US sanctions help vaporize chunk of Chinese chip barons’ wealth
, YMTC, China's biggest domestic flash memory supplier, was placed alongside 35 other local operations on the US Department of Commerce's so-called Entity List .
The American blacklist requires impacted companies to receive a special license to import certain US technologies. For YMTC, this means it isn't just blocked from accessing advanced chip-making equipment in tools, it's also banned from procuring other kinds of supplies it needs to produce flash memory chips, unless it obtains a special license from the US. In some cases that'll mean when Satan goes to work on a snowplow.
The other issue troubling Chinese chipmakers is that the country's economy has taken a significant hit from the COVID-19 pandemic as well as plummeting global demand. Economists have projected that China's economic growth will range between 2.8 percent and 3.2 percent, a level not seen since 1976. This has promptedWhether the People's Republic of China can boost its economy enough to counteract the impact of US sanctions remains to be seen.
to see if China will change its tune around policy when a new economic minister is appointed early next year. ®
Belgique Dernières Nouvelles, Belgique Actualités
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