Loading ...Thanks to corporate puppet Nixon, in 1972 and 1979 (our peak Chinas bottom) a dumb Congress, and Americans that don’t care where their consumer dollars go. (It was Japan before China) To the new enemy that they all created. Nixon’s 1972 visit to China ushered in a new era of U.S.-China relations and effectively removed China as a Cold War foe.
I remember thinking, when the USSR broke up, fake rivalry not a shot fired, that China would be the new fake rivalry. To maintain a war economy. We now also war against the weather economy.
Evidently this is a sign of reversal of the past. And the globally promiscuous corporations are having trouble getting away with the past behaviors. And or, TPTB think China is wealthy or ripe enough now to play war games with. Like lending someone money, so you can play cards with them.
The Biden administration’s new restrictions on doing business with China are sending shock waves through the global semiconductor industry, with chip-equipment makers girding for perhaps the most painful fallout.
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China is pouring billions of dollars into developing a domestic semiconductor industry that’s less dependent on the rest of the world, but those chipmakers still need to purchase highly specialized equipment from suppliers in the US, Europe and other parts of Asia.
The restrictions hit when the industry was already suffering a downturn, shifting from a worldwide shortage of chips during the pandemic — when demand for electronics skyrocketed — to a glut in a matter of months as demand cooled, reflecting the boom-and-bust nature of the sector. The Philadelphia Stock Exchange Semiconductor Index has dropped 12% since the restrictions were announced. The index is now down more than 44% this year.
Chip Industry Braces for ‘Heavy Blow’ From China Export Curbs (msn.com)