China scuttles a billion microchip deal led by Intel

Beijing is deeply upset by a US-led set of international restrictions on the sale to China of the most advanced computer chips, which have military applications, and of the factory equipment to make such chips. Those restrictions were put in place in October. In a separate action, President Joe Biden last week ordered a ban on certain new investments in sensitive Chinese technology. China has condemned the moves as an effort by Washington to throttle its tech development and slow its economic growth. Despite the raw tensions between the countries, their economies remain highly interconnected, dependent on one another's supply…