US bans tech firms from building facilities in China
By MYBRANDBOOK
The Biden administration has announced that US technology firms that receive government funding will be banned from building “advanced technology facilities” in China for 10 years.
The development comes under the US government’s near-$53 billion plan to scale up manufacturing of semiconductor chips which are predominantly produced in Asia. The US currently only produces about 10% of the world’s supply of semiconductors, most chips are manufactured in Taiwan and South Korea.
The US Chips and Science Act (Chips) is part of the American response to a long-running technological dispute between Washington and Beijing, as US firms demand more government support to reduce reliance on components produced in Chinese factories.
US commerce secretary Gina Raimondo, said, “We’re also going to be implementing the guardrails to ensure those who receive Chips funds cannot compromise national security. They’re not allowed to use this money to invest in China; they can’t develop leading-edge technologies in China; they can’t send the latest technology overseas.”
The global shortages of computer chips have caused large production delays for carmakers in the UK and beyond, as well as for technology companies and other manufacturers. The Chips Act commits a total of $280bn to hi-tech manufacturing and research, and is designed to increase the US’s competitiveness with China.
In addition, the industry has gained increased geopolitical prominence as China has begun asserting itself on the world stage under its president, Xi Jinping, including threatening Taiwan. This has led to investment in and expansion of semiconductor production in the US, as well as in Japan and the EU.
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
Icons Of India : NEERAJ MITTAL
He started his career as an IAS Officer in 1992. He has held various a...
Icons Of India : GAUTAM ADANI CHAIRMAN ADANI GROUP
Gautam Adani is the Founder and Chairman of the Adani Group, which ran...
ICONS OF INDIA : RAJESH NAMBIAR
Rajesh leads the company’s India associates and enhances relationshi...
HPCL - Hindustan Petroleum Corporation Ltd.
HPCL is an integrated oil and gas company involved in refining, market...
CSC - Common Service Centres
CSC initiative in India is a strategic cornerstone of the Digital Indi...
NIC - National Informatics Centre
NIC serves as the primary IT solutions provider for the government of ...
Indian Tech Talent Excelling The Tech World - NIKESH ARORA, Chairman CEO - Palo Alto Networks
Nikesh Arora, the Chairman and CEO of Palo Alto Networks, is steering ...
Indian Tech Talent Excelling The Tech World - Sanjay Mehrotra, CEO- Micron Technology
Sanjay Mehrotra, the President and CEO of Micron Technology, is at the...
Indian Tech Talent Excelling The Tech World - RAVI KUMAR S, CEO- Cognizant
Ravi Kumar S, appointed as CEO of Cognizant in January 2023, sets the ...