Chip war between USA and China heats up.
This week, US President Joe Biden and his Chinese counterpart Xi Jinping shook hands for the first time in years. The two met at the G20 summit in Indonesia at a time of increased tension between the two world powers. The US recently introduced far-reaching restrictions on exports of advanced chips and chip production machinery to China.
Those restrictions are expected to deal a major blow to China’s chip sector, which is highly dependent on foreign technology. US think tank CSIS recently called the new policy a stranglehold on China’s tech sector: a “strangulation with intent to kill”. But the chip sector in general is not left unscathed either, with international companies downgrading their expectations for next year because of missed sales from China.
Read the full article here: Daan van Monsjou – tweakers.net