The Chinese Foreign Minister, Wang Yi, criticized the United States for its technological monopoly, arguing that this hinders China’s development. This occurs between the President’s reports Joe Biden The administration is pressuring allies to further limit China’s access to semiconductor technology.
What happened: Wang, during a press conference on the sidelines of China’s National People’s Congress, accused the United States of unfairly monopolizing the high end of the value chain, leaving China at the low end. This came in response to a question about the state of US-China relations, Bloomberg reported on Thursday.
“It just wants to prosper, but denies other countries legitimate development, where is the international fairness? If it persistently monopolizes the high end of the value chain and keeps China at the low end, where is the fairness and competition? ” Wang said Thursday.
Wang’s comments highlight ongoing tensions between the world’s two largest economies. This is happening as the Biden administration reportedly urges countries such as the Netherlands, Germany, South Korea and Japan to further tighten restrictions on China’s access to semiconductor technology.
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Wang, a member of the 24-seat Politburo, resumed his post later Qin Gang it was removed in July. Last year, Qin warned that escalating tensions between the United States and China could exceed any limits in the relationship. This warning came shortly after an alleged Chinese spy balloon disrupted a budding reconciliation.
Because matter: The United States has implemented various measures to curb China’s technological advances. This includes imposing restrictions on the export of high-powered AI processors and pushing allies to tighten restrictions on semiconductors.
Despite these efforts, China has made great strides in chip development, with its largest chipmaker, SMIC, producing more advanced chips despite US sanctions.
China has also taken proactive measures to support its AI sector, offering “cyber vouchers” to AI startups to address chip shortages caused by US restrictions. This ongoing technological competition between the United States and China has significant implications for global technological leadership and geopolitical dynamics.
Read more: China’s 2024 economic targets create a gap between domestic and offshore stocks
US-China Chip Photo by William Potter on Shutterstock
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