"Who's next?"   Is that a fair question to ask of any "foreign company" or of any Chinese-foreign JV for that matter?

Bloomberg explored that question in an article linked as follows:

Foreign Executives in China Ask ‘Who’s Next?’ After Bain Probe (msn.com)

From the article:

"Still, tensions between the US and China have continued to escalate over the control of crucial supplies of advanced semiconductors. Beijing in March launched a cybersecurity review of US chipmaker Micron Technology Inc., a move that exacerbated US-China tensions and which followed Washington-led efforts to contain China’s access to strategic technologies. China also passed a new counter-espionage law that expanded the list of activities that could be considered spying, raising new risks for foreign companies. 

Global investors remain wary of Chinese stocks despite evidence of the country’s improving economic growth and corporate earnings. Nervousness around geopolitics is limiting inflows and performance, with traders evaluating how China’s tense relationship with the US might deteriorate. "

Regardless of whether or not China's new counter-espionage law or "Washington-led efforts to contain China’s access to strategic technologies" will play out over time adversely to any or all China-foreign JVs in China, it still remains that the geopolitical vicissitudes that face any Chinese-foreign JV now and in the future will be a factor with potential significant bearing on the future success or failure of that Chinese-foreign JV, SPX being no exception.  Just something to continue to keep under close surveilance as we continue to navigate through these poorly charted waters without clearly reliable Sonar or other navigation aids to warn us of all the dangers lurking below the surface.

POET is Canadian and CelestialAI is a privately held U.S. company.  It is a little surprising to learn about the tech oriented U.S. companies that have the largest per centage stake in their revenues from operations in China. The link below from Yahoo enumerates the "top 10" in that category, none of which are names unrecognizable to those who read the business news in the U.S.

10 US Companies With Highest Revenue Exposure To China (yahoo.com)

Certainly investors who own stock in these 10 U.S. companies will be keeping a close eye on the geopolitical changes being fashioned now and those to be fashioned in the future as they mold the future of their investments.  

Micron (MU) that is mentioned in the "Who's next?" article from Bloomberg has a 57.1% revenue exposure in China.  What will be the number for POET Technologies 5 years from now?

And what new changes in the geopolitical fabric will have been patched in to the existing Canadian-China and US-China business climate by the year 2028?

On the other hand, and taking a more circumspect viewpoint, the most recent positive development for POET Technologies is that its announcement of sales to CelestialAI constitutes a business relationship with a US based company that should be a good omen for the future of the POET Starlight product and for POET in general and in a geopolitical situation both historically (and for the forseeable future) more stable and amicable to both parties in that business relationship as opposed to all of the potential hazards on the horizon for North American-Chinese JVs.  A good omen, indeed.