File picture of the SMIC booth at an exhibition in Shanghai, China. SMIC is China's biggest contract manufacturer of chipsets and a key pillar of Beijing's plans to achieve semiconductor self-reliance. – AFPPIXShares in China's biggest chip maker tumbled today on reports that Washington had imposed export controls on the company, the latest salvo in the battle for technological dominance over Beijing.
Advanced tech has become one of the many battlefronts that have opened up in the past few years as relations between Beijing and Washington plummet to their lowest levels since diplomatic relations were restarted in 1979. "The restriction, once implemented, will severely damage SMIC's existing and future manufacturing capabilities, and customer trust," Bernstein analysts led by Mark Li wrote in a note.
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