Xi Remade China's Tech Industry in His Own Image With Crackdown [Yahoo! Finance News]
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Source: Yahoo! Finance News
(Bloomberg) -- Chinese leader Xi Jinping has used policy, capital and outright decree to mold the world's No. economy in his own image. After over a decade in power, an intensifying struggle for tech leadership with the US and a sputtering domestic economy suggest he'll have to once again recalibrate the country's giant internet and manufacturing sectors.Most Read from BloombergThe 9-year-old leader has a complex relationship with his domestic tech sector. Xi has made science and technology pillars of his long-term vision for China's national wellbeing, and he's placed a priority on researching homegrown alternatives to foreign-made semiconductors to ensure reliable supply. The latest salvo: Beijing this week barred Micron Inc. memory chips from sensitive infrastructure applications.But under his watch, China's internet sector has also been put through a punishing, two-year crackdown curbing the excesses of so-called disorderly growth of capital. A dichotomy has emerged in his treat
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