What do US curbs on selling microchips to China mean for the global economy?

The US has taken unprecedented steps to limit the sale of advanced computer chips to China, escalating efforts to contain Beijing's tech and military ambitions. The moves are designed to cut off supplies of critical technology to China that may be used across sectors including advanced computing and weapons manufacture. The crackdown marks the most significant action by Washington against Beijing on technology exports in decades, escalating a trade battle between the world's two most powerful economies. After the export controls, Apple reportedly put on hold plans to use memory chips from China's Yangtze Memory Technologies in its products. The Nikkei newspaper said Apple had planned to use the chips in iPhones sold in China.