Xi's dreams dashed as Biden to sign bill to help end chip shortage and weaken China's grip
The bill, which would provide $52billion (£43billion) in subsidies to US chip makers, passed a House and Senates vote last week. While it may take some time before the semiconductor shortage gets eased, the Chips and Science Act looks set to boost US competitiveness in the global chip market and could help the US fly ahead of China in this domain. Mr Biden is now expected to sign off the bill into law, to slash reliance on Chinese manufacturers which have been holding a tight grip on the market.