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☆ Trump win and threat of more tariffs raises expectations for more China stimulus
▼ + stars: | 2024-11-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

On the campaign trial, Trump threatened to impose additional tariffs of 60% or more on Chinese goods sold to the U.S. She expects a stimulus package of more than 10 trillion yuan ($1.39 billion), with about 6 trillion yuan going towards local government debt swaps and bank recapitalization. More than 4 trillion yuan will likely go towards local government special bonds for supporting real estate, Su said. That divergence in stock performance indicates China's stimulus "will be slightly bigger than the baseline scenario," said Liqian Ren, who leads WisdomTree's quantitative investment capabilities. She estimates Beijing will add about 2 trillion yuan to 3 trillion yuan a year in support.

Persons: Zhu Baoliang, Trump, Su, Yue Su, —, Liqian Ren, Ren doesn't, Biden, Chris Miller, That's, China's, Zhiwei Zhang Organizations: Bund, Trump, Citigroup, U.S, Economist Intelligence Unit, National People's Congress, Huawei, Republicans, Senate, NBC, Republican Party, Emergency Economic, Trade Locations: Shanghai, China, Hong Kong, Beijing, U.S

☆ Trump calls Schiff and Pelosi ‘enemy from within’
▼ + stars: | 2024-10-20 | by ( Jack Forrest | Veronica Stracqualursi | ) edition.cnn.com time to read: +5 min

CNN —Donald Trump called Democratic Reps. Adam Schiff and Nancy Pelosi each “an enemy from within,” even as the former president’s Republican allies attempt to argue that his previous comments labeling political opponents as such are being misinterpreted. But when you look at ‘Shifty Schiff’ and some of the others, yeah, they are, to me, the enemy from within,” Trump said in an interview on Fox News’ “MediaBuzz” that aired Sunday. Fox News’ Howard Kurtz gave Trump an opportunity to clarify — “He’s a political opponent of yours, but is he an enemy?” — to which Trump responded, “Of course he’s an enemy, he’s an enemy.”Trump also called Pelosi an “enemy from within,” falsely claiming the then-speaker of the House had the opportunity to protect the US Capitol on January 6, 2021. “I did not hear President Trump in that clip say he’s going to sic the military on Adam Schiff. He’s talking about using the National Guard and the military to keep the peace in our streets.”And Virginia Gov.

Persons: Donald Trump, Adam Schiff, Nancy Pelosi, Shifty Schiff, ” Trump, Fox News ’ Howard Kurtz, Trump, Pelosi, ”, “, California Democrat “ didn’t, Chris Miller, ” Miller, Maria Bartiromo, Kamala Harris ’, Harris, Tim Walz, Mike Johnson, ” Johnson, CNN’s Jake Tapper, Tapper, Schiff, Johnson, That’s, Jake, Glenn Youngkin, ” Tapper, Adam Schiff … who’s, CNN’s Priscilla Alvarez, Eric Bradner, Ali Main, Daniel Dale, Zachary B, Wolf Organizations: CNN, Democratic, Republican, Fox News, Capitol, National Guard, California Democrat, Capitol Police Board, US Capitol Police, Trump, Minnesota Gov, GOP, Union, Louisiana Republican Locations: California, ”, “ State, Louisiana, Virginia

☆ America's chipmaking push will continue no matter who gets elected
▼ + stars: | 2024-10-17 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +9 min

US efforts to produce semiconductor chips will continue regardless of who wins the election. AdvertisementNo matter who wins the presidential election this November, President Joe Biden can rest easy knowing one thing: The US's chip manufacturing push isn't going anywhere. The US has seen its share of overall chip production fall from 37% of the world's supply in 1990 to 12%. While many factories remain under construction, the federal funding has already helped boost US chip production. According to a report published last year by the trade and lobbying group Semiconductor Industry Association and Oxford Economics, the US semiconductor industry will face a shortage of 67,000 workers by 2030, including technicians, computer scientists, and engineers.

