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China is gaining increasing confidence in the AI race. The Chinese government issued a directive requiring state-funded AI data-centres to use only domestically-manufactured AI chips, forcing foreign suppliers like Nvidia out of a critical market. This marks a stark escalation in Beijing’s drive for tech self-sufficiency and intensifies the U.S.–China high-tech rivalry.
US consumer sentiment has plummeted to its second-lowest level on record, now falling below the lows seen during the 2008 financial crisis.
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