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SPOOPYSKELETON
There's more to this:
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But this doesn't actually make sense.
80% of stockmarket trading volume is accounted for by retail investors, not fund managers.
And if the US starts sanctioning SMIC and YMTC, their survival and eventual success becomes even more important to the Chinese government and private Chinese technology companies.
So we can expect even more resources to flow to SMIC and YMTC, until they become self-sufficient from any US-origin technology.
And this money would come from from the government, investment fund managers, venture capital funds and retail investors etc etc