Micron Technology has found itself in the crosshairs of China's cybersecurity watchdog, as Beijing launches a probe into the US-based chip maker amid escalating tensions between Washington and Beijing over high-tech exports.
The Cyberspace Administration of China (CAC) has announced that it will review Micron's products sold in the country, citing concerns over "ensuring the security of key information infrastructure supply chains" and preventing cybersecurity risks. The move is seen as a response to recent restrictions imposed by US allies in Asia and Europe on the sale of sensitive technology to Beijing.
In a bid to boost growth and job creation, China has been actively seeking foreign investments, including those from major tech companies like Micron. However, Beijing's growing pressure on foreign firms to bring them into line with its agenda has led to increased scrutiny of their operations in the country.
Micron, one of America's largest memory chip makers, derives more than 10% of its revenue from China, making it a key target in Beijing's efforts to assert its dominance in the global tech industry. The company has warned of such risks in an earlier filing and stated that it stands by the security of its products.
Shares in Micron have taken a hit following the news, sinking 4.4% on Wall Street last week, the biggest drop in over three months. The company's stock prices have continued to decline, with another 1.2% drop reported on Monday.
China has strongly criticized restrictions on tech exports, saying it "firmly opposes" such measures. However, Beijing's efforts to woo foreign investments and its assertion of dominance in the global tech industry have led to increased tensions between Washington and Beijing over high-tech exports.
As China seeks to bolster its economy, which is facing mounting challenges, the country's growing pressure on foreign firms has raised concerns about the potential impact on global trade and investment. The situation remains fluid, with Micron Technology at the center of a rapidly escalating tech battle between the US and China.
The Cyberspace Administration of China (CAC) has announced that it will review Micron's products sold in the country, citing concerns over "ensuring the security of key information infrastructure supply chains" and preventing cybersecurity risks. The move is seen as a response to recent restrictions imposed by US allies in Asia and Europe on the sale of sensitive technology to Beijing.
In a bid to boost growth and job creation, China has been actively seeking foreign investments, including those from major tech companies like Micron. However, Beijing's growing pressure on foreign firms to bring them into line with its agenda has led to increased scrutiny of their operations in the country.
Micron, one of America's largest memory chip makers, derives more than 10% of its revenue from China, making it a key target in Beijing's efforts to assert its dominance in the global tech industry. The company has warned of such risks in an earlier filing and stated that it stands by the security of its products.
Shares in Micron have taken a hit following the news, sinking 4.4% on Wall Street last week, the biggest drop in over three months. The company's stock prices have continued to decline, with another 1.2% drop reported on Monday.
China has strongly criticized restrictions on tech exports, saying it "firmly opposes" such measures. However, Beijing's efforts to woo foreign investments and its assertion of dominance in the global tech industry have led to increased tensions between Washington and Beijing over high-tech exports.
As China seeks to bolster its economy, which is facing mounting challenges, the country's growing pressure on foreign firms has raised concerns about the potential impact on global trade and investment. The situation remains fluid, with Micron Technology at the center of a rapidly escalating tech battle between the US and China.
however, im not convinced that microns products are inherently flawed or malicious... still waiting for more info on this 
china needs foreign investments like everyone else, maybe they should focus on makin their own tech instead of pickin at others? 
its kinda hypocritical for them to be so strict with other countries but not themselves lol.
and i'm kinda worried about the impact on my own job security as a freelance writer 
️ anyone else feeling the pressure? 
anyway back to this micron thing... i think china's been cracking down on foreign companies because they're getting too comfortable in their own backyard 
️ like that's what's happening here. micron's all "hey, we're just trying to make chips" but china's all "nope, you're gonna play by our rules now 
". it's kinda like when my friend's sister used to live in japan and then started working for a japanese company... next thing you know she's got a bunch of japanese phrases down pat 
I'm literally shaking over here!! 
... 10% of its revenue is at stake 
.
? No way 
.
... But no, instead of fixing their own issues, they've gotta go out there and bully everyone else 
... I mean, what's the point of that? 
. But at the same time, you can't blame 'em for wanting to regulate the tech industry and make sure their own interests are protected 
Back in my day, we didn't have all these tech giants just waiting to be regulated. It's like they're trying to strangle the competition or something.
china is getting all up in microns biz 'cause they wanna assert their dominance in the global tech industry and i gotta say, it's kinda scary 
I mean, I get that China's trying to assert its dominance in the tech industry, but can't they just chill for a second and let Micron do their thing? 
Is it just a big power play, or is there actually some real concern about national security here? 
, but what if it means losing out on some serious cash 
. It's like, can't we all just get along 
...
they've been super open about their business practices and haven't done anything malicious from what i can see... it's not cool when countries start playing these kinda games with multinationals 
I'm all for fair trade practices, but this feels like Beijing is trying to exert its influence over everyone else. 
. They're like, "Hey, we need you foreign companies to come and invest in our country!" But then they start being all super strict about who can sell them what 
. And with China's economy facing some major challenges right now... it's gonna be interesting to see how this all plays out 
still, i'm curious to see how this whole thing plays out... maybe we'll get some new rules in place for tech companies and actually something will be done about cybersecurity