China Stands to Gain From America’s New CHIPS Legislation

China has been a competitor of the United States for quite some time. Although lately, there are growing issues involving China’s disposition toward the United States.

On multiple occasions, foreigners from the communist nation have been caught buying land and properties here in the United States. Given that China is not a US ally and is known to spy on US officials, such as Rep. Eric Swalwell (D-CA), Americans have concerns.

Then, more recently, a Chinese state official threatened to shoot down the plane of House Speaker Nancy Pelosi if she goes to Taiwan for a visit.

Many Americans subsequently questioned what right China has to dictate US policy or determine where US officials are allowed to travel.

Against the backdrop of all this, China now has a lot to gain from the recently passed CHIPS legislation.

Reviewing Problems With the CHIPS Bill
In passing CHIPS, the Senate opened the door to China getting some major kickbacks. For instance, this legislation paves the way for the Chinese semiconductor sector to obtain serious funding from US companies.

Ironically, CHIPS has been branded as an initiative to make American companies more competitive against China’s semiconductor industry.

However, this legislation missed the mark when it allowed funding to go to the Chinese on the condition of its technology being no more advanced than the 28-nanometer generation.

Due to China being largely behind the rest of the world when it comes to semiconductor manufacturing, meeting the 28-nanometer generation is not a challenge for the regime at all.

A Major Blow to the United States
With China spying on US officials, threatening US leaders, and otherwise moving to outpace America, most people don’t agree with Congress giving the Chinese regime kickbacks.

To make matters worse, Joe Biden’s been caught selling America’s emergency oil supply to the Chinese government amid sky-high gas prices. This comes amid looming concerns about Biden and his family being potentially compromised by previous business deals they’ve done with the Chinese.

Finally, the CHIPS legislation’s success in the Senate marks yet another example of major US federal spending, amid economic decline. If the shoe were on the other foot, it’s unlikely that China would be rushing to give America a helping hand.