The Biden Administration has been cracking down on China’s semiconductor industry, utterly crippling it, according to one analyst.
The Biden Administration has largely kept and extended Trump-era measures to limit China’s access to advanced semiconductors, as well as limit their ability to make their own. The measures appear to be having a devastating effect, according to Jordan Schneider, an analyst at Rhodium Group.
According to Schneider’s lengthy series of tweets, the Biden Administration gave Americans working in China’s semiconductor industry the choice between quitting or losing their American citizenship. The result was a mass walkout on the part of the engineers, leaving China’s industry reeling.
Only time will tell if China will be able to recover, but Schneider believes there is “no chance of survival.”