Persons: Harris, Trump, —, Joe Biden, Biden, Kamala Harris, Donald Trump, Stephen Ezell, Anna Kelly, Kelly, Arizonans, Chris Miller, Mark Muro, Dylan Patel, SemiAnalysis, Ezell, Muro Organizations: Service, Trump, Information Technology, Innovation Foundation, ITIF's Center for Life Sciences, Biden, Republican, Intel, American Enterprise Institute, Brookings Metro, Apple, Nvidia, Democratic, Semiconductor Industry Association, Oxford Economics Locations: Arizona, USA, China, Taiwan

Trump's team had asked Chutkan to compel prosecutors in special counsel Jack Smith's office to provide them with additional evidence, including "all information" about foreign interference and influence efforts in the 2020 election. It's part of the Trump team's attempt to present Trump's concerns about mass voter fraud — which were roundly rejected by independent arbiters and courts — as "reasonable" and grounded in reality. Judge Tanya Chutkan pushed back on Trump's claims on Wednesday in an order that rejected all but three of his 14 categories of requests for additional evidence. Trump's state of mind is essential to the case, and Smith's team has alleged that Trump "knew" his election lies "were false." The Supreme Court gutted part of Smith's case over the summer with its ruling on presidential immunity, but the case against Trump is — very slowly — churning towards a potential trial.

Persons: WASHINGTON, Donald Trump, Tanya Chutkan, Chutkan, Jack Smith's, Trump, Trump’s, of National Intelligence John Ratcliffe, Mark Milley, Chris Miller, Mike Pence, Pence, Merrick Garland, Smith's, Trump “, Joe Biden’s, Steven Cheung, Witch Hunt Organizations: Capitol, Trump, Biden Administration, of National Intelligence Locations: Black, Detroit, United States, Trump's

☆ Jensen Huang says if 'anything were to happen' in Taiwan, Nvidia could have GPUs made somewhere else
▼ + stars: | 2024-09-12 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +5 min

When Nvidia CEO Jensen Huang spoke to Goldman Sachs CEO David Solomon on Wednesday, the banker raised this relationship — and how precarious it is due to rising tension in the Taiwan Strait. This story is available exclusively to Business Insider subscribers. Last year, Huang said he felt "perfectly safe" relying on manufacturing in Taiwan. Though Samsung has some of the same capabilities required to produce the most advanced chips, TSMC is the clear leader. Huang went on to praise TSMC for scaling up to meet the demand that created Nvidia's "hockey stick" earnings in recent years.

Persons: —, Jensen Huang, Goldman Sachs, David Solomon, Solomon, Huang, Dylan Patel, Chris Miller, TSMC, Patel Organizations: Service, Nvidia, Wednesday, Business, Samsung, Intel, SEC, Blackwell Locations: Taiwan, Asia, China, Pacific, TSMC, South, Arizona

☆ Watch out for the semiconductor supercycle before you start buying stocks like Nvidia
▼ + stars: | 2024-08-02 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +6 min

Nvidia stock prices have more than doubled since the start of the year, and in June, it briefly became the world's most valuable company. "The boom in spending on AI infrastructure has been a major growth driver for the chip industry," Miller said. Zuckerberg even touted Meta's growing stockpile of Nvidia chips in an interview with The Verge in January, adding that he expects the company to own more than 340,000 Nvidia H100 GPUs by the end of 2024. The boom in data center builds has also spurred significant chip demand. Amazon, Meta, and Google are all designing their own AI chips.

Persons: —, Chris Miller, Miller, Meta's Mark Zuckerberg, Tesla's Elon Musk, Zuckerberg, TSMC, Thomas Rupf, Josie Ananto, Parthenon's Ananto, Jensen Huang, Goldman Sachs Organizations: Service, Nvidia, The Fletcher School, Tufts University, Business, New York Times, Bank Asia, Nvidia Semiconductor, Big Tech, Meta, Google Locations: EY

☆ Trump 2.0 could go 'nuclear' on China trade, while economists say Harris would remain tough
▼ + stars: | 2024-07-24 | by ( Dylan Butts | ) www.cnbc.com time to read: +5 min

According to Prasad and other experts, Harris' approach to China would likely be similar to that of Biden. Trump's biggest diversion from Biden-era trade policy would likely be tariffs levied on China. The Trump administration reached a "phase one trade deal" with China in 2019, but few terms were honored and subsequent phases never materialized. Tech warwatch nowThe Biden administration also announced rules limiting U.S. investment in Chinese firms developing sensitive technologies, citing national security concerns. She said channels for the two countries to discuss policy issues decreased significantly during the Trump administration, whereas the Biden administration emphasized its diplomatic engagement efforts.

