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How Taiwan War Hysteria Prompted US to Splurge $280 Billion on Microchip Industry_我的网站

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A | The Chips Act is "a pre-cursor to further escalations with China in order to flip this dynamic, knowing that the US will not be able to adequately defend Taiwan,” US-based financial commentator Tom Luongo tells Sputnik, referring to US-Chinese tensions over Taipei, which escalated after House Speaker Nancy Pelosi’s visit to the island last week.,"The US will defend Taiwan through a number of hybrid war tactics, including sanctions and tariffs as well as monetary policy, while simultaneously making like they can and will defend Taiwan militarily. For now, Taiwan is important, this bill is saying we need to ensure it is less important. This vulnerability, in my opinion, was deliberately pursued by forces within our government to lead us to this unfolding crisis. We always wanted a casus belli against China. Taiwan is the perfect trip wire for further war," Luongo explains.,He ventured to say that “it may even have been the reason” Pelosi visited Taiwan “to ratchet up the tension and ensure the bill’s passage,” adding that “at this point, things are so murky, trying to divine what anyone’s motivations are on Capitol Hill, other than surviving the mid-terms, is a fool’s errand.”,Earlier this week, US President Joe Biden signed a bipartisan bill that aims to boost the country’s competitiveness with China by investing $280 billion in domestic semiconductor manufacturing and science research.,Speaking at the signing ceremony outside the White House on Tuesday, Biden claimed that “the future of the chip industry is going to be made in America,” adding, “Today is a day for builders. Today America is delivering.”,Dubbed the Chips and Science Act, the bill includes more than $52 billion for US companies producing computer chips, as well as billions more in tax credits to encourage investment in semiconductor manufacturing.,WorldUS New Chips Law Will Undermine Global Supply Chains: Chinese Foreign MinistryYesterday, 12:00 GMT,The document also stipulates allocating tens of billions of dollars to fund scientific research and development and to spur the innovation and development of other US technology.,"Trade tensions with China and the war hysteria [around] Taiwan will make US susceptible to disruptions in chip availability that can have wide ranging disturbances across industries," says Dr. Sunita Raju, a professor of economics and Chairperson of the Indian Institute of Foreign Trade. "While the CHIPS Act is an effort to maintain technology leadership position of US, it is also an effort to stem the US lagging behind Taiwan, Korea and China in recent times in chip manufacturing.",The Chips Act is "a clear departure for US industrial policy to provide subsidies and incentives to a specific industry. The compulsion now is driven by geopolitical tensions (US-China trade war, China-Taiwan-US confrontation), strategic significance of chips in manufacturing across industries (particularly post COVID) and its applications for defence and national security concerns," says Dr. Raju.,The professor explains that the purpose is to attact investment from major chip manufacturers and establish semiconductor fabrication plants in the United States.,"The 'Fab less' model that the US followed in the past made US gain a dominant market position in the R&D, IP and design capability of the value chain of semiconductor industry but resulted in less than 12% in wafer fabrication (capital intensive) and 2% in Assembling, Packaging &Testing (Capital & labour intensive) (SIA, 2021). US share in global installed capacity of semiconductor industry is less than 12%, while the global sale of semiconductor sales (Fab less plus IDMs) is 48%. As a result, growth in installed capacity of US was outpaced by Asian countries," Dr. Raju explains.,Modi Vows to Develop India as Chip Hub as Gov't Sets $300Bn Target in Electronics Manufacturing 4 July, 20:01 GMT,Meanwhile, Luongo says that the bill “will have an effect on semiconductor production” in the US, but “the question is whether it is cost-effective to actually do it.”,“It was a strategic mistake to offshore all of our chip production. For everything outside of the bleeding edge in power management – phones, data centers, etc. – older technology is just fine. Remember that most of these big chips are designed here in the US, manufacturing happens overseas. […] The production of most of your iPhone happens here in the US, the assembly of the parts happens in China. This point is lost in all of the noise,” he points out.,Luongo describes the bill as “just a start” in terms of the US’ effort to get the better of China in the race to dominate the high-tech sector.,“The turnaround will take time certainly, there is no easy fix here (…) If the US is serious about gaining real market share and competitiveness in manufacturing, then a lot of roadblocks currently in place will need to end,” the commentator notes.,He went on to argue that the global market for chips currently looks “the way it does because of US technology barriers through trade deals, sanctions and the like.” Luongo adds that US foreign policy “will now hinge on continuing to try and delay and slow down the rise of competition” and that “being pushed out of markets like central Asia and falling behind in Africa, etc. isn’t a good sign.”,According to him, “the real problem now is that the US is going hyper-belligerent to maintain its control when it should have looked inward to solve its internal problems years ago. [Former US President Donald] Trump tried and failed to make meaningful reforms.”。 Islamabad, Oct 21 (UNI) In a major legal victory for the ruling coalition on Friday, the Election Commission of Pakistan (ECP), in a consensus verdict in Toshakana reference, disqualified former prime minister Imran Khan and ruled that the PTI chairman is no more a member of National Assembly.
