iTWire - US gives chip firms another year to ship tech to China: report
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Friday, 25 August 2023 08:29
US gives chip firms another year to ship tech to China: report Featured
By Sam Varghese
South Korean and Taiwanese chip companies have obtained an additional year's extension to ship advanced chip technology and related equipment to China, the Nikkei Asia website claims.
The report said this would undermine US efforts to restrict China's bid to bolster its semiconductor industry, but prevent disruption in the global supply chain.
The US issued an order in October 2022, blocking the export of high-end semiconductors to China. However, Samsung Electronics and SK hynix were given one year to continue investing in their China operations.
At the same time, Taiwan Semiconductor Manufacturing Company, the world's biggest fab, was granted a one-year licence to ship US chipmaking equipment to its expanding plants in China.
The Nikkei report pointed out that of the US$570 billion in global chip sales in 2022, about a third was accounted for by China. Beijing had also overtaken Tokyo in chipmaking capacity in 2021, and only trailed South Korea and Taiwan.
The report also highlighted the fact that about 40% of SK hynix's DRAM production capacity was based in China which meant that global supply of computers and other electronic devices could have witnessed major disruptions without the US granting these export exemptions.
When the American ban on shipments of high-end chips to China was announced in October last year, prominent economist David P. Goldman warned that the new rule would affect the US more in the long run.
Goldman, editor of the Asia Times website, claimed the modest subsidies extended by the US Government to the chip industry would be outstripped by the harm caused to capital investment and research and development in Western industry by a factor of five or more.
The US has also imposed additional bans, this time on American investment in firms it claims could help boost Beijing's armed forces, with the aim being to block access to technologies around AI, quantum technology and semiconductors. This prohibition was announced in August.
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