Biden’s export controls are a different animal entirely. The goal is not to benefit American companies, but to hurt Chinese ones, for reasons of national security. An administration official recently confirmed this explicitly. The cares less about U.S. companies’ profits than the U.S.’ technological lead. In fact, the stocks of chipmakers like Nvidia and AMD already fell back in September, when it became apparent they’d be restricted from selling chips to China. But national security overrides the need for modestly higher profits for a few companies.
This is a return to the Cold War economic strategy, where the U.S. and its allies actively tried to limit exports of technology to the Soviet bloc. […]
In other words, U.S. high-tech companies — and companies from all developed countries — should realize that the China market is not nearly attractive as they thought it was. Even if the U.S. doesn’t decide to restrict exports of some high-tech product, China will now absolutely refuse to be dependent on a foreign supplier for that product. So if your business plan depends on selling some specialized, high-end machine tool or electronic component to China, you can probably just delete that plan right now. The great dream of finding riches in the Chinese market will increasingly be confined to producers of goods that neither side views as military useful — like luxury handbags, or soybeans.
High-tech companies relocating sales and operations out of China will also probably cause some of these companies’ suppliers and customers to follow suit. Economic agglomeration effects may soon act only within the world’s two great manufacturing blocs — one agglomeration in China and another in the developed world. From an economic standpoint, this is horribly inefficient, but in an era when war and the threat of war are stalking the globe, economic efficiency is hardly policymakers’ chief concern.
第二百四十一集《八分》「防弹少年团是谁，他们为什么这么火？」：
于是，今年就出现一个重要的在这方面的话题。以后，是否在流行文化产业上，就分割成两个平行世界，也许好莱坞不那么在意中国市场了，而在这方面，他们的灵感来源恰恰是防弹少年团，因为防弹少年团好像证明了，一个流行文化产业里的成功案例是可以不用靠中国市场，光靠称霸全球就够了的。
By the way, an interesting detail of hiring foreign engineers to build up domestic industry from the same article by Noah:
In fact, hiring foreign engineers to build up domestic industry has a long and storied history. One of the most famous examples, detailed in the book How Asia Works, was how Korean companies hired retired Japanese engineers to move to Korea and teach companies like Hyundai and Samsung how to make cars and electronics. Japanese companies, which traditionally give out promotions and raises based only on seniority, used to force workers into retirement at 60 to avoid having them become too much of a financial and managerial burden; this left them with a number of good working years left and nothing much to do. Korea took advantage, and soon Korean companies were outcompeting their Japanese counterparts.