Criminal proceedings will be initiated against the PTI chairman for misdeclaration, the verdict said.
The ECP stated that Imran Khan submitted a false affidavit and was found involved in corrupt practices under Article 63(1)(p).
Under the said article, a lawmaker is disqualified for the time being from being elected or chosen as a member of the Majlis-e-Shoora (parliament) or of a provincial assembly.
The decision was taken unanimously by the ECP’s five-member bench but the Punjab member Babar Hassan Bharwana was not present today as he was unwell.
"As sequel to our abovementioned findings, facts available on record and keeping in view the argument of learned counsel for parties herein, we are of the considered opinion that the Respondent has become disqualified under Article 63(1)(p) of the Constitution read with Section 137,167 and 173 of the Elections Act,2017, consequently he ceases to be a member of the National Assembly of Pakistan and his seat has become vacant accordingly," the ECP order stated.
"As the respondent has made false statements and incorrect declarations, therefore he has also committed the offence of corrupt practices defined under Section 167 and 173 of the Elections Act,2017, punishable under Section 174 of the Elections Act, 2017. Office is directed to initiate legal proceedings and to take follow-up action under Section 190(2) of the Elections Act, 2017."
The verdict was announced amid tight security in the Red Zone where at least 1,100 police officials were deployed under the command of a senior superintendent of police to control the law and order situation in the area. The officer was assisted by five superintendents and six deputy superintendents of police.
The ECP had reserved its verdict in the Toshakhana case on September 19 after arguments were completed from both sides. A five-member bench of the ECP, headed by Chief Election Commissioner Sikandar Sultan Raja, heard the case.
Fawad Chaudry said the Election Commission’s attitude had been the worst. “We never pinned any hopes on it.”
“This is a shameful decision. They have disgraced the 220-million-strong-nation.”
Meanwhile, PPP Chairman Bilawal Bhutto said that the Election Commission of Pakistan has found Imran Khan guilty of corrupt practices and now stands disqualified.
“He who would spread lies about the alleged corruption of his political opponents has been caught red-handed," Bilawal said.
Moreover, PML-N Vice President Maryam Nawaz demanded Imran Khan be arrested after he was found guilty of corrupt practices.
“Pakistan's first certified liar and certified thief disqualified with irrefutable evidence of theft,” the PML-N leader said.
She alleged that the husband and wife together looted the national kitty.
In August 2022, National Assembly Speaker Raja Pervaiz Ashraf sent a reference to the ECP under Articles 62A, 63A, and 223, seeking former prime minister Imran Khan’s disqualification in the light of the Toshakhana scam, according to Geo news reports.
The disqualification reference was filed by Ali Gohar Khan, PML-N’s Mohsin Nawaz Ranjha, and five others.
The assessed value of the gifts has been put at Rs 142,042,100. The gifts were received between August 2018 and December 2021.
According to PML-N MNA Ranjha, Khan concealed information about the gift of watches by Saudi Arabia’s Crown Prince Mohammad bin Salman in his statement of assets submitted in 2018-2019.
This withholding of information is tantamount to lying which, according to Ranjha, is a crime under Section 137.
UNI GNK。