3_800x533_L_1412602648.jpg)
Proactive Investors - China’s largest chip maker, SMIC, is reportedly ramping up production of old chip technology, which is putting the US on alert.
According to Reuters, China is believed to be ready to invest US$144bn into its chip industry, which could see the US and other nations introduce further restrictions.
Under former president Donald Trump, the US put its foot on the neck of China’s tech ambitions through a series of measures, such as excluding Huawei Technologies, the world’s largest telecommunications firm, from its market.
In 2020, China had 9% of the global chip market, dominating the sector by flooding the market with cheaper products and essentially undercutting the competition.
Matt Pottinger, former deputy national security advisor under the Trump government, said China ramping up production of old chip technology would “give Beijing coercive leverage over every county country and industry”.