Can China thwart America’s two-pronged campaign to stifle Chinese chipmaking?
Andrew McCollum
US President Joe Biden displays the signed CHIPS and Science Act of 2022, during an event in Washington, DC, on August 9, 2022.
Synopsis
Microchips figure among the seven “core technologies” that China aspires to master. But a massive US semiconductor subsidy programme will complicate its efforts. It will not only make the US a more competitive place to invest in chip manufacturing, but will also effectively force participating firms to choose between the US and China.
Promoting the semiconductor industry is a key priority for Beijing. Microchips are among the seven “core technologies” the country aspires to master, according to a 2021 economic blueprint. The scandal-struck “Big Fund” set up to invest in the industry has sucked up more than 300 billion yuan since 2014. But a massive U.S. semiconductor subsidy program that became law earlier this month will further complicate China’s efforts.That’s partly
BY
Caixin Global
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