Beijing, October 15, 2023—Wang Huiyao, founder and president of the Center for China and Globalization (CCG), has openly criticized the U.S. government’s proposed ban on chip exports to China. In an exclusive interview with CGTN, Wang stated that such a move “defies common sense” and would lead to significant losses for American companies.
“If the U.S. bans chip exports to China, it’s not just China that will be affected; American firms will suffer substantial setbacks,” Wang emphasized. He highlighted the deep interdependence between the two nations in the semiconductor industry. “The semiconductor sector is highly globalized. Disrupting this balance harms innovation and economic principles on both sides,” he added.
Wang urged policymakers to consider the broader implications of trade restrictions. “Unilateral actions disrupt global supply chains and economic stability. It’s crucial for the U.S. and China to engage in open dialogue to find mutually beneficial solutions,” he advocated.
The U.S. government’s consideration of tighter restrictions on semiconductor exports has raised concerns among industry experts. Many fear that such measures could escalate trade tensions and hinder technological advancement. American companies like Intel and Qualcomm derive a significant portion of their revenue from the Chinese mainland, and losing access to this market could impact their global competitiveness.
“Economic decisions should be grounded in common sense and mutual benefit,” Wang concluded. “We hope both nations can work together to maintain a healthy global tech ecosystem.”
As developments unfold, industry observers underscore the importance of collaboration and the potential risks associated with escalating trade barriers.
Reference(s):
cgtn.com