Persons: Donald J, Trump, Bill Pugliano, Donald Trump, Joe Biden, Eswar Prasad, Kamala Harris, Biden, Prasad, Harris, Biden —, Stephen Weymouth, Economist Stephen Roach, William Reinsch, Scholl, Reinsch, JD Vance, Arthur Dong, Chris Miller, Miller, Rorry Daniels Organizations: Van, Getty, House, CNBC, U.S, Cornell University, Trump, International Monetary, Georgetown University, Economist, Center for Strategic, International Studies, Beijing, Georgetown, Tech, Asia Society Policy Institute Locations: Grand Rapids , Michigan, China, Beijing, Ohio, Washington, U.S, Japan, Netherlands

☆ These two amusement park giants just merged. Rollercoaster fans are nervous
▼ + stars: | 2024-07-06 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +7 min

New York CNN —Six Flags this week completed an $8 billion merger with rival Cedar Fair to create the largest amusement park operator in the United States. The success of the deal will determine the future of these amusement parks, and diehard rollercoaster fans are watching carefully. Many amusement park fans are passionate about the parks’ design and history and notice the smallest of changes. He also worries the “beautiful” Cedar Fair parks will lose their distinct identities and become more like Six Flags. Halloween has become a primary visiting time for theme park fans, and there could be changes to these events.

Persons: Knott's Berry, Allen J, ”, Bill Kneass, Kneass, they’re, Chris Miller, Stan, Gary Rhodes, Richard Zimmerman ., Selim Bassoul, Berry, Matt Kaiser, “, There’s, Dennis Speigel, Chris Woronka, Looney, Michael Musil Organizations: New, New York CNN, Flags, Cedar Fair, Los Angeles Times, Six Flags Entertainment Corp, Disney, Universal, Six, Fair, Six Flags, Kmart, Walmart, Facebook, Park, Deutsche Bank, Warner Bros, Discovery, DC Comics, CNN, Warner Bros . Locations: New York, United States, California, New Jersey, Sandusky , Ohio, Buena Park , California, Bay Village , Ohio

☆ Work is getting really weird
▼ + stars: | 2024-07-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

The big storyBizarro workplaceLorenzo Matteucci for BILet's be honest: Work has gotten really weird. Workers hiring shadow stand-ins can be unqualified for their jobs, overwhelmed, greedy, or just lazy. Shadow stand-ins are typically paid a fraction of the salary earned by the actual employee. One employee also described to Rob struggling to deal with a shadow stand-in's sub-par work and eventually "firing" them. Getty Images; Alyssa Powell/BIMeanwhile, the people who are doing all the work themselves are having a tough time getting any recognition.

Persons: —, Lorenzo Matteucci, Rob Price, Rob, Alyssa Powell, BI's Aki Ito, Roaring Kitty, Bain, Chris Miller, Greg Peters, Ted Sarandos, Peters, Chelsea Jia Feng, Coach's, David Rosenberg, Donald Trump's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Grace Lett, Annie Smith, Amanda Yen Organizations: Service, Business, BI, Super, Facebook, Workers, Corporations, Getty, GameStop, McKinsey, Taiwan Semiconductor Manufacturing Company, Netflix, Walgreens, CVS, Rite, Wimbledon Locations: Chicago, India, Pakistan, China, Taiwan, New York, London

☆ What happens to AI progress if China invades Taiwan? A chat with 'Chip War' expert Chris Miller.
▼ + stars: | 2024-07-01 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +7 min

Apple, Nvidia, Qualcomm, AMD, and most other chip designers rely on Taiwan Semiconductor Manufacturing Company to make these crucial components. And its location on the island of Taiwan, which China claims, puts the tech industry and AI's future in a precarious geopolitical position. AdvertisementChris Miller is the author of "Chip War: The Fight for the World's Most Critical Technology." When people understand the true significance of TSMC, they're often pretty shocked at how precarious the chip situation is. But suppose you think there's some chance that it happens.

