On his visit to Beijing in July, Nvidia CEO Jensen Huang received a rock-star welcome as he announced to Chinese state media that Washington had assured the company that export licences for its H20 chips would soon be granted. Warmly greeted by Chinese entrepreneurs and government officials, Huang – who wore a Tang suit and addressed the audience with his rusty Mandarin at the state-backed China International Supply Chain Expo – earned national fame overnight. Just two weeks after Huang...