FT News Briefing The surprise winner of the US-China chip wars
Mar 13, 2024
The latest developments reveal how the EU and US are maneuvering to secure weapons for Ukraine amid ongoing conflicts. Meanwhile, China's economic strategies are faltering under local debt pressures. Interestingly, Malaysia has emerged as a surprising contender in the semiconductor industry, attracting foreign investment as companies seek alternatives amid US-China tensions. The podcast dives into challenges like talent shortages and competition from countries like Vietnam and India, reshaping the future of tech manufacturing.
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China's Conflicting Economic Policies
- China aims for 5% GDP growth but cuts local infrastructure spending.
- This contradictory approach creates economic uncertainty and may hinder growth.
Guizhou's Infrastructure Overspending
- Guizhou province, one of China's least developed, overspent on infrastructure.
- It allocated two-thirds of its GDP to fixed asset investment, building many bridges.
Malaysia Wins in Chip War
- Malaysia benefits from US-China chip war tensions, attracting semiconductor investments.
- Companies seek alternatives to China due to US sanctions.