Persons: Chris Miller, we're, TSMC, couldn't, That's, they've, they're, There's, Jensen Huang Organizations: Service, Apple, Nvidia, Qualcomm, AMD, Taiwan Semiconductor Manufacturing Company Locations: Taiwan, China, Russia, Ukraine, South China, Philippines, Beijing, Taiwan Strait, Washington, Tokyo

The U.S. has passed a series of export controls starting in October 2022 aimed at restricting China's access to advanced chip technology, particularly those used in AI applications. According to data from tech consultancy Omdia, China consumes nearly 50% of the world's semiconductors as it is the biggest market for assembling consumer devices. But, soon after, it was reported that Nvidia was working on a new chip made for China. The company did not respond to a request for comment on their plans for the China market. An analysis of Huawei's Mate 60 Pro smartphone by TechInsights revealed an advanced chip made by China's top chip maker, SMIC.

Persons: Wong Yu Liang, Chris Miller, William B, Bailey, Donald Trump, TechInsights Organizations: AMD MU, P Global, Intel, Broadcom, Qualcomm, Marvell Technology, U.S, The, CNBC, Nasdaq, Intelligence, Micron Technology, AMD, Nvidia, Huawei, Semiconductor Industry Association, America's Micron, country's Cyberspace Administration, Micron Locations: China, The U.S, U.S, Washington, Xi'an, Netherlands, Beijing

☆ The world's biggest chipmaker just got hit by an earthquake. That could mean production delays for customers like Apple and Nvidia.
▼ + stars: | 2024-04-03 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

A powerful earthquake in Taiwan forced chip maker TSMC to suspend operations at some sites. That could mean production delays for companies like Apple, which relies on its chips. Worst-case scenario, disruptions to TSMC could mean production delays for its existing products and a later rollout of its new devices. AdvertisementApple and Nvidia didn't immediately return to requests for comment from Business Insider when asked how TSMC's production disruptions would impact their businesses. Analysts say halting production could also damage some of TSMC's most advanced chips, which require maintenance around the clock, further exacerbating production delays.

Persons: —, TSMC, Chris Miller, Nvidia didn't, Bum, Brian Tan, Miller Organizations: Apple, Bloomberg, Service, Taiwan Semiconductor Manufacturing, Nvidia, The New York Times, Business, Citi Group Locations: Taiwan, Hsinchu, United States

☆ The Books That Explain 2023 - The New York Times
▼ + stars: | 2023-12-03 | by ( Ezra Klein | ) www.nytimes.com time to read: +4 min

“Chip War” is a reminder of the physical artifacts that underlie what we so wrongly describe as the cloud. The title of Miller’s book is, for now, rhetorical, but I found myself wondering how long that would remain the case. There are more histories of this era of American politics than any bookshelf can hold. The apogee of America’s welfare state, with all its limitations, was coterminous with the height of the Cold War. But I believe a new one has already begun, and it is being shaped more by China than by any American politician, including Trump or Biden.

Persons: Chris Miller’s, ” Miller, Miller, Biden, Trump, Gary Gerstle’s, ”, Gerstle Organizations: Deal, Biden, Soviet Union, Trump Locations: United States, China, Taiwan, Outmaneuvering China, Soviet

☆ U.S. chip export controls will stay in place regardless of who wins 2024 election, says Chris Miller
▼ + stars: | 2023-11-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. chip export controls will stay in place regardless of who wins 2024 election, says Chris MillerChris Miller, Tufts associate professor and ‘Chip War’ author, joins 'Squawk Box' to discuss the state of the U.S.-China tech war, the impact of U.S. chip export controls, the A.I. arms race between the U.S. and China, and more.

Persons: Chris Miller Chris Miller, Tufts Organizations: U.S, U.S . Locations: U.S, China

☆ The world will pay a high price if China cuts off supplies of chipmaking materials
▼ + stars: | 2023-10-11 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Last year, it accounted for 98% of the global production of gallium and 68% of refined germanium production, according to the US Geological Survey (USGS). “Refining technologies and facilities for processing gallium and germanium cannot be built overnight, particularly considering the environmental implications of their extraction and mining,” she wrote in July. Analysts from the think tank said China’s leading position in the aluminum industry has allowed it to establish a dominant share of global gallium production. According to the USGS, Russia, Japan, and Korea produced a combined 1.8% of global gallium in 2022. Last year, the US Defense logistics Agency introduced a program to recycle optical-grade germanium used in weapon systems.

