US bars 'advanced tech' firms from building China factories
Wednesday, 7 September 2022newsdesk
US tech companies that receive federal funding will be barred from building "advanced technology" facilities in China for 10 years, the Biden administration has said.
New Delhi, 07 September 2022
As per news report of BBC, the guidelines were unveiled as part of a $50bn (£43bn) plan aimed at building up the local semiconductor industry. It comes as business groups have pushed for more government support in an effort to reduce reliance on China. They are faced with a global microchip shortage which has slowed production.
Source - BBC
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