America’s industrial policy advocates see China as a technological juggernaut whose governance the United States must emulate or become a declining power. But that’s not the case in Beijing, which is frustrated by its second-tier semiconductor industry.
President Biden summoned the leprechaun of China’s technological superiority Tuesday as he signed Congress’ $280 billion computer chip subsidy bill into law. China has overtaken the US in R&D, he claimed, and is “trying to get way ahead of us in making these sophisticated chips.” Beijing can be to attempt but it fights mightily even though it spends enormous sums.
https://www.wsj.com/articles/chinas-chips-are-down-semiconductors-subsidies-xi-jinping-joe-biden-11660163646 China’s Computer Chips Are Down