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Officials debate semiconductor competition and the Development Finance Corporation’s role in countering China
Summary
In questioning the assistant secretary, a senator contrasted the U.S. CHIPS Act with Chinese industrial policy, cited a claimed $50 billion Chinese semiconductor investment, and pressed the administration on using the Development Finance Corporation and other tools to offer partners alternatives to Chinese projects.
A senator used a hearing to press an assistant secretary on economic levers the U.S. can use to counter China’s influence, focusing on semiconductor competition and the role of the Development Finance Corporation (DFC).
The senator contrasted the CHIPS Act and U.S. semiconductor efforts with what he described as China’s longstanding industrial strategy. He told the committee China has had ‘‘a chips act in place for…
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