US-China ‘cold war’ over chips has a lesson

During my recent visit to many American cities, the most-talked about global subject was not the Russia-Ukraine conflict, but the 'Chip war'. The Joe Biden government has taken a bold step to prevent selling advanced chips or its technology to Chinese firms engaged in Artificial Intelligence and supercomputing activities. Even American allies, such as South Korea and the Dutch chip-making machinery equipment giant ASML Holdings, have instructed their American staff to not interact with Chinese customers. In America, many commentators have interpreted this move as the official beginning of the Cold War-II. According to the latest report by McKinsey, the…