Semiconductor stocks across the globe – in Hong Kong, Europe and certainly in the US – are tumbling after the Biden administration on Friday unveiled new restrictions on technology exports to China which are meant to undercut Beijing’s ability to develop wide swaths of its economy, from semiconductors and supercomputers to surveillance systems and advanced weapons. As noted earlier, the US Commerce Department on Friday unveiled sweeping new regulations that limit the sale of semiconductors and chip-making equipment to Chinese customers, striking at the foundation of the country’s efforts to build its own chip industry. The agency also added 31 organizations to its unverified list, including Yangtze Memory Technologies and a subsidiary of leading chip equipment maker Naura Technology, severely limiting their ability to buy technology from abroad. The move is the Biden admin’s most aggressive yet as it tries to stop China from developing technological capabilities it sees as a threat. And, as Bloomberg notes, depending on how broadly Washington enforces the restrictions, the impact could extend well beyond semiconductors and into industries that rely on high-end computing, from electric vehicles and aerospace to simple gadgets like smartphones. The two countries are now officially in an “economic war,” Dylan Patel, chief analyst at SemiAnalysis, said. A Chinese analyst said there is “no possibility of reconciliation” any longer. Chinese state media and officials over the weekend raged against the action, warning of economic consequences and stirring speculation about potential retaliation. He Xiaopeng, chairman and CEO of Chinese EV maker Xpeng, warned last month that escalating US restrictions on chip exports will set back the nation’s autonomous driving sector. https://www.zerohedge.com/markets/no-possibility-reconciliation-any-longer-us-and-china-are-now-officially-economic-war
One Reply to ““No Possibility Of Reconciliation” Any Longer: US And China Are Now “Officially In An Economic War” by Tyler Durden”
After Obomber had Xi and his wife over for a taxpayer funded feed, when xi left and after obo and Micky waved bye bye,y all come back now y hear ,obo said to the journo lurking about like a dog under the table for scraps ,if he spent do exactly as we say we will crush him. So that’s where it came from Belief in freedom and democracy. Respecting others differences All that .
After Obomber had Xi and his wife over for a taxpayer funded feed, when xi left and after obo and Micky waved bye bye,y all come back now y hear ,obo said to the journo lurking about like a dog under the table for scraps ,if he spent do exactly as we say we will crush him. So that’s where it came from Belief in freedom and democracy. Respecting others differences All that .