07/28/2022 Source:  Newsweek

The Bipartisan CHIPS Act—and a United U.S.— Are China’s Biggest Fear | Opinion

Author: KEITH KRACH
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The Bipartisan CHIPS Act—and a United U.S.— Are China’s Biggest Fear | Opinion

In the 21st century, there’s no bigger challenge to the U.S. and the free world than China, and technology is the main battlefield. The Chinese Communist Party leader Xi Jinping is obsessed with the semiconductor industry because it’s at the heart of our way of life.

The CCP is propping up China’s semiconductor manufacturing by committing $1 trillion over the next 10 years. Xi knows that dominating this sector is the key to advancing his brand of authoritarianism around the globe. That’s why he is stacking the deck in favor of Chinese companies, making it much harder for American companies to compete.

The CHIPS Plus bill takes the technological advantage away from China Inc. and returns it to the United States. The Chinese leader is so worried about the implications of the CHIPS Plus bill, his minions are lobbying against it. That should tell you how consequential this legislation is.

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