April 17, 2024
KCNA Ministry of Foreign Affairs (EN)

Chinese Criticism about New American Act: Too Much of Geopolitical Hue

Date: 21/08/2022 | Source: Ministry of Foreign Affairs (EN) | Read original version at source

Not long ago, the U.S. president Biden signed what is called “Chips and Science Act”.

According to the act, the U.S. would take such “protective measures” as providing a massive subsidy of US$ 52 billion to the domestic semiconductor manufacturers, and lowering or exempting investment tax for them.

The issue here is that the act has a provision whereby the enterprises that are to enjoy the benefits of such “protective measures” must agree on the point of no manufacturing of precision semiconductor chips in China.

The act has in itself the sinister design of the U.S., and it has now provoked a backlash from China.

The spokesperson of the Chinese Foreign Ministry said that the American “Chips and Science Act” is too much of geopolitical hue and serves as another example of American blackmail in the field of economy and emphasized that the U.S. should not place an obstacle to the routine bilateral economic, commercial and sci-tech exchange and cooperation and moreover, should not infringe upon legitimate right to development of China .

He went on to note that China maintains development of country and nation by dint of its own might and no restriction or pressure would hinder the sci-tech development of China nor break its stride of industrial progress.

Major Chinese media also censured the U.S. saying that its main purpose is to place an obstacle in the way of its potential competitor, and such is a reflection of base American mentality borne out of waning confidence about the competition with China.

It also commented that the U.S. is seeking division of camps in the field of semiconductors and deliberately scheming to break China – the world’s biggest market - off the industrial chain, and warned that such an act would inflict harm not only on the other side but also on itself.

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