Pelosi Meets With Taiwan’s Top Chip Industry Leaders


(It's ALL about DEMOCRACY!)

The House speaker's trip came after Congress passed a bill that includes $52 billion to subsidize domestic chip manufacturing
by Dave DeCamp Posted onCategoriesNewsTags Taiwan

While in Taiwan House Speaker Nancy Pelosi (D-CA) met with the island’s top semiconductor industry leaders as the US is looking to gain an edge on China when it comes to chip manufacturing.

Pelosi’s trip came after Congress passed the CHIPS and Science Act, a massive $280 billion piece of legislation that includes $52 billion in subsidies for companies to build and expand chip manufacturing facilities.

Pelosi met with the chairman of Taiwan Semiconductor Manufacturing Co (TSMC), the world’s biggest chip manufacturer, to discuss the CHIPS and Science Act. The meeting signals that the US is looking to entice TSMC to open more facilities in the US with the subsidies included in the legislation.

TSMC is currently building a $12 billion semiconductor facility in Arizona, which is expected to be operational by 2024.

Pelosi said at a news conference in Taiwan on Wednesday that the CHIPS and Science Act means more cooperation between the US and Taiwan. “We just passed the CHIPS and Science Act. That is something that opens the door for us to have better economic exchanges,” she said.

While looking to boost its domestic chip production, the US is trying to hurt China’s ability to manufacture semiconductors with sanctions. The US is also pressing the Netherlands-based ASML Holding NV and the Japan-based Nikon Corporation not to sell the technology needed to manufacture semiconductors to China.

But US sanctions appear to have backfired as China’s chip industry is now the fastest growing in the world. According to Bloomberg, 19 of the world’s 20 fastest-growing chip industry firms over the past four quarters, on average, hail from China.

Pelosi’s husband, Paul Pelosi, has been under scrutiny for his trading of semiconductor stocks amid allegations of insider trading. In June, he purchased stocks in Nvidia, an American chip company. He then sold 25,000 shares of Nvidia stock at a loss the day before the House passed the CHIPS and Science Act. Overall, global semiconductor stocks took a hit due to Pelosi’s trip and the uncertainty it caused

* * * * * * *

ALL ABOUT DEMOCRACY!



Comments

Post a Comment

Popular posts from this blog

The State of Emergency, Coercive Medicine, and Academia

Image
The State of Emergency, Coercive Medicine, and Academia by   Maximilian C. Forte "Two weeks to flatten the curve,” is what we heard across Canada 1  just after March 11, 2020, when the World Health Organization unilaterally declared a global “pandemic” according to new criteria developed in 2009 that emphasized transmissibility over lethality. 2  We are now approaching two years of a crisis that is routinely and deceptively blamed on “Covid”. Politicians, public health officials, and the mass media have made persistent pronouncements that tended towards the inflation of grim numbers and the exaggeration of threats. 3 The State of Emergency and its Consequences Building on expanded threat perception, authorities have deliberately promoted fear, induced panic, and created stress. 4  With the public suffering an epidemic of fear bordering on mass psychosis, 5  states have multiplied and escalated the number and types of restrictions, few of which have the support of even a single pub
Read more

The Next Step for the World Economic Forum

Image
The Next Step for the World Economic Forum BY  ROGER KOOPS      FEBRUARY 20, 2022 I t has been obvious since early 2020 that there has been an organized cult outreach that has permeated the world as a whole. It’s possible that this formed out of a gigantic error, rooted in a sudden ignorance of cell biology and long experience of public health. It is also possible that a seasonal respiratory virus was deployed by some people as an opportunity to seize power for some other purpose.  Follow the money and influence trails and the latter conclusion is hard to dismiss.  The clues were there early. Even before the WHO declared a pandemic in March 2020 (at least several months behind the actual fact of a pandemic) and before any lockdowns, there were media blitzes talking about the “New Normal” and talk of the “Great Reset” (which was rebranded as “Build Back Better”).  Pharmaceutical companies such as Pfizer, Johnson & Johnson, Moderna, and Astra-Zeneca were actively lobbying governme
Read more

What the Media Is HIDING About Ukraine/Russia

Image
Thanks to CoCoLuv9491 for recommending this video... What the Media Is HIDING About Ukraine/Russia While the mainstream US media chant with one voice for war and to place full responsibility for the Ukraine crisis on Russia, a cursory investigation of NATO’s meddling in Ukraine’s affairs for more than a decade reveals how economic interests of weapons manufacturers and the fossil fuel industry have led to the military conflict we’re experiencing today. Jimmy and The Grayzone’s Aaron Maté ( https://mate.substack.com ) discuss western and NATO complicity in the war between Russia and Ukraine. Source: The Jimmy Dore Show
Read more