The China and US Restriction-fights Will Destroy Wealth, As Apple Loses $200B

When two elephants fight, the grass suffers. Yes, the competitive battles between the nations of the United States and People’s Republic of China, over years, will wipe wealth across nations and citizens, even before the expected confrontation in Taiwan begins.

This week, Apple is off by $200 billion: “Apple’s stock experienced a sharp decline for the second consecutive day on Thursday, triggered by reports of significant restrictions on iPhones within Chinese government offices and state-affiliated organizations. The shares of the world’s largest publicly traded company saw a 2.8 percent drop, trading at $177.79 in late morning hours. Bloomberg’s coverage indicated that Apple incurred a staggering $200 billion loss over just two days.”

These restriction-fights are purely juvenile at the top level, but when you see what is happening in the Russia-Ukraine war, you will agree that during wars, anything could happen, and that whatever these restrictions are expected to do could be vital.  In other words, TitTok could be a source of data for China, just as the IPhone could help the US.

That explains why these countries do not want their public sector and government workers to touch these systems. Expect the list to keep expanding. Yet, we hope China and the US do not engage in a real battle because it will take the world backward by a century.

News that China is expanding a ban that keeps its government workers from using iPhones has hit Apple’s stock price by nearly 7% over the past two days, costing the company about $194 billion in market value, per The Wall Street Journal. Investors are concerned about the ban’s broader implications for tech firms in China, especially since Apple has been one of the industry’s “most successful operators” in China’s massive economy. Its market share has grown despite tensions over trade, which include U.S. efforts to restrict China’s access to new technology.

Also weighing on investors: a report that Apple rival Huawei’s new Mate 60 Pro smartphone is powered by an advanced chipthat was made in China. (LinkedIn News)

When two elephants fight, the grass suffers. Yes, the competitive battles between the nations of the United States and People’s Republic of China, over years, will wipe wealth across nations and citizens, even before the expected confrontation in Taiwan begins.

This week, Apple… pic.twitter.com/QjuvW19nik

— Ndubuisi Ekekwe (@ndekekwe) September 8, 2023

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