Jul 28, 2023 08:34 PM
FINANCE
Global Supply Chain Split Would Cost China Tech Spillover Benefits, WTO Deputy Chief Says
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Zhang Xiangchen, World Trade Organization Deputy Director-General, says China must elevate its position in the global value chain amid a growing threat of decoupling between the world’s two biggest economies. Photo: VCG
On the afternoon of July 6, U.S. Treasury Secretary Janet Yellen landed in Beijing for a four-day visit. The reception awaiting her was anything but relaxed.
A few days prior on July 3, China’s Ministry of Commerce announced export controls on key materials used in semiconductor including gallium and germanium. It came on the heels of regulations issued by the Netherlands on June 30, which imposed additional export restrictions on advanced semiconductor manufacturing equipment.
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