Persons: Hong Kong CNN —, ”, Xiaomeng Lu, Marina Zhang, Zhang, Ewa Manthey, haven’t, Chris Miller, Gregory Allen, Nyrstar, ” Lu, Manthey Organizations: Hong Kong CNN, geotechnology, Eurasia Group, China, Geological Survey, University of Technology, “, ING Group, Center for Strategic, International Studies, Washington, Analysts, Corporation, CNN, Global, Wadhwani Center, AI, Technologies, CSIS, Rostec, Reuters, US Defense, Agency, Commerce Ministry Locations: China, Hong Kong, Beijing, United States, Europe, Japan, University of Technology Sydney, Kazakhstan, Hungary, Germany, Russia, Korea, Teck, American, Netherlands, Australia, ” Lu, Eurasia, Canada

CNN —Former President Donald Trump, in an interview with NBC’s Kristen Welker that aired Sunday on “Meet the Press” continued to make false claims around a variety of subjects including the 2020 election and the January 6 insurrection. The speaker of the House is not in charge of Capitol security. That’s the responsibility of the Capitol Police Board, which oversees the US Capitol Police and approves requests for National Guard assistance. The election was not rigged, and there is no evidence of any fraud large enough to have changed the outcome. Officials from the Trump administration’s Department of Homeland Security, along with state election officials, said in a statement after the 2020 election: “The November 3rd election was the most secure in American history.”This story will updated with additional fact checks.

Persons: Donald Trump, NBC’s Kristen Welker, Press ”, Trump, Pelosi, Nancy Pelosi, “, Chris Miller, ” Miller, Mark Meadows, Biden, “ Biden, Joe Biden, Jack Smith, Smith, General Merrick Garland, Garland Organizations: CNN, “, Press, Capitol, Capitol Police Board, US Capitol Police, National Guard, Trump, White House, Department, Trump Trump, Justice Department, Biden, Trump administration’s Department of Homeland Security Locations: Washington ,, Florida

☆ This 14-year-old kid helped animate 'Spider-Man: Across the Spider-Verse'
▼ + stars: | 2023-08-29 | by ( Lisa Respers France | ) edition.cnn.com time to read: +2 min

CNN —Preston Mutanga has found fame as a teen wunderkind whose creativity resulted in the ultimate gig. Mutanga told CNN that even as a youngster, he was in love with animation. They ended up inviting Mutanga to animate a Lego scene for the movie. “We didn’t know he was a 14-year-old kid at first. I’ve worked on the greatest movie of all time.”The DVD of “Spider-Man: Across the Spider-Verse” – the sequel to 2018’s Oscar-winning “Spider-Man: Into the Spider-Verse” – will be released on September 5.

Persons: CNN — Preston Mutanga, Mutanga, ”, “, ’ ” Kemp Powers, Phil Lord, Christopher Miller, Chris Miller, I’ve Organizations: CNN, Pixar

☆ 'Extraordinarily difficult' for Chinese firms to catch up in semiconductors, author says
▼ + stars: | 2023-08-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Extraordinarily difficult' for Chinese firms to catch up in semiconductors, author saysChris Miller, author of "Chip War," discusses the impact that U.S. export restrictions on China's semiconductor industry will have on the country's ability to catch up with other nations.

Persons: Chris Miller

☆ ‘An Act of War’: Inside America’s Silicon Blockade Against China
▼ + stars: | 2023-07-12 | by ( Alex W. Palmer | ) www.nytimes.com time to read: +3 min

With the Oct. 7 export controls, the United States government announced its intent to cripple China’s ability to produce, or even purchase, the highest-end chips. The logic of the measure was straightforward: Advanced chips, and the supercomputers and A.I. “The key here is to understand that the U.S. wanted to impact China’s A.I. The outcome will likely shape U.S.-China competition, and the future of the global order, for decades to come. No technology in the history of human civilization has ever matched the breathtaking ascent of computing power.

