Computer chip ban signals new era as Biden and Xi meet The Associated Press

News Summary

  • Economic integration among these partners has become essential, as the U.S. export controls on advanced chips need support from other producers in Japan and the Netherlands.“All the great powers are restructuring international economic relations in ways they hope will improve their geopolitical position,” Miller said.
  • He pledged that China would move more aggressively to become self-reliant in producing semiconductors and other technologies.“In order to enhance China’s innovation capacity, we will move faster to launch a number of major national projects that are of strategic, big-picture and long-term importance,” Xi said.
  • They will use this technology to, in any number of ways, harm us and our allies, or our ability to protect ourselves.”Xi responded to the export ban in his statement at last month’s congress of the Chinese Communist Party, where he secured a third term as the country’s leader.
  • The U.S. and China have each identified the development and production of computer chips as vital for economic growth and their own security interests.“We’re going to do whatever it takes to protect Americans from the threat of China,” Commerce Secretary Gina Raimondo said in an interview.
  • The Chinese government has named the development of advanced computer chips that could handle everything from artificial intelligence to hypersonic missiles as one of its top priorities.
  • “Semiconductors are just one of many arenas in which trade, tech, and capital flows are being re-politicized due to great power rivalry.”
WASHINGTON (AP) The Biden administrations move to block exports of advanced computer chips to China is signaling a new phase in relations between the globes two largest economies one in which trade m [+5715 chars]