Date: 2024-08-16 Page is: DBtxt003.php txt00026636
TECHNOLOGY
US -V- CHINA
Raimondo Says Huawei’s Chip Breakthrough Is Years Behind US Tech
US -V- CHINA
Raimondo Says Huawei’s Chip Breakthrough Is Years Behind US Tech
Gina Raimondo Photographer: Christinne Muschi/Bloomberg
Original article: https://www.bloomberg.com/news/articles/2024-04-21/tiktok-set-to-remove-executive-tasked-with-fending-off-us-claims
Peter Burgess COMMENTARY
Early in my adult life I worked in London and socialized with a lot of very rich young people compared to myself. I was quite good at activities like rugby and cricket, but my knowledge about 'wealth' was minuscule.
My formal academic education was about as good as it could be ... but the reality was that I never learned anything about what it took to create and increase family 'wealth'.
I am not at all unhappy with the good work that I have done during my career. I can say with some confidence that a lot of people are better off ... indeed alive ... because of the part I have played to a variety of interventions. I consider this to have been worth doing, but it did rather little to increase my financial wealth.
I have not been able to describe what is the difference between myself and those that accumulate a lot of personal wealth. Part of the reason has something to do with the corporate culture in the industry where someone is working and the function you play in that industry.
There are massive differences between three main classes of people ... the owners of the economic activity, the managers of the economic activity and the people that 'do' the economic activity.
Peter Burgess
- Huawei unveiled smartphone powered by homegrown chip
- US urging its allies to heighten export controls on China
April 21, 2024 at 7:00 PM EDT
US Commerce Secretary Gina Raimondo said Huawei Technologies Co.’s latest phone shows that China remains behind on cutting-edge chip technology.
In an interview with CBS News’ 60 Minutes, Raimondo downplayed the company’s claims of a breakthrough and said the technology gap shows the Biden administration’s success in imposing export controls on China.
While Raimondo was visiting China in August, Shenzhen-based Huawei unveiled a smartphone powered by a homegrown advanced 7-nanometer chip, technology that’s generations ahead of where the US hoped to halt China’s advances.
“It’s years behind what we have in the United States,” Raimondo said in the interview broadcast Sunday. “We have the most sophisticated semiconductors in the world. China doesn’t. We’ve out-innovated China.”
Raimondo has vowed to take the “strongest possible” action to protect US national security, and Commerce Under Secretary Alan Estevez has said that Huawei’s chipmaking partner Semiconductor Manufacturing International Corp. “potentially” violated US law. The Biden administration is considering blacklisting Chinese companies it suspects could make chips for Huawei.
When Huawei Shocked America With a Smartphone
WATCH: In August 2023, Huawei unveiled a new smartphone with 5G capabilities and a cutting-edge processor, raising questions about the effectiveness of US-led controls.
The global chips race heightened after Russia invaded Ukraine, when the US and its allies ramped up export controls on semiconductors to Moscow. Raimondo said the curbs were effective, citing reports that Russians were taking semiconductors “out of refrigerators, out of dishwashers” for use in military equipment.
“It’s absolutely the case that our export controls have hurt their ability to conduct the war, made it harder,” Raimondo said.
Raimondo’s department — once known for a secretary who struggled to stay awake on the job — has taken on a pivotal role in the Biden administration’s China strategy, including efforts to keep the most-advanced technology out of Chinese hands.
After getting the Netherlands and Japan on board with some of the curbs last year, and then tightening the US rules in the fall, Raimondo is pressuring those two countries — plus South Korea and Germany — to further limit China’s access to foreign technology.
Her department’s also in charge of doling out grants and loans worth more than $100 billion to boost domestic semiconductor manufacturing, while also corralling allies to rein in China’s own chipmaking and AI ambitions.
US Hands Out Money in Semiconductor Push ... More than 600 firms are vying for $39 billion in Chips Act grants Source: Commerce Department
Note: Amounts represent preliminary agreements that could still change and don’t include loans and tax credits that some companies will win in addition to direct grants.
Raimondo has spent recent weeks unveiling multi-billion-dollar awards from the 2022 Chips and Science Act for Intel Corp., Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co., and it set to announce another for Micron Technology Inc. this week. The federal funding has spurred more than $200 billion in private semiconductor investment since President Joe Biden took office, and more than 600 firms have expressed interest in the grants, which are nearly 85% allocated. More From Bloomberg
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