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Wars typically dislocate market valuations and supply chains across many industries; in today's environment, the main clash is between two leading economies. While not a physical war itself, the United States and China are battling in what is being called the 'Chip War.'
Chinese ambassador Xie Feng says Beijing ‘cannot simply sit idly by’ as Washington considers new restrictions on investment and AI chip exports, but analyst says China’s only weapon is its big market.
The meeting took place amid considerations of implementing further restrictions and the semiconductor lobby group, representing the industry's call for a pause on additional curbs.
With Taiwan as a “choke point” in US-China competition, the Biden administration is adopting a two-prong strategy to compete or contain China in terms of technology. The first part would shift production partly out of Taiwan to “onshoring” or “friend-shoring” allies willing to de-risk dependence on Chinese production.
Kuensel Online