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China bans export of rare earths processing tech over national security
(www.channelnewsasia.com)
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China doesn't need to produce the fast chips because their comparative advantage is in quantity manufacturing.
Sure thing, until you realize that China isn't that big at all as the 5th largest producer of semiconductors behind Taiwan, Korea, Japan and the USA:
https://worldpopulationreview.com/country-rankings/semiconductor-manufacturing-by-country
China is listed as the largest and 5th largest in your source