FT News Briefing China bans Micron’s products from key infrastructure
May 22, 2023
Florida Governor Ron DeSantis prepares to launch his presidential campaign amid challenges. Meanwhile, China's ban on Micron products raises concerns over national security and potential political retaliation. In the finance world, Morgan Stanley searches for a new CEO after James Gorman's upcoming departure. The podcast also delves into how the war in Ukraine has accelerated changes in defense technology, highlighting the competition between traditional firms and innovative tech companies.
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China's Micron Ban
- China banned Micron, a major U.S. chipmaker, from its key infrastructure markets, citing security risks.
- This ban could significantly impact Micron, as China represents a substantial portion of its sales.
Micron Ban's Impact
- While the Micron ban appears retaliatory for U.S. chip restrictions, its long-term effects are uncertain.
- China's lack of specifics raises questions about the ban's true nature and potential impact on Chinese industries.
Micron Replacements
- Micron's memory chips, while crucial, have readily available replacements from South Korean rivals.
- The U.S. is pressuring South Korea to prevent these rivals from filling the void left by Micron's ban.