China Halts Export of Crucial Chip Materials, Boosting Swiss Watch Exports

China's exports of gallium and germanium, essential minerals for semiconductor manufacturing, dropped to zero in August after Beijing imposed export curbs citing national security concerns. China produces the majority of these minerals globally, but the restrictions indicate its willingness to retaliate against US export controls amid a simmering tech war. The move may have a double-edged impact on the Chinese economy and accelerate the shift of supply chains out of the country. Prices for gallium have fallen in China due to export controls, while the spot price of germanium has slightly increased due to tight supply.