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00:00[CC may contain inaccuracies] Peter what do we know at this point yet. There's a lot to unpack in this story. Maybe a little bit of background. First one way of course is the enormous telecommunications company in China that has been at the center of China U.S. tensions for many years. It was blacklisted by their Trump administration and 2019. That cut off its ability to buy advanced chips from the U.S. that it needs for many of its products including smartphones and telecom equipment. So what would the reporters have found in this story is that there is a chip startup pics w that is building the facilities to be able to make its own chips. And they plan on supplying walkway that the company B W is based in Shenzhen where what we as it's being financed by the Shenzhen government it has ambitions to make some of the advanced chips that would help Norway rebuild some of these operations that have been hurt by the US blacklisting. Could they be a real competitor in terms of building up capabilities to the likes of TSMC. Will Well making is a very very complicated business. Of course the most advanced company as you mentioned is is Taiwan Semiconductor. Samsung Electronics is pretty close behind. And then there are some other enormous ones like in Kelso. This company is not going to have a chance to compete with those leaders for many years if ever. However they would be able to restore the supply of ships in some of these key areas if they're able to get advanced equipment. They would be able to help while we restore some of the operations that they have not been able to continue with. Given the blacklisting from the U.S..

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China Chipmaker PXW May Help Huawei Get Around US Sanctions

China's Huawei Technologies Co. may be able to sidestep US sanctions through a chip startup run by a former executive of the telecom-equipment giant. Peter Elstrom reports on Bloomberg Television. (Source: Bloomberg)