China’s Xi is ‘absolutely obsessed’ with the semiconductor business, says former U.S. State Department Under Secretary of State Keith Krach
Keith Krach, chairman of Krach Institute for Tech Diplomacy and former U.S. State Department Under Secretary of State for Economic Growth, joined CNBC’s Capital Connection to discuss the CHIPS and Science Act and the United States’ chip export controls on China.
Krach discusses how chip manufacturing industry is the most important industry in the world for national security & global economic security and why the onshoring of TSMC’s state-of-the-art fab was a game-changer.
The chip manufacturing industry is the most important in the world for natl security & global economic security.
General Secretary XI is obsessed w/ the semiconductor business & has readied a $1.43B support package for Chinese chip manufacturing/production.
America must lead. pic.twitter.com/HKDUD40q6g
— Keith J. Krach (@KeithJKrach) January 27, 2023
The $12 billion onshoring of TSMC has led to over $300 billion in announced US investments that will boost semiconductor production, build supply chain resilience, and expand training for job creation within the industry.
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