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Beijing says it rejects pending U S legislation to counter China

TechnologyBeijing says it rejects pending U.S. legislation to counter China Reuters 1 minute read Chinese Foreign Ministry spokesman Zhao Lijian attends a news conference in Beijing, China September 10, 2020. REUTERS/Carlos Garcia Rawlins China s foreign ministry spokesman Zhao Lijian said on Wednesday it rejected a pending U.S. bill to counter China, and that Beijing would safeguard its own interests. U.S. Senate Democratic Leader Chuck Schumer unveiled revised bipartisan legislation last week to approve $52 billion to significantly boost U.S. semiconductor chip production and research over five years to better compete with China. read more

Beijing says it rejects pending US legislation to counter China

Big and bold

Big and bold A couple of weeks back an emergency funding proposal was brought forward by US Senate Democratic Leader Chuck Schumer that will approve $52 billion in spending to significantly boost US semiconductor chip production and research over five years. With bipartisan support this proposal will be included in a much bigger bill that is set to approve $120 billion of spending on basic US and advanced technology research in a bid to better compete with China. Schumer said that with US manufacturers suffering badly from the on-going chip shortage it was critical that the economy didn’t continue relying on foreign processors. “This amendment will make sure that we don t have to, he said.

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