CXMT
3 articles
- The Duplication Tax: The U.S.-China Tech Split Is a Permanent Infrastructure Cost
Export controls and data-sovereignty laws have divided the technology economy into two non-interoperable production systems. Multinationals now face a permanent cost premium from bifurcating infrastructure, products, data systems, and compliance operations.
- China’s Balance-Sheet Transfer: Weak Consumption and Chip Exports Are the Same Story
China has not repaired its growth model; it has redistributed the losses. Property damage and weak consumption are being absorbed by banks, local governments, state capital, public investors, and export-credit vehicles, while external demand remains the only load-bearing growth channel. The key risk is what happens if that export valve narrows.
- The Compute Substrate Race: Where the U.S. and China Hit Different Walls
AI compute scarcity has migrated from fabrication to HBM, advanced packaging, grid access, and cooling. China is constrained upstream; the U.S. downstream.