linghao bao is a tech analyst at policy research firm trivium, china. hejoins me from shanghai.bbc. chris, if i can start with you. the us concerns about china advancing in chip technology, are they justified? well, there's no doubt that chinese firms have been making real strides in the past decade, especially in the sphere of chip design capabilities. and what you find historically is that whenever powerful countries have advanced computing technologies, they deploy them to intelligence and to military systems. so i think the us is not wrong to infer that as china makes more advances in chips and more advances in computing, it will try to apply

linghao bao is a tech analyst at policy research firm trivium, china. hejoins me from shanghai. thank you both for speaking to the bbc. chris, if i can start with you. the us concerns about china advancing in chip technology, are they justified? well, there's no doubt that chinese firms have been making real strides in the past decade, especially in the sphere of chip design capabilities. and what you find historically is that whenever powerful countries have advanced computing technologies, they deploy them to intelligence and to military systems. so i think the us is not wrong to infer that as china makes more advances in chips and more advances in computing, it will try to apply those to intelligence capability then to military systems, since that's what all great powers have tended to do in the past. linghao, if i can bring you in, how are the us efforts to try and prevent china from advancing and chip technology affecting chinese companies? i think the most famous example is huawei, right? the company was cut—off from getting advanced chips for a smartphone. and to give you

linghao bao is a tech analyst at policy research firm trivium, china. hejoins me from shanghai. i can start with you. the us concerns about china advancing in chip technology, are they justified? well, there's no doubt that chinese firms have been making real strides in the past decade, especially in the sphere of chip design capabilities. and what you find historically is that whenever powerful countries have advanced computing technologies, they deploy them to intelligence and to military systems. so i think the us is not wrong to infer that as china makes more advances in chips and more advances in computing, it will try to apply those to intelligence capability then to military systems, since that's what all great powers have tended to do in the past. linghao, if i can bring you in, how are the us efforts to try and prevent china from advancing and chip technology affecting chinese companies? i think the most famous example is huawei, right? the company was cut—off from getting advanced chips for a smartphone. and to give you a bit of context, like how impactful that was, at

linghao bao there, trivium china's senior analyst.his is bloomberg. ♪ oducing the new sleep number climate360 smart bed. only smart bed in the world that actively cools, warms and effortlessly responds to both of you. our smart sleepers get 28 minutes more restful sleep per night. proven quality sleep. only from sleep number. yvonne: here's your latest headlines. credit suisse is cutting more than 10% of its european investment bankers this year, adding to hundreds of job losses in london and zurich. the swiss lender has been reducing headcount after announcing plans to cut 9000 roles by 2025 last year. credit suisse is expected to report its second consecutive annual loss next month. jp morgan says this year's net interest income will be lower than expected as the economy shows signs of slippage. america's biggest bank sees nii at $73 billion this year, maloley $74.4 billion estimate. it follows a record hall of over $20 billion in the fourth quarter. jamie dimon says it remains uncertain what the ultimate effect of coming headwinds