US politicization of tech supply chains is both risky and costly
BEIJING, May 25, 2021 /PRNewswire/ A news report by China.org.cn on US politicization of tech supply chains is both risky and costly.
In 2019, the Trump administration unleashed its tech war on China, with the goal of blocking China s development in high tech sectors by preventing targeted companies from procuring components manufactured in the United States.
As the White House ramped up its hostility toward Beijing, it intensified its measures. The most notable target was the Chinese telecommunications firm Huawei, which was first placed on the commerce department s entity list putting it under export controls. Later, it was also subjected to the foreign direct product rule, which unilaterally banned overseas companies who use U.S. patents in their own semiconductor production from supplying the company.
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The Covid-19 pandemic has exacerbated the pre-existing global shortage of semiconductor chips, which power everything from smartphones to vehicles. Geopolitical issues between the US and China have impeded international trade and driven the need for self-sufficiency, which China is pursuing.
ALB: What kind of work has kept you busy in the past year?
Christopher Bickley: Apart from some of the first-of-its-kind IPOs, such as Semiconductor Manufacturing International Corporation’s RMB46.2 billion IPO on the SSE Star Board, I‘ve also handled a number of significant M&A and privatisations such as Haier Electronics Group’s scheme of arrangement.
Ensuring high-quality client services and creating contingency plans during covid time have also kept me busy. My roles as the head of office and board member mean I work closely with my fellow partners and department heads to ensure our clients’ needs are met, and our lawyers and staff are well-equipped during these challenging times.