Professor Wen Yi elaborated on how state capacity, industrial policy, and innovative capacity have shaped the economic miracle of China. He believes that the...
I think that the U.S. was thinking that they could pull the plug and prevent China from gaining enough resources, labor and capital to manufacture advanced semiconductor technology, and lock them out of the global chain through sanctions.
Fortunately for China and the rest of the world, the U.S. waited a little too long to begin “decoupling”, that China was able to amass enough natural resources, money, workers and scientific knowledge to start up their own semiconductor manufacturing, and while it isn’t quite as good as Taiwan’s or the U.S., it’s now an unstoppable juggernaut that will more than likely eventually leave the U.S. and Taiwan’s comprador ambitions in the dust.
The sanctions and locking out of China from many markets and mechanisms of course will hurt China for a while, but it’s now just another jumping obstacle rather than an impenetrable wall.
I think that the U.S. was thinking that they could pull the plug and prevent China from gaining enough resources, labor and capital to manufacture advanced semiconductor technology, and lock them out of the global chain through sanctions.
Fortunately for China and the rest of the world, the U.S. waited a little too long to begin “decoupling”, that China was able to amass enough natural resources, money, workers and scientific knowledge to start up their own semiconductor manufacturing, and while it isn’t quite as good as Taiwan’s or the U.S., it’s now an unstoppable juggernaut that will more than likely eventually leave the U.S. and Taiwan’s comprador ambitions in the dust.
The sanctions and locking out of China from many markets and mechanisms of course will hurt China for a while, but it’s now just another jumping obstacle rather than an impenetrable wall.