News Snapshot:
The push by US President Joe Biden to develop the domestic chip industry on US soil, including a special US$50 billion fund, does not pose an immediate threat to China even though Biden has cited the country as a reason for the initiative, analysts say. Biden on Monday highlighted the need for the US to increase spending on semiconductor manufacturing, making a reference to China, in a virtual meeting with tech and auto executives, including Alphabet CEO Sundar Pichai, Intel CEO Pat Gelsinger, General Motors CEO Mary Barra, Ford CEO Jim Farley as well as delegates from Taiwan Semiconductor Manufacturing...