Persons: ”, Gregory C, Allen, ” Allen, C.J, you’d, would’ve, “, Chris Miller Organizations: United, Wadhwani, A.I, Technologies, Center for Strategic, International Studies, Evercore ISI, Moore’s, Fletcher School, Tufts University Locations: United States, Washington, China, Russia, Ukraine

☆ In ‘Across the Spider-Verse,’ 150 Spider-Man Variants
▼ + stars: | 2023-06-11 | by ( John Jurgensen | ) www.wsj.com time to read: 1 min

Producers and co-writers Phil Lord and Chris Miller said they used the multiplicity of Spider-Man to zero in on the identity quest of their main character, 15-year-old Miles Morales of Brooklyn. “He’s basically trying to assert his uniqueness amongst throngs, so there had to be a lot of them,” said Lord. Sony Pictures

Persons: Phil Lord, Chris Miller, Miles Morales, “ He’s, ” Organizations: Sony Pictures Locations: Brooklyn

☆ Russia's scramble to find microchips for its weapons hints at struggles the US and China could face in a future war
▼ + stars: | 2023-05-11 | by ( Stavros Atlamazoglou | ) www.businessinsider.com time to read: +7 min

Russia's scramble to find microchips for its weapons hints at struggles the US and China could face in a future war. Russian strikes and microchipsA Ukrainian military official with electronics from a destroyed Russian T-90M tank in Kyiv in March. Oleksii Chumachenko/Anadolu Agency via Getty ImagesWestern-made microchips and processors power many of Russia's weapon systems, even its most advanced missiles and aircraft. ASML is the only firm that produces extreme ultraviolet, or EUV, lithography machines, which are needed to make advanced microchips. A US-Chinese clash over Taiwan, or some other disruption, like a Chinese blockade, that halts exports of advanced semiconductors would affect numerous other industries.

☆ Fact-checking Trump’s CNN town hall in New Hampshire
▼ + stars: | 2023-05-10 | by ( Cnn Staff | ) edition.cnn.com time to read: +26 min

CNN —CNN hosted a town hall with 2024 Republican presidential candidate and former President Donald Trump on Wednesday night in New Hampshire. 2020 ElectionJust minutes after the town hall began, Trump claimed the 2020 election was “rigged.”Facts First: This is Trump’s regular lie. Trump claimed Wednesday that he got gas prices down to $1.87 – and “even lower” – but they increased to $7, $8 or even $9 under Biden. The Presidential Records Act says that the moment a president leaves office, the National Archives and Records Administration gets legal custody and control of all presidential records from his administration. First, there’s no provision for negotiating over Presidential records at the end of a term.

☆ Rihanna set to star in new ‘Smurfs’ movie
▼ + stars: | 2023-04-28 | by ( Marianne Garvey | ) edition.cnn.com time to read: +1 min

Superstar Rihanna is set to play Smurfette in the upcoming “Smurfs” animated film. “Getting to do animation is a fun journey for me,” Rihanna said. The “Smurfs” film franchise kicked off in 2011 with “The Smurfs,” starring Neil Patrick Harris. “The Smurfs 2” was released in 2013, followed by 2017’s “Smurfs: The Lost Village.”As for her acting career, Rihanna starred in 2012’s “Battleship” and appeared as herself in 2013 comedy “This Is the End.” She also appeared in “Ocean’s 8,” among television show appearances. The “Smurfs” movie hits theaters February 14, 2025.

☆ China's top chipmaker will 'struggle' to make cutting-edge chips competitively
▼ + stars: | 2023-04-28 | by ( Sheila Chiang | ) www.cnbc.com time to read: +5 min

China's largest chipmaker SMIC won't be able to produce cutting-edge chips competitively if it continues to be cut off from advanced equipment, analysts told CNBC. Vcg | Visual China Group | Getty ImagesChina's largest chipmaker SMIC won't be able to produce cutting-edge chips competitively if it continues to be cut off from advanced equipment, analysts told CNBC. Following the 2020 sanctions, the U.S. last year introduced sweeping export restrictions aimed at cutting China off from advanced chip tech and equipment. The Netherlands as well as Japan have reportedly followed the U.S. in imposing rules aimed at restricting China from accessing advanced chip tech. "Can SMIC produce in a commercially viable way scaled by the hundreds of thousands or tens of millions in some cases?

Beijing's retaliatory strategy against U.S. chip sanctions is a bigger worry. Taiwan Semiconductor Manufacturing has so far remained relatively unscathed since Washington stepped up sanctions to hobble China’s domestic semiconductor development. Second, even if Chinese companies account for just 11% of TSMC’s top line, its other customers are far more exposed to the People's Republic. How Beijing responds to American pressure will define the scope of TSMC’s recovery. In January, TSMC said its capital spending in 2023 would be between $32 billion and $36 billion, compared to $36.3 billion in 2022.

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