by Peter Zeihan on August 18, 2023

The Biden administration has issued its first wave of investment bans on the Chinese tech space – things like AI or tech with military applications. However, money isn’t the problem for the Chinese; the real kicker is losing access to American know-how.

This is only the first wave of capital restrictions placed on the Chinese, but they won’t be hurting for cash. For the last 30 years, the Chinese have restricted capital from flowing abroad, ensuring a bottomless supply of money at home. That’s why China has seen explosive growth over the past few decades.

The one thing they do lack is ACCESS. Without the know-how and connections American investment gave them, all those doors will slam shut in their face. Innovation will be stifled, and economic growth will come to a halt.

This is only the first wave of capital restrictions placed on the Chinese, but the long-term effects will be devastating. And to kick Xi while he’s down, he’ll just have to sit back and watch the tech sectors of the countries around him surge to the top.

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