China has agreed to work with Japan to promote practical cooperation in key economic and trade areas, including progress in the semiconductor industry.
The global geopolitical crisis has significantly affected the overall development of technology. The ongoing war between Ukraine and Russia, which is expected to take years to resolve, has widened the rift between the global military superpowers. In addition, the United States has significantly influenced other countries with high technological capabilities in Europe and Asia, bypassing Russia and China with respect to semiconductor cup development.
China fights back through Japan
The People’s Republic of China has been in conflict with the United States for many years over control of global semiconductors. Prior to the COVID-19 pandemic, the Trump administration initiated a series of measures to block Chinese tech companies from accessing United States-made semiconductor chips, among other technologies. As a result, Chinese-based tech companies including Huawei Technologies Co. have not been able to access key technologies from the United States and its allies.
In its defense, the United States government has cited security reasons, accusing Chinese counterparts of using their technologies to advance nuclear weapons progress. With China being accused of helping Russia with sanctions imposed by Western countries, allies of the United States have played with the White House card.
In the latest development, Chinese Commerce Minister Wang Wentao has asked Japanese officials to lift restrictions on semiconductor chip export controls. In particular, Wentao described Japanese semiconductor export control measures as acts of wrongdoing that seriously violated international economic and trade rules.
Wentao’s statements to Japanese Trade Minister Yasutoshi Nishimura were made on May 26 at the Asia-Pacific Economic Cooperation (APEC) conference in Detroit. Already, Japan and the Netherlands have played with the United States’ rules to sidestep Chinese demands on semiconductor chips.
Nevertheless, the G7 nations, led by the United States, agreed to reduce risk but not to isolate China.
As a result, the statement of the Chinese Ministry of Commerce on Monday Express that China is “willing to work with Japan to promote practical cooperation in key economic and trade areas”.
AI development as a big picture
The huge demand for artificial intelligence (AI) and supercomputers has increased the need for advanced semiconductor chips. evident from the high chip demand nvidia corporation (NASDAQ:NVDA) stock market which has climbed more than 166 percent year-to-date to a valuation of about $961.97 billion. In its latest quarterly earnings update, Nvidia founder and CEO Jensen Huang said the company is moving to ramp up chip production to meet high demand in the artificial intelligence market.
The Chinese government also wants to remain highly competitive in the technology industry, including the smartphone sector, 5G network development, the digital economy and artificial intelligence capabilities.
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