Apollo economist: China's high-tech export surge poses new threat to U.S. firms

Apollo Global Management's chief economist Torsten Slok argues that China's export boom has shifted from low-cost goods to advanced technology like EVs and semiconductors, creating a 'China Shock 2.0' that threatens American companies. Chinese high-tech exports surged nearly 41% in the first seven months of the year, with semiconductor exports doubling. Unlike the earlier shock, tariffs may not protect U.S. firms because China now controls cutting-edge production itself.