Multi-nation ban on the export of chipmaking tools looming large over China. Posted on February 2, 2023 News By Akta Yadav 190 Views Multi-nation ban:- According to a Washington official, Japan and Netherlands have joined hands with the US in pursuit to dethrone the Asian powerhouse, i.e., China. With its rising economic growth, China is becoming the "major" geopolitical threat in a century for the US, and the move is very much understandable. Multi-nation ban The confirmation of the ban came from the official named Don Graves, deputy commerce department secretary. He stated, “We can’t talk about the deal right now. But you can certainly talk to our friends in Japan and the Netherlands.” Earlier on Friday, Bloomberg reported an agreement had been finalized on the same, followed by confirmation from Reuters. This is, however, not the first time a ban will be imposed of this kind. In October 2022, the United States imposed export restrictions on the shipment of chipmaking tools to China. It was a move directed to limit China's growth and expansion in various sectors, including military mushrooming. But the States recognized that banning alone can't be much, so they decided to join hands with other nations, particularly Japan and Netherlands, home to vital chipmakers Tokyo Electron and ASML, respectively. Multi-nation ban The commerce department said in an email it would continue to coordinate export controls with foreign allies, calling this a “priority”. “We recognize that multilateral controls are more effective than unilateral controls." With Taiwan still being the largest exporter of chipmaking tools and chips to China, it would be interesting to note if these bans are enough to control the rise of the Asian dragons. For more updates keep visiting our website www.topstoriesworld.com where we provide unbiased, true, and top stories of the world.
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Multi-nation ban
The confirmation of the ban came from the official named Don Graves, deputy commerce department secretary. He stated, “We can’t talk about the deal right now. But you can certainly talk to our friends in Japan and the Netherlands.”
Earlier on Friday, Bloomberg reported an agreement had been finalized on the same, followed by confirmation from Reuters.
This is, however, not the first time a ban will be imposed of this kind. In October 2022, the United States imposed export restrictions on the shipment of chipmaking tools to China. It was a move directed to limit China's growth and expansion in various sectors, including military mushrooming.
But the States recognized that banning alone can't be much, so they decided to join hands with other nations, particularly Japan and Netherlands, home to vital chipmakers Tokyo Electron and ASML, respectively.
Multi-nation ban
The commerce department said in an email it would continue to coordinate export controls with foreign allies, calling this a “priority”. “We recognize that multilateral controls are more effective than unilateral controls."
With Taiwan still being the largest exporter of chipmaking tools and chips to China, it would be interesting to note if these bans are enough to control the rise of the Asian dragons.
For more updates keep visiting our website www.topstoriesworld.com where we provide unbiased, true, and top stories of the world.
