China condemned the United States's decision to restrict the sale of semiconductor components, the latest escalation in the two countries' rivalry in economic power and technological capabilities.
Chinese officials slammed the U.S. for its new export controls over the weekend, claiming that the new restrictions will hurt both economies. These remarks are the latest shots fired in the U.S. and China's economic war while the Commerce Department attempts to hamper China's access to military-grade technology.
"Out of the need to maintain its sci-tech hegemony, the U.S. abuses export control measures to maliciously block and suppress Chinese companies," said Foreign Ministry representative Mao Ning on Saturday, according to Voice of America."It will not only damage the legitimate rights and interests of Chinese companies but also affect American companies' interests."Mao also alleged that the U.S.
Analysts see the export restrictions as the latest gesture in growing economic tensions between the two countries."This is the U.S. salvo against China’s efforts to build its domestic tech capabilities,” Dylan Patel, chief analyst at SemiAnalysis, told Bloomberg. “It’s the US firing back, making clear they will fight back.”
Congress has taken additional actions in the last year to boost U.S. research into technology in order to beat China. Most significantly, it passed the CHIPS Act in August, a bill that provides hundreds of billions of dollars to semiconductor factories in the U.S. The restrictions on chips have already led to a significant loss for the affected Chinese companies. Shares in top Chinese chip companies, including Semiconductor Manufacturing International Corp., lost $8.6 billion in market value on Monday, according to the Financial Times.The Commerce Department announced on Friday that it was adding rules to restrict the sale of semiconductor components to China.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
STEVE HILTON: Biden's energy policies are endangering the United StatesFox News host Steve Hilton tears into President Biden's decision to release 10 million barrels from the Strategic Petroleum Reserve in response to OPEC+'s decision to cut oil production.
Leer más »
Are Nasal Sprays the Future for the COVID Vaccine?Are nasal sprays the future of COVID-19 vaccines? That’s certainly the hope of many researchers working on new kinds of inoculation. Nasalvaccines were recently approved in China and India for use as a booster dose. MedTwitter
Leer más »
Haiti wants U.S., Canada to lead anti-gang strike force, diplomat saysThe United States and Canada should take the lead in forming a strike force to confront Haitian gangs that have created a humanitarian crisis by blocking access to a key fuel terminal, Haiti's ambassador to the United States said on Monday.
Leer más »
Man took magic mushrooms and then assaulted United flight attendants, authorities sayAuthorities said Cherruy Loghan Sevilla admitted to taking the psychedelic drug before boarding the flight from Miami to Washington, D.C.
Leer más »
United Launch Alliance's debut Vulcan mission slips to 2023 -CEOUnited Launch Alliance has pushed the debut launch of its new to early 2023 at the request of one of its customers, the company's chief executive said, further delaying a benchmark mission crucial to the Boeing-Lockheed joint venture's launch business.
Leer más »
United Methodists are breaking up in a slow-motion schismThe United Methodist Church, long a mainstay of the American religious scene, is beginning to fracture
Leer más »