Everand Logo

Welcome to Everand!

  • Beijing Review

    CHIPping Away At the Future?

    Sep 01, 2022 4 minutes
    By Li Wenhan
    Copyedited by Elsbeth van Paridon

    On August 9, U.S. President Joe Biden signed into law the CHIPS and Science Act of 2022, a bill including $52 billion in grants and incentives to revive domestic semiconductor manufacturing. The act stipulates “companies accepting the subsidies will be restricted from expanding their chipmaking capacity in China or any other foreign country of concern for 10 years.”

    The act will distort the global semiconductor supply chains and disrupt international trade, Wang Wenbin, a spokesperson for China’s Ministry of Foreign Affairs, said, adding its protectionist measures bear a strong geopolitical undertone and constitute yet another example of U.S. economic coercion.

    also showed its concerns over the issue,

    You’re reading a preview, subscribe to read more.

    More from Beijing Review

    Beijing Review5 min readWorld
    Why China Still Has Room to Grow
    The world economy is experiencing what the World Bank calls “the slowest half-decade of GDP growth in 30 years.” As some of China’s key growth catalysts weaken against this backdrop, a few stakeholders in the Western economy have become defeatist and
    Beijing Review2 min readIntelligence (AI) & Semantics
    The Rise of The Intelligent Economy
    As China continues its transition to higher-quality economic development, it is increasing its reliance on new quality productive forces, those driven by innovation and new technologies such as artificial intelligence (AI). In addition to lifting tra
    Beijing Review2 min read
    Working Weekends to Pay for Holidays
    International Workers’ Day is celebrated on May 1 each year, but even though employees around China will be taking a five-day break from Wednesday, May 1, until Sunday, May 5, only one of those days counts as a true day off work. Like many other holi

    Related Books & Audiobooks