American technology companies will not be able to build advanced manufacturing facilities in China for 10 years.
What is known
US companies facingshortage of semiconductor products, they wanted to receive government subsidies for the development of local chip production in order to reduce dependence on supplies from other countries. Gina Raimondo, the United States Secretary of Commerce, said that in order to protect national security, such companies will not be able to build advanced manufacturing facilities in China for 10 years. But they are allowed to expand existing semiconductor factories.
Over the past 30 years, American productionchips has been significantly reduced. Now the United States produces only 10% of the global volume of semiconductor products. In 1990, the US share was 40%. The Chip Act should change the situation, which involves investing $ 52 billion in the development of the industry. By the way, the Chinese Embassy in the United States has already criticized the law.
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