China is ramping up production of semiconductor microchips, stoking Western alarm that Beijing could gain leverage over global manufacturing supply chains.
reporters Friday. “And we know there is a massive subsidization of that industry on behalf of the Chinese government, which could lead to huge market distortion, and so that’s why we’re focused on it.”in China at the outbreak of the coronavirus pandemic, when Beijing exposed the danger of overreliance on supply chains that run through China. Raimondo met with European officials to discuss trade and technology issues, while another U.S.
“There’s a widespread sense in the U.S. government that there are real economic security concerns if our manufacturing base becomes more dependent on chips that are made in China,” Chris Miller, an American Enterprise Institute nonresident senior fellow and the author of. “The administration has been debating what exactly to do about this.”
Chinese Communist Party authorities have used a flood of subsidies to orchestrate a surge in production of those chips for the stated purpose of gaining independence from foreign chip suppliers. That might sound like the kind of problem that policymakers would seek to address through tariffs or even bans on imports of those chips, but the structure of manufacturing supply chains resists such simple measures.
“We will compare notes in order to take measures forward to make our supply chains resilient,” EU Executive Vice President Margrethe Vestager told reporters alongside Raimondo. “And we have been coordinating from the very first day on how to avoid a subsidy race, make the best possible use of the incentives available for both the U.S. and Europe to increase our global footprint when it comes to semiconductors.
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