are moving in this trade war thingy...i heard some ppl saying china needs to focus on its own economy instead of trying to control everyone elses 
but idk i feel bad for micron tech cuz they did warn about the risks earlier lol guess you can say i wasnt paying attention 
. And with Micron making up 10% of their revenue from China, this is definitely not good news for them 
. What's even scarier is that it's just another sign of China trying to force foreign companies to do what they want 
. Can't we all just get along and trade freely? 
. can't we just, like, coexist peacefully? 
maybe this probe will lead to some actual reform and not just more tensions between the two nations 
... but honestly, it's kinda sad that china feels like they need to crack down on foreign companies to "bring them into line" 
. anyway, i guess we'll just have to wait and see how this all plays out 
microns just got caught in the crossfire and now its losing millions 
the fact that shares dropped 4.4% might seem bad, but think about it this way: if a company's not playing by china's rules, they shouldn't be surprised when the tables turn 
. plus, all these restrictions on tech exports are actually helping to strengthen global supply chains... it's like a big web of security 
. let's not forget that china's got its own economic challenges and is trying to woo foreign investments - this might just be the push they need to get their act together 
. if china's gonna crack down on foreign firms just to get what it wants, doesn't that sound like a recipe for global trade chaos? 
and yeah, micron's shares are taking a hit 
.
meanwhile, the US is all "hey china, chill out" 
. China's move may be seen as a way to assert its dominance, but it also risks pushing away potential investments and partnerships 
. The fact that US allies are taking similar action against Chinese companies just adds to the complexity 
. Can't help but wonder what the long game looks like here... will China come out on top or will these tensions boil over? 
Only time will tell, I suppose 
But do you think it's a fair fight? Should foreign companies be allowed to operate in China if they don't meet certain standards, or should they just pull out altogether? 
. It's like, can't we all just get along? 
, but let's hope for a peaceful resolution 
. Can't wait to see what happens next 
! China's been cracking down on foreign companies like there's no tomorrow. First, it was Huawei, then TikTok, now Micron? 
And what about the people working for these companies?! They're getting caught in the crossfire 
. I hope Micron gets through this probe without any major issues, but it's scary to think about.
. Not just taking advantage of loopholes or exploiting cheap labor