LINE

    Text:AAAPrint
    Economy

    China sues U.S. in WTO over chip export control measures

    2022-12-13 09:32:15Global Times Editor : Li Yan ECNS App Download

    China took legal action against the U.S. in the WTO over chip export control measures on Monday, China's Ministry of Commerce (MOFCOM) said in a statement posted on its website. Filing a lawsuit with the WTO is a way of seeking to address Chinese concerns through legal means, and a necessary way to defend China's legitimate interests, the ministry said.

    "In recent years, the U.S. has been generalizing the concept of national security and abusing export control measures, which hinders the normal international trade in chips and other products, as well as threatening the stability of the global industrial chain and supply chain," the MOFCOM statement said.

    It noted that the move is a typical trade protectionism practice as it disrupts the international economic and trade order, violates international economic and trade rules as well as basic economic laws, and harms the global interests of peaceful development.

    The ministry urged the U.S. to give up its zero-sum game mindset, correct its wrongdoings in a timely manner, and stop disrupting trade in high-tech products such as chips, so as to maintain normal economic and trade exchanges between China and the U.S., and maintain the stability of the global supply chain for important industrial goods such as semiconductors.

    In its latest move, the U.S. government announced a broad set of technology export controls in early October, including a ban on shipments to China of certain semiconductor chips made anywhere in the world using U.S. equipment.

    The move has caused harm for the global supply chain, and the ban also backfired among American semiconductor producers.

    By 2025, U.S. companies could lose 18 percentage points of global market share and 37 percent of their revenues if the U.S. completely bans semiconductor companies from selling to Chinese customers, effectively causing a technology decoupling from China, according to a report by Boston Consulting Group.

    The free fall in revenue would inevitably lead U.S. semiconductor companies to make severe cuts in research and development and capital expenditure, resulting in the loss of 15,000 to 40,000 highly skilled jobs in the U.S. semiconductor industry, the report noted.

    MorePhoto

    Most popular in 24h

    MoreTop news

    MoreVideo

    LINE
    Back to top About Us | Jobs | Contact Us | Privacy Policy
    Copyright ©1999-2022 Chinanews.com. All rights reserved.
    Reproduction in whole or in part without permission is prohibited.
    [網上傳播視聽節目許可證(0106168)] [京ICP證040655號]
    [京公網安備 11010202009201號] [京ICP備05004340號-1]
    主站蜘蛛池模板: 南投市| 安义县| 荥阳市| 石楼县| 沁源县| 宁蒗| 开封县| 平南县| 浦东新区| 理塘县| 贵州省| 镇坪县| 尼木县| 昌吉市| 视频| 花莲市| 洛浦县| 陕西省| 盐亭县| 定安县| 桂平市| 分宜县| 页游| 海南省| 浮山县| 洛南县| 阳谷县| 龙井市| 交城县| 元谋县| 洮南市| 洛南县| 普兰店市| 永福县| 泰宁县| 淮阳县| 隆德县| 石家庄市| 巴彦县| 石台县| 含山县|