China creates $47 billion investment fund to develop semiconductor industry amid tariffs & sanctions

In recent years, the United States has blocked China from accessing critical technology needed to develop semiconductors read more The US and China are engaged in a ‘chip war’ (Photo: Reuters) Amid an escalating trade war with the United States, China has floated a $47.5 billion investment fund to develop its domestic semiconductor industry. In recent years, China has moved towards self-sufficiency in the domain of semiconductors as the United States has blocked China from accessing some of the Western critical technology needed to develop chips. The US has also sought to pursue allies the Netherlands and Japan to do…