Did you know?16 Oct 2022 19:13
'Lots of people don’t know what happened yesterday.
To put it simply, Biden has forced all Americans working in China to pick between quitting their jobs and losing American citizenship.'
https://twitter.com/jordanschnyc/status/1580889341265469440
This adds to inflation:
'China, in response, slammed Washington’s new regulations, and warned the move will only add further stress on already-strained global supply chains. “Not only will such unilateral measure harm the further global supply chain of the semiconductor industry, more importantly it will create an atmosphere of uncertainty, which will negatively affect the trust, goodwill, and spirit of cooperation that the players of the global semiconductor industry have carefully cultivated over the past decades,” said the China Semiconductor Industry Association (CSIA), as cited by Reuters.
The trade group also stressed the Biden government should “adjust the course of action” and instead follow the framework of global trade forums, such as the ones set by the World Semiconductor Council and the Government Authority Meeting on Semiconductor. Following the Department of Commerce’s announcement, the White House was forced to quickly lift some of the restrictions on foreign chip makers over fears of a complete supply chain meltdown.'