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The Israeli occupation targets Deir Keefa in South Lebanon with 2 surface-to-surface missiles
Philippe Lazzarini: The famine in Gaza is a direct result of banning food and other basic supplies for months including from UNRWA .
Philippe Lazzarini: The spread of famine can still be controlled by a ceasefire and allowing humanitarian organizations to do their work and reach starving people with aid.
The United Nations on the Israeli-induced famine in Gaza: The starvation of civilians for military objectives is a war crime.
UNRWA Commissioner-General Philippe Lazzarini: famine is now confirmed in Gaza city. This is starvation by design and manmade by the Government of Israel.
More than 30 people have been martyred in Gaza since Friday dawn in Israeli bombardment targeting refugee camps throughout the blockaded strip.
Al Mayadeen correspondent: The Israeli occupation forces are carrying out demolitions of residential buildings in Gaza's al-Tuffah neighborhood amid intensifying airstrikes.
Israeli media: A man is critically wounded from a shooting near Malachi Hashalom between Ramallah and Nablus, and ambulance crews are on their way to the scene.
Al Mayadeen correspondent: One person was martyred in an Israeli airstrike that targeted a motorcycle in southern Lebanon's Deir Saryan.
Al Mayadeen's correspondent to Southern Lebanon: An Israeli drone strike on a motorcycle in the town of Deir Saryan left one civilian injured

US microchip bill will disrupt global supply chains, int'l trade: Wang

  • By Al Mayadeen English
  • Source: Agencies
  • 10 Aug 2022 16:06
3 Min Read

The Chips and Science Act will have negative implications for China and other economies.

  • x
  • Chinese Foreign Ministry Spokesman Wang Wenbin
    Chinese Foreign Ministry Spokesman Wang Wenbin

The newly-adopted Chips and Science Act of 2022, which was passed by US President Joe Biden on Tuesday, not only holds the purpose to compete against China's technological innovation and market, but also a more troublesome role: According to Chinese foreign ministry spokesperson Wang Wenbin, the bill will disrupt global supply chains and hamper international trade. 

Wang asserted China's opposition to such behavior. 

See more: Is the Cold War Back?

On Tuesday, Biden signed the landmark bill which will allocate $52.7 billion to subsidize semiconductor production and research. 

"The United States stated that the act aims to increase the competitiveness of US technologies and the semiconductor production, however this act provides huge subsidies to US enterprises producing chips and introduces a differentiated policy of industry support, some provisions of which, among other things, restrict the normal investment and trade and economic activities of relevant Chinese enterprises, as well as normal scientific and technical cooperation between China and the US," Wang explained at a briefing. 

According to Wang, the ministry expects all these to "disrupt global supply chains and hinder international trade," asserting that "China is strongly opposed to this." 

Related News

US secretly putting trackers in AI chip shipments to China: Reuters

China warns foreign-made chips and software may enable data theft

He said that the United States is free to choose its own development methods, but the methods should not harm China's development and it must respect World Trade Organization rules and principles of transparency and non-discrimination, while also safeguarding global production and supply chains.

A 'once-in-a-generation' investment?

"The future is going to be made in America," Biden said, calling the measure "a once-in-a-generation investment in America itself."

Republicans, as well as Democrats, joined Biden on the White House lawn as the US President signed the CHIPS bill that was distilled years in Congress before getting approval. 

Attending the signing were the chief executives of Micron, Intel, Lockheed Martin, HP and Advanced Micro Devices. Furthermore, the governors of Pennsylvania and Illinois, in addition to the mayors of Detroit, Cleveland and Salt Lake City, and lawmakers were at the event. 

The shortage has been affecting everything from cars, weapons, and washing machines to video games: Thousands of cars and trucks remain parked in southeast Michigan awaiting chips.

This legislation will allow $200 billion over a decade to boost technology research that will compete with Beijing - however, Congress will need to pass separate appropriations legislation to fund those investments.

The Chinese Embassy in Washington said Beijing "firmly opposed" the bill as it strikes as a "Cold War mentality."

Read more: Intel invests in EU, fuels chips race with Asia

  • Microchips
  • Wang Wenbin
  • China
  • Joe Biden

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