Why China's Chip Industry Won't Catch America's

In the 1980s, the U.S. was consumed with fear that Japan would become the preeminent power in manufacturing and technology. Those fears never came to pass. Today the same fears are focused on China. The Middle Kingdom appears to be an even more daunting foe, with its enormous foreign reserves, fast-growing economy, oceans of scientists and engineers, and enormous subsidies to high-tech companies. How real is the China threat?

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