China’s Huawei is making business resilience its top priority with a push to develop its software capabilities as it seeks to overcome US restrictions that have devastated its smartphone business.
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A US car industry group on Monday urged the government to help as it warned the global semiconductor shortage could result in 1.28 million fewer vehicles built this year.
US President Joe Biden on Thursday promised to outspend China on innovation and infrastructure to prevent it from overtaking the US to become the world’s most powerful country.
China has blasted US President Joe Biden’s administration for imposing new restrictions on national tech champion Huawei Technologies, saying the US “isn’t a reliable country that is to be trusted”.
The Biden administration this week amended licences for companies to sell to China’s Huawei Technologies, further restricting companies from supplying items that can be used with 5G devices, sources said.
The Biden administration will soon have to settle a bitcoin fight it didn’t even start, and its decision could have far-reaching implications for the cryptocurrency industry.
China has pledged to boost spending and drive research into cutting-edge chips and artificial intelligence in its latest five-year targets, laying out a technological blueprint to vie for global influence with the US.
The Biden administration is moving to put semiconductors, artificial intelligence and next-generation networks at the heart of US strategy towards Asia.
For US politicians, China’s potential to dominate cutting-edge technologies poses one of the biggest geopolitical threats of the next few decades. President Xi Jinping is similarly worried the US will block China’s rise.
Huawei has taken the wraps off its latest high-end foldable smartphone, hoping to stake out a place in a fast-expanding category despite dwindling expectations that the US will roll back sanctions anytime soon.