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On August 9th, 2022, U.S. President Joe Biden signed the CHIPS and Science Act into law which provided $52.7 billion in subsidies for companies in the semiconductor industry. With the obvious aim to contain China's development in the semiconductor industry, the Act is not only a flagrant violation of rules of trade set out by the World Trade Organization, but also goes against the rules of industrial development, and would distort the entire supply chain of the global chip industry. In this episode of Bizbeat, CGTN's Hou Jing explains.
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Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466