Italy Offers To Leave Belt and Road Initiative for Taiwan Chip Deal
Italy is expected to eventually decouple from China regardless, with the Italian auto-industry slashing production in the face of a global semiconductor shortage.
Italy is expected to eventually decouple from China regardless, with the Italian auto-industry slashing production in the face of a global semiconductor shortage.
According to von der Leyen, the deal “will power a clean tech industry made in Europe and strengthen our digital resilience and sovereignty.”
The Chips Act is designed to mitigate European reliance on Chinese semiconductors. It is an answer to the unanticipated realisation that the EU is at a technological disadvantage.
The EU wants to reduce its dependence on imported semiconductors and has announced a new major spending programme: the so-called “Chips Act.”
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