By CNA Published: 05 Sep 2019 Audio: English
The deepening trade war between the US and China has threatened to divide the world into two economic and technological blocs. Each country is now pushing for self-reliance in technology while limiting the other's access to advanced technological know-how. For example, telecom firms in Japan, Britain and Taiwan are among those that have halted orders for Huawei's latest devices. Other countries which have benefited from China's aid and investments on the other hand also feel compelled to be part of the so-called 'Team China'. What will the impact of this division be on the world economic order ? Is this call for technology self-reliance possible given how deeply embedded foreign technology companies are in China's industry supply chains ? Can countries in Asia afford to choose sides without endangering their own economic interests and survival ? And will the global economies be able to absorb the shock if both sides go down the path towards a technological cold war ?
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