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China Says Biden’s New Chip Technology Curbs Will Harm Recovery

  • Supercomputer and AI computing components will be cut off
  • Chip stocks are already reeling from a slump in demand
Bloomberg business news
China Says Biden’s New Chip Curbs Will Harm Recovery
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China criticized expanded US restrictions on its access to semiconductor technology, saying they’ll harm supply chains and the world economy.

President Joe Biden administration announced the export curbs on Friday, escalating tensions between the two countries and adding complications for an industry faced with slumping demand.