Disney, Apple and other American companies will face the most difficult problems in the “selective separation” of companies from the Chinese economy. According to RBC with reference to Bloomberg, this was stated by the head of the US House of Representatives Select Committee on Strategic Competition with the Chinese Communist Party, Republican Congressman Mike Gallagher.
“Apple is at the center of the most difficult aspect of the rivalry, which is that companies with a large presence in China will have to come to terms with the fact that some form of selective economic separation is inevitable,” Gallagher said.
A complete break with China, despite the growing tension in relations with it, will not happen in the near future, the congressman assured. Instead, he said, there will be a “selective spin-off” during which some supply chains of sensitive components will be phased out of China, creating problems and unnecessary costs for private businesses. The only scenario where there will be no secession is if China uses military force against Taiwan, the congressman said.
The companies wanted “clear guidance” from the US government on areas of the Chinese economy that should be shunned, he said. They also expressed “almost unanimous” support for US restrictions on investment in Chinese AI development, quantum computing, bioengineering, advanced conductors and other dual-use technologies.
Gallagher, along with fellow congressmen, previously met with Apple CEOs Tim Cook and Disney Bob Iger, executives from Google, Microsoft, Palantir Technologies (owned by Alphabet), several high-profile venture capitalists and Hollywood figures. The conversation with Iger and the filmmakers was about concerns that American companies are deliberately censoring their content for the Chinese market, the congressmen intended to hear the opinion of businessmen.
Source: Rosbalt
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