U.S. sanctions helped China become chip leader – Bloomberg
U.S. sanctions against Chinese technology companies have contributed to the active development of chip production in China, Bloomberg writes. Its growth rate is the fastest in the world. This strengthens the country's position in the global economy, in which it plays a significant role - chips are used in many industrial areas, including defense, advanced technology (unmanned vehicles, AI) and others. In 2020, the United States imposed sanctions on major Chinese companies, restricting the sale of their technology. China responded by actively developing its chip production, which began last year. To date, almost all of the fastest-growing manufacturers on the world stage working in this area have come from China, Bloomberg notes. This allowed the country to find itself in a winning position and increase the number of orders for chips from abroad when the coronavirus pandemic disrupted the work of foreign core businesses.