Chinese Nationalism Squeezes Apple, Tesla as Local Tech Rivals Gain Ground

Apple and Tesla seeing significant sales declines recently in China amid rising nationalism and growing competition from domestic brands like Huawei and BYD
Huawei's new Mate 60 Pro smartphone is a major rival to iPhone, benefiting from bans on American products
Tesla facing intensifying competition in EV market from local players like BYD that are cheaper
China aiming to achieve 5% annual growth in technology to reduce reliance on foreign products
Growing pressure from Beijing policies to promote domestic tech companies and squeeze out Western firms