Crucial in the manufacture of many key goods, chips and the materials used to make them, are the subject of an ongoing trade war between China and the West.

On Thursday Beijing banned the export of technology used to extract and process rare earth metals -- a vital component in the chip-making process.

The technology has been added to a list of items that can't be sold abroad for national security reasons.

So what does this mean for the global supply of advanced chips and semi conductors?

(Picture: Toshiba Electronic Devices & Storage Corp.'s inverter board displayed at the Semicon Japan exhibition in Tokyo, Japan, on Wednesday, Dec. 13, 2023. Picture Credit: Getty Images).